The Long Term Investor

OK......the week is off to a very good start today. One of the BEST events this week.....the Congress will be on vacation most of August. As an added bonus much of wall street and the ELITES will also be on vacation til......traditionally.....after labor day. GLORIOUS. This is one reason that the month of AUGUST is often very slow and very low volume. Sounds PERFECT to me.

We are seeing nice solid gains across all the averages today for the open. LETS GO.

 

I have never known anyone that uses FISHER to manage their money.......I hear their TV advertising all the time. They put out some really good articles that I usually like.

The Hints About Stock Leadership From Q2 US GDP
GDP is backward looking, but we think this week’s report hints at the trends that lie ahead.

https://www.fisherinvestments.com/en-us/marketminder/the-hints-about-stock-leadership-from-q2-us-gdp

(BOLD is my opinion OR what I consider important content)

"Thursday, the Bureau of Economic Analysis (BEA) reported US Q2 GDP growth accelerated to 6.5% annualized, putting output 0.8% above Q4 2019’s pre-pandemic high. Yes, the US economy, by this measure, is officially out of the recovery phase and into expansion. Most coverage honed in on the disappointing headline figure (expectations ran north of 8% annualized) and whopping 11.8% growth in consumer spending (the second-fastest rate in nearly seven decades, trailing only Q3 2020’s 41.4% pop). While all this is backward looking—and the details therefore not of major importance to forward-looking stocks—we think the report does hint at the trends that likely lie ahead.

The sources of headline disappointment aren’t too concerning, in our view. Private inventory depletion knocked -1.1 percentage points off annualized GDP growth, residential real estate investment subtracted half a points, trade detracted -0.4 points and declining government expenditures took it down another -0.3 points.[ii] Let us take each in turn. First, businesses’ drawing down stockpiles shouldn’t be surprising. Well-known supply chain bottlenecks make stocking warehouses challenging, but firms globally are working to fix—or adapt to—them. This is a case where inventories are falling because demand is up, not because companies are cutting back. Lack of housing inventory may be holding back new home sales, but again, that seems mostly temporary. It may take a while for builders to ramp up due to the aforementioned supply chain issues, but the demand is there—as evidenced by soaring prices. We suspect the supply to meet it will follow.

Meanwhile, although net trade subtracted from GDP growth, that is because imports rose more than exports. Rising imports signify higher demand, which is why we think it is more helpful to look at total trade. It rose, signaling broad economic strength. As for dwindling government spending, stocks care mostly about the private economy—whether federal outlays rise or fall doesn’t really impact them much.

We think consumer spending, which comprised 70.6% of GDP in Q2, offers the most insight for investors in Thursday’s report.[iii] Within personal consumption expenditures (PCE, the BEA’s technical name for consumer spending), services—the lion’s share—grew 12.0% annualized, outpacing goods’ 11.6%. (Exhibit 1) Note the direction: Services PCE growth in Q2 more than tripled Q1’s 3.9% annualized rate, whereas goods’ growth rate more than halved from Q1’s 27.4%. Durable goods saw the steepest deceleration, from Q1’s 50.0% annualized growth to Q2’s 9.9%.

Exhibit 1: Most Consumer Spending Categories Now Exceed Pre-Pandemic Levels




Source: FactSet, as of 7/29/2021.

We think there are some interesting nuggets to glean about reopening’s economic impact. As you can see in Exhibit 1, goods tied to areas that reopened earlier this year, including cars, RVs and home furnishings, saw big booms and quick decelerations. Now services, which reopened later, are booming. But goods’ trajectory suggests these categories (e.g., travel, recreation and dining) will decelerate before too long. You can also see this reopening effect in line items like clothing and gasoline. With the return to offices—and commutes—happening alongside services’ reopening, apparel spending kept up a blistering pace, 34.4% annualized growth in Q2, just slightly off Q1’s 35.9%. Gas station sales growth raced to 34.3% last quarter from 5.7% prior—partly from higher prices and partly from higher demand. If ever you needed evidence that high gas prices don’t knock consumer spending, we reckon this report is it.

