In spite of the good market today....I only have two stocks UP at the moment....AAPL and AMZN. Sometimes what you own just does not participate. I have HOPE for the rest of the day. Although I would not be surprised if we turn red and end in the red with the big averages today. It seems like a drifting and dull market today......with no real energy happening. I think the markets basically wore themselves out this week......with all the short term FRENZY and DRAMA.... and are now going to sleep-walk through the day.
This is a little self-serving....by Christies....but I do agree with the concept of "proven" collectables and art being a safe haven or part of an investment plan.. Art market offers investors ‘escape’ from volatile stocks, Christie’s CEO says https://www.cnbc.com/2025/05/09/christies-ceo-art-market-escape-volatile-stocks.html (BOLD is my opinion OR what I consider important content) "Key Points Christie’s, Sotheby’s and Phillips are together offering 295 works at auction next week for a low-end estimate of $952 million combined, according to ArtTactic. Any gain would be a welcome change for a global art market that has been in decline for two years. In an exclusive interview with Inside Wealth, Christie’s CEO Bonnie Brennan said collectors view art as a safe haven in an uncertain world, and sales are poised for a rebound." MY COMMENT I cant see the rest of the article since I dont.....and will not......"pay". I DO NOT agree at all with the statement that the global art market has been in decline for two years. Top of the line art and collectables have been on fire for years. Cards, comics, art, etc, etc, etc.....we have seem many world record auction prices over the past couple of years. As for what I collect.....Western Art....Impressionistic Art......prices have been very strong for a long time now.
I see that generally the mortgage rate for a 30 year home loan is at about 6.76%. Mortgage rates hold steady, Freddie Mac says Average rate on the benchmark 30-year fixed mortgage unchanged at 6.76%, says Freddie Mac https://www.foxbusiness.com/economy/mortgage-rates-may-8-2025 Potential buyers need to simply get used to it. This is a perfectly NORMAL 30 year mortgage rate. If you are going to wait for rates to drop way down into the 3% or 4% range you are wasting your time trying to....or thinking about....buying a house. It is not going to happen. Those rates were an EXTREME ABERRATION. From my entire lifetime of watching and participating in mortgage rates the NORMAL range is about.....5.5% to 7%. DEAL WITH IT......live in the world of reality.....if you want to own a home.
We have now reached a new......LOW....or.....HIGH....in how the day to day markets are TOTALLY driven by all the minute to minute.....rumor, speculation, opinion, fake news, etc, etc, etc. I have NEVER before seen this level of minute to minute OBSESSION in the markets over the past 55+ years of investing. I guess it is about what you would expect with the current level of attention span and considering the social media environment that is the modern world. We.....humans....are obsessively connected and aware of everything going on in minute detail.....but.....are just as DUMB..... if not more so..... than ever before. As a result the day to day markets are TOTALLY and IRREVERSIBLY......a wasteland of ignorance. This is reflected in the action of the big averages today. Thank God for long term investing.....for those of us that have the awareness and guts. I am sure we will easily eclipse the current levels of IDIOCY....as we come to rely on AI to tell us everything and lose all ability to actually read and research anything for ourselves......especially in depth. On a side note.....but related....I have been in a few homes lately that have large numbers of books on big book shelves. It is shocking to see.....since it is rare to see REAL books in homes anymore....other than as home decor.
MSFT, AAPl, AMZN, and COST held my loss down to the small side today. AND.....I got beat by the SP500 today by 0.28%. MOVING ON from here.....as if I have a choice.
Here is the....week that was. DOW year to date (-3.04%) DOW five days (-0.16%) SP500 Year to date (-3.77%) SP500 five days (-0.47%) NASDAQ 100 year to date (-5.36%) NASDAQ 100 five days (-0.20%) NASDAQ year to date (-7.16%) NASDAQ five days (-0.27%) RUSSELL year to date (-9.19%) RUSSELL five days +0.12% As for my entire portfolio I ended the week at year to date.....(-5.64%). Last Friday I was at a year to date for my entire portfolio of.....(-5.17%). Little to no change this week for me. I consider that a good thing as we continue to move on from the CORRECTION lose of April 7/8.
HAVE A GREAT WEEKEND EVERYONE.....CALL YOUR MOTHER......and.....TAKE CARE OF ALL THE MOTHERS IN YOUR LIFE FOR MOTHERS DAY.
