NO......I dont think I will be moving any money into china stock. BUT....if you are a fan......have at it. TODAY.....I could see from the open that the BIG tech stocks were severely lagging the general averages. Now an hour till close many of them are negative for the day.........NOT a surprise. AND......we have backed off much of the early gains.....at least in my accounts. The FEAR MONGERS are out in force today and recently......EVERYTHING is either going to kill us, eat us, destroy us, take away all our money........or......whatever. I have noticed this "STUFF" for the past 8 months.....one thing after another. KNOW WHAT.......I dont buy ANY of it. People LOVE to be scared and they love a good old fashioned DOOM&GLOOM fest. The good news is the people spreading this BALONEY are just about ALWAYS wrong. The BAD NEWS.....the majority of investors are impacted negatively by this "stuff". Of course.......I continue to be fully invested for the long term as usual.
I've looked into owning a Chinese index and haven't found any good options, just a couple of OK ones. That was a couple of years ago. We have better options now. I don't understand any Chinese companies well enough to own individual companies, so that's a non-starter for me. The 5 year SHCOMP and HSI are surprisingly flat, compared to the S&P500. These are not high growth indices. Even with low historic growth, I find myself interested in gaining some broad Asian exposure. Their work and business ethics are admirable.
Soooooooo many opportunities here in the US why someone have to go to China is beyond me. I mean investors made a killing just in the past 6 months investing in American companies. So now investors are selling to buy a beautiful new car or home and y’all moving to China?? Well damn!
I agree......I have absolutely ZERO interest in investing in China. There are WAY BETTER long term companies here in the good old USA. I dont care to GAMBLE with third world, dictator, communist front companies. Oh yeah......today......nicely green with the tech companies lagging. So...I got beat by the SP500 by .30%. All in all a good day.
Futures......up +450 points. Looks good to me. No guarantees.......but it is better than the opposite. I would NOT want to be sitting on the sidelines right now. Regardless of the election it looks like to me that we are in for a........"potential".....explosive rally. ESPECIALLY......if there is a clear cut VICTORY. I will GLADLY take the potential for short term turmoil for the........"PROBABILITY"......of a BIG rally to the end of the year. I can EASILY sit out any turmoil.....even for months if need be.......in order to get the benefit of the alternative scenario......a HUGE year end rally.
Talked about.....local.....real property a few posts ago. We are now back down to 4 active, unsold, listings in our large area. The lowest priced home for sale is $550,000. Eight years ago you could buy a home in this area for $280,000. So in the span of 8 years we have gone from an area where there were always......some.....homes available for $275,000 to $300,000 to an area where the lowest priced homes are in the $450,000 to $500,000 or above.
For ALL of you China fans........Looks like the ANT group IPO and indirectly Alibaba are......SCREWED. BUMMER. Looks like some problem with their......"MASTERS": China Stops Jack Ma’s $35 Billion Ant IPO From Going Ahead https://www.bloomberg.com/news/articles/2020-11-03/ant-group-says-hong-kong-ipo-also-suspended (BOLD is my opinion OR what I consider important content) "China put the brakes on Ant Group Co.’s $35 billion share sale in Shanghai and Hong Kong, derailing the world’s biggest initial public offering. The Shanghai stock exchange will suspend the listing after Ma was called in for “supervisory interviews” by related agencies, it said in a statement Tuesday. There was “significant change” in the regulatory environment and “such major issues could lead to your company not longer complying with requirements on listing or information disclosure,” the statement said. The Hong Kong leg will also be suspended, Ant said in a filing shortly after the Shanghai announcement. The fintech company’s debut was expected for Thursday. Alibaba Group Holding Ltd., which owns about a third of a stake in Ant, fell 8% in premarket U.S. trading. Futures on Hong Kong’s Hang Seng index lost as much as 1.2%. The shock move comes after China’s regulators warned that Jack Ma’s firm faces increased scrutiny and will be subject to the same restrictions on capital and leverage as banks. Ma, Ant’s billionaire co-founder, was summoned to a rare joint meeting on Monday with the country’s