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Throughout my life, there’s typically been one person who decides how much I get paid; me. Since so much of that time has been involved in starting up a small business, oftentimes my salary – – if you want to call it that – – was just minuscule.
I remember quite well in 1993 that I was only able to pay myself $1,000 per month. Let’s just say that was a challenging time.
Just a reminder that next week we finally kick in to the heavy part of the earnings season. I’m looking forward to having a market moved by actual corporate results instead of whatever some Fed official is yammering about. And you can see this for yourself at any time on our quarterly reports page.
Greetings from Durham, North Carolina, where my beloved son and I just toured around Duke University – – just for the hell of it. He isn’t going to be going there, but it’s a lovely school, and since we were in the neighborhood, we absolutely wanted to stroll around. I am coming to you from a Venezuelan restaurant, as I felt terribly guilty about the recent paucity of my posts.
I enjoyed an absolutely fascinating drive through rural North Carolina, making our way from Charlotte to our airport destination of Raleigh. Driving along the freeway is quite sterile – – just countless millions of trees. No homes. No businesses. Just wilderness.
Back in 1979, when I moved from Louisiana to the Bay Area in California, I was asked a lot of strange questions, such as if I knew anyone in the Ku Klux Klan. People seemed to think that every white person from the south hated blacks and that we were all a bunch of fiery rednecks.
I didn’t understand this, even at a young age, for a couple of reasons. First of all, I had been around black people all my life, including being raised by a black nanny, and second, the kids in Moraga, California sured seemed a whole hell of a lot more homogenous than where I came from. If anyone should be asked about racial integration, it was them, not me.
What a totally BIZARRE day for me. I am, as most of you know, in the thick of a trip with a lot of traveling, so I was “offline” about 90% of the trading day. Such a circumstance is very painful for me, and one which I try to avoid, but on the heels of a 35%+ quarter, I gave myself a little leeway. Anyway, here’s kind of how things played out over the past thirty hours:
Today I’ll be driving through the rural beauty of northern Georgia and into North Carolina, so I’ll be out of pocket for a number of hours. Once I’m settled in, though, I’ll get back into the swing of things. Until thing, talk amongst yourselves. (UPDATE: I’m actually just about done driving, but this explains why I’ve been so quiet today; I’ll do a meaty post tonight).
Over the past quarter-century, locales all over the world have tried to ape the success of Silicon Valley. There’s been Silicon _________ of all kinds, like Prairie, Gulch, Swamp, etc. But the secret sauce of Santa Clara Valley, which I suppose is a combination of Stanford, venture capital, and about half a century of momentum/inertia, seems to keep 94301 in the pink.
I’m in Georgia at the moment, and this morning I went into a well-reviewed coffee shop to get some drinks for the family. The guy mentioned it was a shared workspace, and he just rented out the corner. While he made the drinks, I wandered around the place, curious to see what it was like.
I am an old man and have known a great many troubles, but most of them never happened.
I worry way too much.
There have been times when this has been beneficial. When I first became a parent, it occurred to me I could walk into any room and instantly do a threat assessment. Any sharp edges, corners, or other physical hazards became instantly clear to my eyes. My caution and awareness has surely saved our children plenty of injury.
Well, almost. I decided to quit messing around with ANY remaining shorts since I keep stating how deeply oversold things remain. Why have shorts just for the sake of getting stopped out?
Thus, for the first time in years, I have one and only one position: a short in TLT. So if the market wants to break my heart, it would be a good time to crash right about now. Because I am only short bonds.
Hey, Slopers – – sorry to be AWOL on you, but I’m dealing with some mombo computer troubles. This is where nearly 40 years of experience comes in handy, because this one is a doozy (nothing to do with Slope; just my own machines). Anyway, I’m missing out on trading, but at least there’s absolutely nothing going on in the markets (cough cough cough).