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Anyone here old enough to remember CMGI? I am, and I do. It was one of the hottest stocks on the planet back in 1999, making new highs every day and becoming a global trading sensation. Once reality began to rudely worm its way back into life, people joked the symbol stood for Can’t Make Good Investments. I think they went to $0. Anyway, SMCI is our new CMGI, and even with the news that it’s being shoved into the S&P 500, pre-market trading still hasn’t beat its high. We’ll see.
This is truly incredible…………
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Words fail me. Again. They’re fuckin’ CHICKEN WINGS.
When the markets are going up day after day, week after week, and month after month, I get especially contemplative. I probably think way too much for my own good anyway, but it’s “worse” when the markets are doing nothing but making daily new highs.
I think it’s fairly common for folks to think about the fantasy of leaping back to their younger selves and giving them some kind of advice or counsel which would serve them well. I’m not talking about something silly and specific like “Buy Bitcoin in 2010 and never, ever sell it” but something more general. This may come off as super-cynical, but it isn’t really meant to be. These are honestly the must-have tips I would offer my younger self for persistent success in the post-1987 U.S. equity market:
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