Sell the buzz
The attendance of last week’s NYC Trader’s Expo set records. The buzz about the Snap IPO out in LA, where Snap is based, was everywhere. Another week spent on the road for meetings, speaking engagements and networking and everyone was once again — excited about the economy, their businesses, growth…and the stock markets reflect that right now, yes?
Near-term, too, the markets need a breath, as they’ve been needing a breath for a long time now.
This months-long rally that kicked off around the same time as Trump got elected; or maybe it got started around the time the markets bottomed in the Brexit vote panic; or maybe it got started around the the Great Real Estate and Bank Crisis of 2008 peaked; or maybe it started back around when the dot com crash finished up in 2003; or maybe the rally got started back in 1996 when Internet’s impact was yet to be felt; or maybe it was back in 1980. Or maybe this rally got started back in 1945 when WWII ended.
Point is, take some profits. Most of you reading this and/or who have been subscribing to me for the last seven or ten or fifteen years have stocks and mutual funds and other assets that have gone up in value over the last few years while others were stuck in fear or listening to permabears or had a million other reasons to have missed out on the gains that you’ve had. You’ve probably got some mutual funds that are up 5-15% in the last few months and up bigger than that over the last few years and are continuing to bust through to new all-time highs. You’ve got Apple and Google and Amazon and Facebook and maybe some Axogen and some Nvdidia and some of you have owned Tesla or Salesforce.com or some other stocks that have been huge winners for you over the last few years or over your whole investing career.
What’s the point of all that worry, trading, investing, studying, researching, checking on your portfolio, and all the rest of it? I’ve suggested to my parents, my in-laws and my subscribers that we take some profits. Consider selling 5% or 10% of your stock portfolio/stock mutual funds and….spending it. Pull it out of your stock/mutual fund/market account and pretend that the market took a 5% pullback while you spend that money on something you’ve want — or give it away to someone who needs it.
As excited and buzzing as everybody in NYC and LA was last week, nobody was more excited than my two kids were when I finally got back home to NM!
Lots more to come this week. Lots of writing and updates and analysis and ideas and thoughts I’m excited(?) to get to you all. Rock on.
