NO. Practice saying it.

NO. Practice saying it.

Summer doldrums drivel:

+ It’s a “stockpickers” market now. That means the market is about to fall big time.

+ Yields are rising. When muni bond yields hit 5%, investors will flee equities and load up on bonds, especially investors in high-tax states like New York and California.

+ No deal for Greece spells stocks will fall. (At least today.)

+ Everyone is at the beach. Hence it’s time for a “summer sell-off.”

+ Stocks are over-priced as price/earnings ratios reach for the sky. Time for an adjustment, downwards.

The reality. There’s little rational about the stockmarket in general and stock prices in particular. Except that stock prices tend to rise if earnings rise.

But — short-term, no one can predict where it’s going.

Further, no one “owns” the stock market. Even the S&P 500 index funds are adjusted to include “good” stocks and chuck bad stocks.

The market works on sentiment. What’s hot goes up. What’s cold goes down.

Biotech, cyber-security, healthcare and housing are hot. The Internet of Things is about to become hot, but I’m not sure which stocks. I do like Honeywell.

It’s good to scan the media — especially Cramer — for a reading on what’s hot and cold. He’s been really right on the biotechs. In fact when he pounds the table again and again for one stock and has the CEO on his show multiple times, he’s usually right, viz Starbucks, Regeneron, Gilead, and United Health.

My list of “Stocks We Like and Own” list on the right is made up of a continuum of hot stocks (some hotter than others) and a “normal” growth stocks like Honeywell, Berkshire Hathaway, Disney, Henry Schein, Johnson & Johnson, Nike, Under Armour, UNH, and WhiteWave Foods.

Also, I think it perfectly reasonable to have a small percentage of your portfolio in low-cost, ultra-speculative stocks — e.g. HOTR, JOB, and RTNB.

Check my list. I’ve just updated it. Don’t forget: I don’t recommend owning identical amounts in each stock. You should own a lot more in some than others .I do.

Practice saying NO.

The world is, once again, awash in charming, securities salesmen. They peddle everything from private equity funds to hedge funds. From crappy real estate syndications to … whatever.

99.9% of what they’re selling is drek.

Unadulterated drek.

I’m a sucker for a good salesman. Most of us are. A good way to avoid them is NOT to be a client of a big securities firm, like a Goldman Sachs, Morgan Stanley, etc.

Another way is to print this and hang it on your wall.

I raise this issue of saying NO, because my old Goldman Sachs salesman recently turned up. A while back, he sold me two (subsequently) horribly performing Goldman funds. No apologies for his bad recommendations. No nothing. Just a note telling me it was all my fault: I should have bought more bonds!

The irony of this whole situation is that, after selling me garbage, he borrowed oodles of money, bet that the market would fall and subsequently went broke — bankrupt.

Chutzpah is now defined as the bankrupt securities (now real estate) salesman proffering investment advice.

Doctors

+ His doctor gave him six months to live.

When his patient couldn’t pay his bill, the doctor gave him another six months.

* “Mrs. Cohen, your check came back. “

“So did my arthritis!”

* You’ll live to be 60!”

Patient: “I am 60!”

Doctor: “See! What did I tell you?”

* Patient: “I have a ringing in my ears.”

Doctor: “Don’t answer!”


Harry Newton who just noticed that Buckingham Palace needs $237 million of renovations. Maybe it’s time to turn all of it into real, paying museum and kick the Queen out?

Buckingham Palace is the most iconic royal building in the country. It is the London residence of Her Majesty The Queen and is one of only a few working royal palaces left in the world. Buckingham Palace has 775 rooms. These include 19 State rooms, 52 Royal and guest bedrooms, 188 staff bedrooms, 92 offices and 78 bathrooms. 3. In short, it’s massive:

I hear England is leaving the EU also. This would make a great hotel/museum.

Read the article: 

NO. Practice saying it.

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