Stocks, though, are already looking past the reopening boom. With only a handful of subcategories’ output still below pre-pandemic levels—concentrated mainly in transportation and recreation services—the initial reopening rebound is probably mostly behind us. With slower GDP growth likely ahead, economically sensitive value stocks’ returns are wilting relative to growth stocks. On a sector basis, value-heavy Financials and Energy, which led early in the year, are now lagging as markets have seemingly already priced the factors that propelled their growth in Q2. For example, while gasoline demand surged in Q2—and Energy companies’ profits with it—Energy has been flat since March’s end and underperforming the S&P 500.[iv]

In contrast, with economic growth likely set to subside, big, global companies with revenue streams not tied to the economic cycle appear to be faring better, which we expect to continue. Tech and cloud-based platforms in Communication Services and Consumer Discretionary have led stocks higher since mid-May. In a late-stage bull market, which we think stocks are in, high-quality growth stocks should outperform, just as they have since last year’s bear market, intermittent countertrends notwithstanding. Slower growth may not be the most exciting outlook, but it is one that suits the bull market—and ongoing growth leadership—just fine."

MY COMMENT

I happen to AGREE completely. For investors the pre-pandemic BIG CAP GROWTH companies are going to be the economy leading performers....just as they have been before the pandemic. In fact.....a normal market....is going to look very much like it did before the pandemic.

There is MUCH room to grow with the USA......and especially the world.....just starting to re-open. The end of the FREE money in September will GREATLY help to NORMALIZE the economy over the next 6-12 months. Growth and company fundamentals will....SETTLE....into a more normal pattern going forward as we get beyond the comparisons to the pandemic time period. YES....that might look like slower growth.....BUT.....it will be REALITY and companies that were successful before WILL do very well over the longer term.

 

WOW.......I really mean WOW.....the TEN YEAR TREASURY yield is now below 1.20%.......somewhere in the range of 1.18%.

The chart that I am looking at shows that the current rate is (nearly) the LOWEST TEN YEAR YIELD in the past......100 years. The ONLY year with a lower yield was last year.....2020.....with a low of......0.52%. The low this year was 0.93%.

https://tradingeconomics.com/united-states/government-bond-yield

That is SIMPLY....amazing. The current time period is a TOTAL ABERRATION. Yet.....people act like it is some sort of NORMAL event......like it will be the end of the world when rates rise. Personally....I will be GLAD when rates do rise and get back to a more normal range. I dont like to see the SPECTER of deflation and an EXTREMELY slow economy hanging over the world.

 

I just looked.....at my account for the day. Looking good. I have a nice gain as does....probably...most people today. My red stocks so far are COSTCO, HOME DEPOT and PROCTOR & GAMBLE. ALL are very slightly negative.....nearly flat.

I seem to be MIRRORING the SP500 so far today........and am about 1% below my record all time account high. SEEMS good to me.

 

THIS is one of the better articles I have seen on the CHINESE investing DEBACLE. Or I should say....the investor SLAP DOWN and REALITY CHECK by the Chinese dictatorship. Stocks, companies, business in that country are NOT independent of the Communist government and NEVER will be. They will be used as an ARM of the Chinese government......which they are.....to benefit the government and their world policies as they see fit.

Xi Jinping’s Capitalist Smackdown Sparks a $1 Trillion Reckoning

https://finance.yahoo.com/news/xi-jinping-capitalist-smackdown-sparks-210012980.html

MY COMMENT

Investors that have NO understanding of how the Chinese operate and the REALITY of their government and society WILL pay the price.....time and time again. Do I think they will ever learn their lesson.......NO.....EMPHATICALLY NO.

THIS is the bottom line in Chins:

"true to their Communist roots, China’s leaders have no problem trampling on the interests of venture capital, private equity or stock investors when they conflict with its long-term development plan"

 

This is an interesting business model....kind of like the old LAY-AWAY system.......or the rent to own furniture business. PROBABLY not going to end well for many of the customers......but....I am sure there is a BIG market for this stuff and much demand. the danger for these companies will be GOVERNMENT CONSUMER protection regulation once they ramp up their business model.

'Buy now, pay later' is becoming a huge business

https://www.cnn.com/2021/08/02/investing/premarket-stocks-trading/index.html

(BOLD is my opinion OR what I consider important content)

"London (CNN Business)Want to buy a new coat without shelling out the entire cost upfront? For shoppers, that's becoming an increasingly popular payment option — generating a windfall for the handful of companies that facilitate such services.

What's happening: Square, which owns the Cash App, announced Sunday that it's buying Afterpay for $29 billion, the largest acquisition of an Australian company ever.

