I will mention that I sold about $17,000 of NVDA yesterday to cover an art purchase that happened about mid day on Monday. I sold during the final ten minutes of the market day. THIS IS OBVIOUSLY NOT A MARKET DECISION.....so not really relevant to anyone else....IT IS AN ART PURCHASE DECISION. So two of my three purchases are done and covered. The final BIG purchase....will be at auction...in the near future.....if I am successful in my bidding and my limit that I am willing to bid. I will ALSO take the majority of money for that purchase...if I am successful....from NVDIA.....as profit taking. I will basically be re-balancing those funds into hard assets....art. I am sure if I sold ALL art....I would have a profit....BUT...nowhere near what those funds would have produced in the markets. BUT....life is all about BALANCE.....and......you have to reward yourself once in a while.
New York City???!!!! LOL. I don't know why that came to mind when you mentioned NYC. That old salsa commercial from the 90's I believe.
I guess today ties the record at #35 days. I know a couple of folks that have been unpaid for about a month. One of which is still required to show up everyday. That would really stick in my craw if it were me. The other is doing some projects they have put off doing since they have been off. Both are financially pretty good at savings and managing their situation....but did admit they might feel a bit differently the longer it goes on. Anyway, that is about the extent of "hearing" about it in my circles.
The way things are going lately in NYC.....it will soon be....NYC???!!!.....who cares. LOL....I remember that commercial Smokie. I believe the owner of that Salsa company lived in San Antonio....but dont quote me on that.
The poor markets.....a self-defeating and self-loathing..... DUMPSTER FIRE today. The definition of a self-fulfilling prophesy. I will simply call it CONSOLIDATION. OR.....a REACTIONARY drop in response to the......AMAZING.... big tech earnings. I will simply sit and HIDE OUT in the long term. As to RIDING THE WAVE.....I am out in mid ocean but somehow hit a little underwater reef today. I have lost all my gains from yesterday. OMG.....I have lost.....ONE WHOLE DAY...... of gains. Only one left to report......"the one ring to rule them all"....NVDA. NVDA reports on November 19. God help us all....if they put up a BIG BEAT....the markets will probably totally TANK.
On the investing side of things. I bought a pretty good chunk of shares in the index back in the April downturn. Perfect timing....LOL. I really wasn't trying to, but the discount seemed to good to pass up and I had the money to dump into the market at that time. If I remember correctly, it was quite some time before we had another little sell off....seems like there was one other very mild one. Since then it has been quite the run. I picked up a little bit in the Treasury fund I have along the way, but nothing too significant. I still have a little bucket of cash to deploy sometime between now and the end of the year. My other contributions continue as normal. So, not much going on with my plans.
Letter to Shareholders https://www.palantir.com/q3-2025-letter/en/ Karp letter, an highly politized letter. Really apreciated it. Karp wrote a few bright points (my view): A rejection of any shared and defined sense of common culture, in this nation and others, has had significant costs. We should, indeed must, return to a shared national experience—an embrace of common identity that by definition puts forward certain ideas, values, culture, and ways of living at the exclusion of others. It is and was a mistake to casually proclaim the equality of all cultures and cultural values. Some have proven to be wondrous and generative. Others destructive and deeply regressive. And an even greater mistake is to believe that we could or should convert the world to our way of living. For sure he marks the diference from other CEO's. He is not an ordinary lider, he clearly has a view from were us, lets call it "westerners", are, what is our common ground and where we should point from here. And also on an extraordinay sidenote he says "you cannot change the ones that don´t want to be changed". Really apreciate his thinking.
Geez...the boo birds are out today in the market. Everybody piling on to all of the "popular" negativity. Funny, how quickly they change moods on certain things. I figured it was a clean sweep across the sectors, but health, financials, consumer staples, and real estate are in the green a bit. Tech taking the brunt of it today. PLTR mentioned above. Hang on to your surfboard today fellas. Of course, y'all are likely accustomed to these wild swings in either direction.
Another thing, several pundits mentioning a "pullback" of 10% or more over the next 12-24 months. Really?? The insight to make such a claim. I mean that is really bold and unexpected. They get paid for this....LOL. I really want them to drill down and prove their worth. We need details. Like the date, precise time, temperature, and all that.
Yes. I have an article from earlier today in the thread regarding Morgan Stanley and Goldman tanking the market today with their simultaneous calls for a correction. Sounds like semi-manipulation to me. Not that it is illegal.
I finally got a chance to look at my portfolio.....at 9:15PM. I had a BIG loss today....DUH. And got beat by the SP500 by 1.43%. I did manage to have three stocks GREEN today....COSt, HD, and AAPL. WHATEVER.
The USUAL and TYPICAL media BS regarding the markets today......the old circular crap argument about AI is out there again today.....as is the AI bubble BS. In addition earlier today I saw one big site saying the drop was caused by Morgan and Goldman....saying we are going to see a correction. What is INSANE is the correction BS by Goldman and Morgan is....in the next...."1-2 years". Well DUH....we are probably going to see at least one correction and often two in.....every single year. It is not like a correction is any sort of big deal...it is just short term NORMALITY. As to the circular argument about NVDA and AI....pure fictional BS. We have a long history of business providing financing for customers to buy their product. Here it is a step removed since the business (NVDA)....is investing in various companies and acquiring ownership.....a very valuable asset.....and the other company....is using those funds to buy NVDA chips and other AI type products. This arrangement is not remotely.....as close....as providing a loan for someone to buy your product....something that happens all the time in business. For example look at old time GE......and GE Financing....before the company was gutted. As to the BUBBLE argument....fantasy. These are real companies making real products and putting up spectacular fundamental numbers. If anything....the markets are SEVERELY UNDERESTIMATING....what is going to happen with AI. What we are seeing now is NOTHING like the Dot Com era....when fake and non-existent companies.....that were nothing more than a web site and smoke and mirrors....were driven up to the moon in value. This is the kind of RIDICULOUS crap that has the potential to KILL the markets.....some day down the road.
