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It’s hazardous to mix smart people with money. Here in the Silicon Valley, I’m surrounded by super-smart loonies that come up with the most ridiculous ideas, such as the notion of filling yourself with the blood of younger humans in order to sustain your own life.
Does Peter Thiel seriously want to be stumbling around at the age of 140? Even more important, do any of us want to see a 140 year old Peter Thiel inching his way toward the bathroom again, living day to day in a painful stupor? Yeah, I didn’t think so. Our present lifespan is just about right.
Anyway, of all the dumb ideas my wealthy neighbors wallow around in, this has got to be the most annoying one of all:
I have a friend who, from what I can tell, has done quite well in this never-ending bull market we’re in. Lately she’s been mentioning to me (repeatedly) a stock I had never heard of called Shockwave Medical (symbol SWAV). It hasn’t been around that long, so there isn’t much data, but you can see it’s been on a tear lately.
The risks of chasing hot stocks can be illustrated with this morning’s Exhibit A, which is Xilinx. This is one of those company which I have no idea what it does, but it has a name like a Hollywood film would give to some made-up Silicon Valley corporation as a villain. Anyway:
Dear God, this market is boring. As I type this, the SPY is up eight hundredths of a single percent. If you’re bored out of your mind, you ain’t alone.
We’re range-bound. I guess there’s just nothing to inspire the market one way or the other. Not only are we in a tiny range, we’re exactly in the middle of the range, which is like a boring cake with boring icing on top.
Note: This is not market analysis. This is a person writing words and inserting some funny pictures. It is a product of said person’s view of psychology and the modern market.
First off, my honest self-evaluation: I would be pleased to see the US stock market to go down again, not because I am positioned for it (I am not, yet, other than through fairly non-dramatic risk management like portfolio balancing, profit taking and keeping high cash levels as appropriate) but because I feel like the bull was cooked up by an evil man named Ben Bernanke.
When I write “the bull” I am not talking about the post-Christmas Eve rally. That had to happen and at the time I was buying the spiking fear and panic. I am talking about the post-2008 bull market.
Regarding Bernanke, evil is probably too strong a word but I consider the effects of his policy to have been purely evil, exponentially enriching the already rich and driving the middle class to the verge of… electing an American TV character who says the right things to those who want, no need to hear those right things after the Bernanke years of abuse (ironically, with the distribution to the rich taking place under a president thought of as a socialist redistributor… only in America). (more…)