Meanwhile, Sweden's Klarna raised money in June at a nearly $46 billion valuation. Affirm, a San Francisco company that went public earlier this year, is now valued at nearly $15 billion (and its stock is up 8% in premarket trading).

How it works: These companies partner with retailers like Target (TGT), H&M, Sephora, Macy's (M) and ASOS (ASOMY) online or in stores to offer customers the option at checkout to pay in installments. That lets shoppers snap up a $200 handbag for the cost of just $50 initially without having to undergo a credit check. The remainder is paid off in chunks over the coming months, often without interest.

A firm like Afterpay covers the entire cost right away for the retailer, less fees.

So-called "point of sale" lending has existed for decades. But the service has boomed alongside the spike in online shopping during the pandemic, which also ushered in significant financial instability for many households.

According to Adobe, "buy now, pay later" experienced 215% year-over-year growth in the first two months of 2021. Its researchers noted that more retailers are signing up — which makes sense given that consumers using the service place orders that are 18% larger than shoppers who don't.

"Trends fueling growth include digitization, rising merchant adoption, increasing repeat usage among younger consumers and an expanding set of players," McKinsey said in a report published last month.

Taking notice: PayPal (PYPL) rolled out its own service last year. On the company's earnings call last week, executives said its "buy now, pay later" product logged $1.5 billion in payments in its most recent quarter, and that more than 7 million customers have now made over 20 million transactions.

The veterans who have historically controlled the payments industry are paying attention, too. McKinsey estimates that the popularity of "buy now, pay later" options is diverting up to $10 billion in annual revenues away from banks.

Some warnings: Consumer Reports cautions that customers should be careful to know what they're signing up for. While many "buy now, pay later" companies offer zero-interest loans — tempting for those looking to avoid racking up credit card debt — a number have interest-bearing products as well. Actual terms can also vary by retailer, while paying installments late may incur fees.

Regulators are starting to watch this space. Earlier this year, the UK Financial Conduct Authority said "buy now, pay later" credit agreements would now be part of its portfolio.

"Although the average transaction tends to be relatively low, shoppers can take out multiple agreements with different providers," the agency said. "It would be relatively easy to accrue around £1,000 ($1,391) of debt that credit reference agencies and mainstream lenders cannot see."

There's more: "With several buy-now-pay-later providers planning to expand to higher-value retailers, or offer their products in-store, the risk that consumers could take on unaffordable levels of debt is increasing.""

MY COMMENT

This will be interesting to watch. This sort of business model has often ended up preying on the lower income segments of the economy. It sounds good...till.....you are late or miss a payment than the interest starts to stack up. A very easy way to get OVEREXTENDED. I will be curious to see if this type of business is able to PENETRATE the LUXURY GOODS market.

 

Well.....at least we got the week started. I was in the green today.....by a very minimal amount. At least....I was able to beat the SP500 by 0.28%. That is my BIG VICTORY today.....along with the fact that I made a little bit of money....better than losing.

My ONLY winners today that put me slightly in the green were....AMAZON, NIKE, NVIDIA, and GOOGLE. I have not looked at how the markets went through the day today......but I am guessing a weak end to the day.....and not much conviction throughout the day....since my negative holdings were not in the red by very much.

 

There is some nice data in this little article.

Stock market news live updates: Dow erases earlier gains to close lower, pulling back from an intraday record high as earnings roll in

https://finance.yahoo.com/news/stock-market-news-live-updates-august-2-2021-114434636.html

(BOLD is my opinion OR what I consider important content)

"Stocks turned lower Monday afternoon to close out the session in the red, giving back some gains after a winning July.

The Dow dipped into the red, erasing earlier gains of as many as 257 points, which had sent the index to a record intraday level. The S&P 500 also reversed course to end the session lower after gaining earlier in the day.

Despite Monday's pullback, investors are entering August with momentum from a sixth straight monthly gain, with the S&P 500 logging an advance of 2.3% in July. Both the Dow and Nasdaq also added more than 1% for the month.

These increases came alongside a strong season so far for quarterly corporate earnings results, with companies across industries revealing much better-than-expected second-quarter revenues and profits as the economy began to reopen in earnest this spring. Companies including Etsy (ETSY), Uber (UBER) and Lyft (LYFT) are set to report earnings results this week.

So far, 59% of S&P 500 companies have reported second-quarter earnings results, and 88% of these companies have beaten Wall Street's earnings per share estimates, according to FactSet data. The expected earnings growth rate for S&P 500 companies is tracking toward 85.1%, which would be the biggest jump since the fourth quarter of 2009.

