My dear friend Rob Reid, whom I’ve known since I was a kid, is an accomplished entrepreneur, investor, and author. He also runs a popular podcast whose most recent entry is with Fred Ehrsam, the co-founder of Coinbase. Rob has kindly given his OK to presenting this interview here, since I know many of you have a strong interest in this area. Enjoy!
I’m a big fan of Mystery Science Theatre 3000, and from that series I learned of a famously-bad movie director named Coleman Francis whose movies were “often criticized for their abysmal production values, repetitive plot devices, murky picture quality, and stilted acting.”
I must say that I’m reminded of the late Coleman Francis when I look at the equity market, because it’s become as boring as one of his movies. But what can one say about a market that looks like this, except that it sure has gone up a lot:
One of the few interesting patterns I see cooking right now is crude oil which, on an intraday basis, has an extremely well-formed top.
As you all know, in a shocking upset to Trump’s power, Doug Jones beat Roy Moore in the Alabama Senatorial election last night, giving Alabama its first Democratic senator in a quarter century. This jaw-dropping surprise led to a catastrophic drop in the equity markets of about one-third of a single percentage point, followed, of course, by a complete shake-off and rebound to the green.