Or they just missed their entry and need to get in at a lower price. It's a game. Many of these firms do an excellent job with the theatrics but end of the day they are guessing like the rest of us. I heard an interesting podcast the other day with Cathie Wood. They pretty much called her out for her poor performance as of late. I figured she would do the typical politician move and avoid the question but she did a decent job of owning it. I would never invest with her but the interview gave me a new perspective of who she is and what she's about. I like the concept of disruptive tech but feel that it should be a small section of a portfolio and not the portfolio itself. Also I get the impression the place is more of a scrambling, chasing trader than a long term investor plant the seed and give it time to grow. The podcast is 'My First Million'. It's actually a pretty interesting podcast that hits on some very interesting topics and interviews.
Goldman Sacs, JP Morgan.....the financial media....the market manipulating short sellers and speculators...the AI traders...etc, etc. This article is for you.....speaking of...HUCKSTERS. BEWARE OF VISIONARIES & HUCKSTERS https://www.permanentequity.com/unqualified-opinions-roll/what-for-verified-adults
For anyone that may be considering some re-balancing. NO JUDGEMENT. this is a personal thing and there is NOTHING WRONG with doing so if you feel the need. Simply part of the process of being a long term investor.....for many people. How to Rebalance Your Portfolio in a Lofty Market If it’s been a while since you rebalanced your portfolio, it might be too heavy on growth-oriented US stocks. https://www.morningstar.com/portfolios/how-rebalance-your-portfolio-lofty-market
Well...the markets are open and acting like NOTHING happened yesterday.......In terms of the political news out of NYC and in terms of the markets. In reality it was ALL......NOTHING....but media fear mongering. No I dont think things are going to go well for NYC...but that is not my problem and I suspect that about 350MILLION people around the rest of the country simply....DO NOT CARE.
AND.....to continue the above. What happened yesterday was IDIOTIC. BUT....it is obvious why it happened. Yes.... the market structures are BROKEN. YES....we see daily rampant manipulation by the professionals, the short sellers, the big boys of Wall Street and especially......the moronic OPINION MEDIA. I am talking about the financial media.....not the rest of the circus that now passes for news. Do you think the big traders and the speculators do not know what stories are going to be put out there in the financial media daily? I suspect that much of the daily content is either coordinated or planted. We are now at the point where the GREATEST companies in the world are subject to being severely jerked around in the day to day markets. HOW and WHY should this be true? MSFT, AAPL, AMZN, NVDA, GOOGL, META,.....are all the largest and most successful companies in the entire WORLD. They mint money in good times and bad. They have vast hoards of free cash. They are ALL in the top ten of market cap in the WORLD. They should be considered the safest companies and investments that exist. They have ALL been around for 30-40 years and put up great earnings constantly. THEY ARE PROVEN over many decades of success. Yet..... day after day they are constantly fear-mongered, disrespected, harangued, subject to constant second guessing and media attack based on some...... junior-journalist-wanna-be.... spouting opinion BS. Their great earnings are totally disrespected and often ignored. It is IRRATIONAL and flies in the face of reality and reason. EVEN good old PLTR....which is the TWENTIETH largest company in the WORLD....is constantly attacked in spite of AMAZING earnings. Yes they have not been around for as long and they do have more of a risk profile based on valuation concerns....but they constantly BEAT, BEAT, BEAT. The markets and the financial media are...EATING THEIR OWN. They are planting the seeds of the destruction of fundamental based investing with the constant daily irrationality. the end result will be the end of the markets.....as they now....somewhat....exist. Of course markets will still exist....and it is obvious how they will operate. We see this system quickly taking shape right now. It will all be short term GAMBLING....trading on ANYTHING. The winners......of course...the big boys, the manipulators, The speculators that rig the system in their own favor. In other words.....THE HOUSE.
LOL...it is a good thing I am NOT a conspiracy nut. As I was typing the above my computer suddenly got hit with a big pop up warning and froze. BUT....NO I am not paranoid and do not worry about random coincidence. Even though we see "random coincidence" every day in real life....as we are driving or talking at home.... about some product or something and......BINGO....a short time alter that.... we are seeing advertisements for that exact product or thing popping up on our phone or computer. LOL. BUT...no I am still NOT...paranoid.....even though I keep the camera on my computer covered up 100% of the time when I am not using it. I remember a long time ago.....some article I was reading about people being paranoid about their computer and other devices cameras and microphones. At the same time I noticed a photo of.....ZUCK....on a computer with a piece of tape over the camera. I thought is was hilarious. NO....I really am not paranoid....I am too small of a fish to worry about this sort of stuff. I simply hide in the HUGE school of fish and am safe. I dont worry about government or anyone else collecting information.....they are all simply too incompetent to do anything with it.....if you dont make yourself a target.