Still, a number of companies have disappointed on current-quarter guidance, with the more tepid outlooks overshadowing strong second-quarter results. Many of these companies have been in industries that benefited most from stay-at-home behaviors last year, and included heavily weighted technology names like Amazon (AMZN), Facebook (FB) and Apple (AAPL).

But overall, the broad strength among corporate earnings results has helped investors shake off other concerns still lingering in the recovering economy, including over the Delta variant spreading rapidly across the U.S. Some strategists suggested this latest virus fear, however, might begin to wane.

"We feel that these Delta variant fears are going to subside," Aadil Zaman, Wall Street Alliances managing partner, told Yahoo Finance. "If you look at the UK, they're on the downslope. And we think the U.S. in a month or so is also going to be on the downslope. And I think that from an investment point of view, that has very interesting implications because we feel that as Delta variant fears subside, the reopening stocks, some of them that have been suffering because of that Delta variant fear, they're going to come back."

Signals that the Federal Reserve officials were inclined to leave their highly accommodative monetary policies in place at least somewhat longer have also helped underpin stocks. At last week's Fed meeting, the central bank suggested it was making further progress on its discussion around tapering its massive crisis-era asset purchase program, but that the economy still had further to recover before the Fed was ready to announce the plan. Both the pace and structure of this tapering also remain in discussion among Federal Open Market Committee, Fed Chair Jerome Powell said during last week's press conference.

"Our economists expect that the FOMC will first hint at the start of tapering at its September meeting," Goldman Sachs equity strategist David Kostin wrote in a note "They expect that the Fed will formally announce a decrease in the size of its $120 billion monthly purchases in December."

"Amid uncertainty around tapering, Fed rate hikes, and economic growth, high-quality strategies like our Strong Balance Sheet basket have recently outperformed," Kostin added.

10:41 a.m. ET: Construction spending rises less than expected in June
Construction spending recovered at a slower than expected pace in June, according to monthly data from the Census Bureau on Monday.

Spending increased 0.1% in June following a 0.2% decrease in May. This came in below estimates for a 0.4% rise, according to Bloomberg consensus data.

Private residential construction helped lead the rebound in June construction spending, with this rising 1.1% compared to May. However, non-residential private construction fell by 0.7%.

In the public sector, construction spending fell 1.2% month-on-month. A 5.3% drop in monthly highway construction contributed heavily to the decline, alongside drops of more than 1% in both office and healthcare construction.

10:08 a.m. ET: ISM Manufacturing index slips to 59.5 in July from 60.6 in June as shortages, labor issues cap growth
The Institute for Supply Management's July manufacturing index unexpectedly slipped in July compared to June, reflecting a slower pace of expansion in the U.S. goods-producing sector.

The ISM manufacturing index came in at 59.5 in July from 60.6 in June. Consensus economists were looking for a reading of 61.0, according to Bloomberg data. Readings above the neutral level of 50.0 indicate expansion in a sector.

Despite strong demand for goods, survey respondents cited issues keeping up on the supply side for the overall deceleration in activity.

“Business Survey Committee panelists reported that their companies and suppliers continue to struggle to meet increasing demand levels," Timothy Fiore, chair of the ISM Manufacturing Business Survey Committee, said in a press statement. "As we enter the third quarter, all segments of the manufacturing economy are impacted by near record-long raw-material lead times, continued shortages of critical basic materials, rising commodities prices and difficulties in transporting products."

"Worker absenteeism, short-term shutdowns due to parts shortages and difficulties in filling open positions continue to be issues limiting manufacturing-growth potential," he added.

The drop in the ISM manufacturing survey stood in contrast to IHS Markit's print for July, which showed the highest reading in at least 14 years. This discrepancy may be reconciled when considering both surveys use different methodology. ISM's survey, for instance, focuses on large multinational companies and takes into consideration facilities outside of the U.S., while IHS Markit accounts for a mix of company sizes and confines reporting to U.S. factories and facilities.

9:57 a.m. ET: IHS Markit's manufacturing purchasing managers' index reached the highest level on record for July
A closely watched index tracking U.S. manufacturing sector activity reached the highest level on record in July, according to IHS Markit's monthly survey.