central bank and three other top financial regulators. A representative for Ant couldn’t immediately respond to a request for comment. “It’s a pretty bad look, where you have a China company conducting the world’s largest IPO, locking in billions from global investors and getting halted on the eve,” said Yu Tianjiao, a Hong Kong-based analyst from Sanford C. Bernstein. “Longer term, investors are going to reevaluate Ant’s price, people who gave it lofty valuations as a tech company will have to start thinking about it more as a financial services firm and question the growth potential.” Ant’s decision to list on the Star board, a market launched in Shanghai last year, was seen as a major win for the mainland exchange. The IPO had attracted at least $3 trillion of orders from individual investors for its dual listing in Hong Kong and Shanghai. In the preliminary price consultation of its Shanghai IPO, institutional investors subscribed for over 76 billion shares, more than 284 times the initial offering tranche. The fintech company’s IPO would have given it a market value of about $315 billion based on filings, bigger than JPMorgan Chase & Co. and four times larger than Goldman Sachs Group Inc. ”It’s definitely surprising,” said Mike Bailey, director of research at FBB Capital Partners. “If there is something strange going on on the macro side for China’s financial markets or in the company that would be worrisome. That would be like for instance if we had some problem with Amazon. I would view that as a meaningful problem for them. This could be something that feeds back into global markets.” Ant has faced scrutiny in Chinese state media in recent days after Ma criticized local and global regulators for stifling innovation and not paying sufficient heed to development and opportunities for the young. At a Shanghai conference late last month, he compared the Basel Accords, which set out capital requirements for banks, to a club for the elderly." MY COMMENT Being SUMMONED for some........"SUPERVISORY INTERVIEWS"......by the MASTER pretty much says it all. Get too big for your britches in China and the STATE will slap you down in an instant. Welcome to the world of investing......or trying to invest......in companies in a COMMUNIST DICTATORSHIP.....that is the worlds WORST propagator of terror and death to their own citizens.
HERE is the same story from The Financial Times........they are MUCH more aware and connected in that part of the world. China halts $37bn Ant Group IPO, citing ‘major issues’ https://www.ft.com/content/c1ee03d4-f22e-4514-af46-2f8423a6842e I LOVE this language........."officials summoned Jack Ma and other Ant executives for an interview". AND this......."Mr Ma, Ant’s founder, had been called in for “supervisory interviews” and said there had been “other major issues”, including changes in “the financial technology regulatory environment.” ALSO love this one......."may not meet listing qualifications or disclosure requirements due to material matters relating to the regulatory interview of our ultimate controller, our executive chairman and our chief executive officer by the relevant regulators and the recent changes in the fintech regulatory environment. ALSO love this one......"On Monday, Mr Ma, together with Eric Jing and Simon Hu, Ant’s chief executive and chairman, were called in by the People’s Bank of China, as well as China’s banking, securities and foreign exchange regulators. Subsequently, Ant said it would “implement the meeting opinions in depth”. The meeting came after Mr Ma criticized China’s state-owned banks at a financial summit in Shanghai at the end of October." MY COMMENT YEAH......the state bank......the "peoples bank".....you can not step on their toes. If so you will be SUMMONED. AND....if you dont watch out you will be......."summoned"........and never seen again....except for perhaps a few of your organs. BUT.....as an investor.......why not invest in CHINA.....after all what could possibly go wrong?
YES......a nice EPIC rally.....so far.....today. It will be interesting to see if it fades over the day as people get skittish and pull profits out. I dont think it will......but who knows. I am GUESSING that we could be in for a REALLY BIG week for investors. That statement could be taken a few different ways......I am HOPING and expecting to the UP side. For stock owners.....I dont see any negative from the election either way......for the country.....totally DIFFERENT story.
OK.......nice day today. About half my stocks were UP really nicely......the other half decent. AND......beat the old SP500 today by .40%. Pretty good movement UP for ELECTION DAY.