The institution's manufacturing purchasing managers' index (PMI) rose to 63.4 in July, up from 61.2 in June. This exceeded the "flash" July PMI released last month, and reached the highest level on record, based on data extending back 14 years.

"Contributing to the uptick in the headline figure was a sharper expansion in production at the start of the third quarter," according to IHS Markit's release on Monday. "The upturn was reportedly linked to stronger client demand and efforts to clear backlogs of work. The rate of growth was the steepest for six months and marked overall."

Still, however, output is lagging behind order book growth, IHS Markit added, with delivery delays and supply chain issues continuing to cap growth overall.

MY COMMENT

Many of the economic data points are coming in below estimates.....as we struggle to re-open....and keep the economy positive. Items such as construction and manufacturing are WEAKER than anticipated. AGAIN....I consider this a good sign for stocks and funds....that we are NOT going to see a WILD RUNAWAY economy. The question is can we keep it positive and out of recession over the next 6 months.

STOCKS are being BEATEN DOWN by all the DRAMA over forward guidance. As usual....the short term traders and speculators are using this as an excuse to move the markets down. Nothing new here and nothing to be concerned about.....just the same old, same old.

 

LOL.....my "victorious day". Pretty slim green......but.....I will take anything. I was surprised that it ended up that the TECH GIANTS plus NIKE were the market leaders today....at least for me. NONE of my other names....COSTCO, HOME DEPOT, PROCTOR & GAMBLE, HONEYWELL....seemed to have any chance today.

 

SO.....what company has the BRAGGING RIGHTS?

Apple ranks as world's most profitable company: Report
Apple's profit modestly increased 3.9% to the tune of $57.41B

https://www.foxbusiness.com/markets/apple-most-profitable-company-world

(BOLD is my opinion OR what I consider important content)

"Apple is the most profitable company in the world, according to the Fortune Global 500 list for the 2020 fiscal year.

Apple's profit increased 3.9% to the tune of $57.41 billion, surpassing the nation's largest retailer Walmart and e-commerce giant Amazon.

For the past two years, Saudi Aramco held the top spot as the most profitable company before being dethroned by the tech giant, according to Fortune.

In terms of revenue, however, Walmart claimed the top spot on the list which ranks the top 500 corporations worldwide as measured by revenue.

In total, the Fortune Global 500 companies generated revenues totaling more than one-third of the world's GDP[ gross domestic product] at about $31.7 trillion. Still, it's a 5% decrease of a record $33.3 trillion from last year's list.

This also marked the first decline in half a decade, according to Fortune.

"The culprit, of course, was COVID-19, which slammed huge swaths of the global economy as countries went into lockdown," Fortune said.

In terms of profits, the companies amassed a combined $1.6 trillion, a decline of about 20% from last year.

Despite the disruption, however, the Global 500 "showed the world how to adapt, evolve, and reinvent themselves," according to Fortune.

Here are the top 10 companies on the Fortune Global 500 list for the 2020 fiscal year:

1. Walmart
2. State Grid
3. Amazon
4. China National Petroleum
5. Sinopec Group
6. Apple
7. CVS Health
8. UnitedHealth Group
9. Toyota Motor
10. Volkswagen"

MY COMMENT

Nice to see 2 of my holdings in that list.....AMAZON, APPLE. FUN....but one of those statistical beauty contests that does not mean anything.

 

NO.....picking investments by social media is NOT a good thing.

For Retail Investors, It’s Buyers Beware

https://www.nationalreview.com/2021/08/for-retail-investors-its-buyers-beware/

(BOLD is my opinion OR what I consider important content)

"Trevor Milton, the founder of electric-truck manufacturer Nikola, has been charged by the SEC with securities fraud after he allegedly made false and misleading claims about the company. Milton is charged with lying to investors about Nikola’s ability to build functional prototypes in order to boost his company’s value. Unfortunately, if these allegations are true, everyday retail investors on Robinhood and other apps will be significantly damaged financially. The charges against Milton and Nikola’s sinking market value show that retail investors should be wary about buying into stock fads.

Milton sold a version of Nikola not as it was — an early stage company with a novel idea to commercialize yet-to-be proven products and technology — but rather as a trail-blazing company that had already achieved many groundbreaking and game-changing milestones. . . . Instead, much of what Milton represented as accomplishments were, at best, internal targets years away from completion and subject to significant execution risks or, worse, ideas conceived only on paper.