Well nasdaq just flipped all it’s losses positively in the past hour. Let’s see how this develops by the open tomorrow (insert popcorn meme here)
WELL.......not worth anything........but.....ALL the futures are UP nicely: DOW +225 SP500 +54 NASDAQ +373 I have NOT been watching much of the election. I try to NOT get fanatical about this stuff........at least in regards to investing. In fact, that is one reason why my portfolio is set up as it is. Most of my stocks...........would thrive under a DEM administration. Companies like NIKE, GOOGL, MSFT, APPLE, AMZN, SOFT, TESLA would ALL do very well. My other companies would also be just fine. That does not mean that the general economy and average American would be better off. And ALL bets would be off if we started to get into one party rule and things like court packing. But I do not see that happening right now. On the other hand......ALL my companies will do just as well.........if not better........under a REP win. There was some discussion a while back about morality in investing. I do not worry about morality. I ALSO.......never......set up a portfolio based on my political beliefs or even what party I think would be best for the country. My ONLY goal is to make money and compound my money. In order to do that........I NEVER invest based on politics. In order to make money and compound my money on schedule.....double every 5-7 years.......over the long term.....I NEED good returns under ALL political situations. In any event.....I STILL believe that we are headed to a BIG positive week for stocks and funds. AND.......I also believe that there is a "probability"........yes........"probability".......of a run at all time record highs before the end of the year.
While siting here and wasting time tonight.......I do have one election QUIRK. I can not stand to watch the debates or the election results on television. The reporting at all levels and on ALL outlets is just impossible to watch........as are the debates. I have noticed that my tolerance to watch that "STUFF" has gone down drastically the older I get.
With recreational legalization overnight for SD, AZ, and NJ does anyone see a nice upward trend for the weed stocks?
As to WEED......I dont see anything in this industry that would make me invest. It is a hodge-podge around the country. They STILL have no access to banking services. AND.....once it does go nationwide.....it will be a commodity that will suffer from massive over-supply issues. At that point it will just be a commodity like oil or pork bellies. BUT.....good open today and I am kicking ass........so far. Not very productive to get all excited about kicking ass 14 minutes into the day, however. Time to make some money and move on. NEXT big market driver the vaccines that will be coming online in the next month or two. What or how the politicians do and how they screw......."you".....not my problem....it is all about me, me, me. Anyone else......you get what you deserve and you get what you vote for........good or bad. At this point in my life.....my PRIMARY GOAL.....is to take care of immediate family for the near future. Near future being a couple of generations......children and grandchildren. NOTHING else I can do beyond that. ACTUALLY this is the way it has been in my family for many generations......the older generations helping the young generation to move onward and upward. The above is EXACTLY what everyone should be doing. Watching out for and trying to assist the next generations of their OWN family. My mantra.......in my brain.......not out loud.........."not my problem".
YES........it does appear likely......so far..... that I got the primary thing I wanted from the election.......at least in terms of policy. If the REPS hold onto the Senate......the tax law will remain unchanged. Politicians on all sides can play their games.....but tax policy is a BIG factor in successful business......especially.......when it comes to competing and dominating around the world. We tend......historically.....to do some really DUMB things with tax policy.....especially capital gains taxes. It has been my simple opinion over many decades that it is CAPITAL GAINS money that is the HUGE driver of the business environment and economic success. UNLESS things change.......this......along with the currently unappreciated......pent up........impact of GREAT third quarter earnings and really good recent economic data.....is what will drive us to ALL TIME highs in the general averages by year end. In other words......I am "seeing" a really nice Santa Claus rally and a BIG January for stocks and funds. Of course to take advantage of these events........"if or when they happen".........I remain fully invested as usual for the long term. As to today........Mr STOCK MARKET.......show me the money!
Speaking of CAPITAL GAINS tax. My personal view is that it should be.......ZERO.......across the board for ALL income levels. Obviously......this is probably not the majority view. This tax is totally non-productive to business and the economy. This would also free up business and investors to do what they do WITHOUT being saddled with having to make all sorts of decisions based on the capital gains tax code. Of course,,,all the other parts of the tax code that drive business and investing decisions would STILL be there.
Clearly, all tax should be zero from my wealth level and up. I mock for my own amusement but I'm not against the idea of eliminating CG tax.