The evidence against Milton seems quite strong, given that Milton publicized his company across the Internet — for instance, with this video of the Nikola Two “driving” down a hill. It has come out that the Nikola One shown was not, in fact, driving but was towed up a hill and then rolled down to a stop.

Milton’s own words provide more damning evidence. In one video, Milton told reporters repeatedly that the Nikola One model he presented to the public was “not a pusher” but a fully functioning vehicle. Unfortunately, that was verifiably false. It is now known that the vehicle Milton wowed audiences with was hooked to electrical outlets during demonstrations.

Milton left the company he founded last year in September over fraud concerns, and it is important to note that the company itself has not been charged with any wrongdoing. But while Nikola has sought to distance itself from Milton, Milton’s legal problems have affected the company’s financials. The investigation into Milton started last year, and since then Nikola has lost billions of dollars, and an anticipated partnership with GM has fallen through.

Nikola’s stock price has dropped dramatically recently, and the fate of Nikola stock will affect more than hedge-fund investors. Milton was able to access lucrative markets by going public through a Special Purpose Acquisition Company (SPAC) deal that heavily targeted retail investment. Milton aggressively targeted retail investors, according to the SEC, looking to boost the profile of the company. Thousands of everyday people who invest on Robinhood or other trading apps, called retail investors, put their money into Nikola. The SEC alleges,

On June 8, 2020, Milton shared a tweet with a senior Nikola executive reflecting that over 36,000 new Robinhood users became Nikola stockholders that day. The senior executive responded, in part, by expressing his amazement at how many calls he received “from retail investors today that have no clue about Nikola, other than their friends told them to buy. A lot of hype out there with retail investors,” to which Milton replied: “That’s how you build a foundation. Love it.”

Undoubtedly, some were under the impression that Milton was a genius who was revolutionizing the market with his tech-truck company. The Justice Department found that many took money from their savings or retirement accounts to invest in Nikola. For those traders, their losses from the stock drop will be difficult to recoup unless Nikola can find a way to turn promises into products.

This points to two problems with en masse retail investing. For one, retail investors don’t research companies in the same way hedge-fund managers do, nor are they well versed in company-valuation techniques. Trading, definitionally, is not their job. Yet, knowing the stock market is important to make sound investments. So there is naturally going to be a misallocation of capital away from companies that may need financing.

More important, though, this misallocation of resources will hurt everyday Americans who buy stocks such as Nikola. The GameStop frenzy was a perfect example of this. Everyday investors were trying to hurt short sellers, but they ended up holding millions of dollars of depreciating stock. In the case of Nikola, short sellers were the first to be skeptical of the company’s valuation, and their analysis has turned out to be right.

If there is one positive we can take from the rise and fall of Trevor Milton, it should be that retail investors need a more conservative mindset. Investing in burgeoning and speculative markets is alluring. However, the promise of get-rich-quick stocks can be used by charismatic salesmen to boost profits. In a world of social-media editing, deep fakes, and snake-oil salesmen, intelligent investing is needed now more than ever."

MY COMMENT

THIS....is FANTASY investing. Actually....it is not investing at all....it is throwing money at a totally unproven company with the.....hope and a prayer......that the company will make it big and make millions for the SPECULATOR. Unfortunately many of the people that put money into this sort of DISASTER......dont know better and think this is how you are supposed to invest.

This SOCIAL MEDIA based investing is simply.....GAMBLING......uneducated gambling. these are people that do not look in the slightest at any of the fundamentals....or lack of fundamentals. Of course......this GARBAGE is massively EGGED ON by the financial media. The role of the media in getting people to buy this GARBAGE is DISGUSTING.

AND....it is not like the "professionals" are so smart either........look at Bernie Madoff. The professional Hedge Fund managers were fooled by him for decades....when the slightest bit of LOGIC and a bit of a look under the hood would have shown that it was ALL one BIG FRAUD. BUT.....even the SEC stood by in the face of OBVIOUS warnings and did nothing. ALL they had to do was audit a single account.

Than we have the.....(unnamed) case......of the laboratory company with their FAKE blood tests. ANOTHER perfect example of the financial media pushing and FAWNING over a company that was a total FRAUD.

The BOTTOM LINE......do not invest in companies that do not have ACTUAL fundamentals. DO NOT....invest in companies based on Social Media and hype and FAD.

 

I an off to San Antonio. Gone all day. I got the markets open in the green. Take over for the rest of the day Emmett.