recovery from the COVID drop has been spectacular, quick, complex, and shifting. The market’s broadening, now, including the financials, and cyclicals. And what’s that about? Speculation, not economic expansion. But it also reflects investors repositioning at smart prices for more recovery.
Big names rock daily now. And what’s that? It’s a mix of the run too far, the too expensive, the about to be repeatedly beaten. Think the air and cruise lines, and the raging SaaS cloud plays. The easy money’s already been made. For the non-secular spec plays, it’s all battle field roulette going forward. Look for the massive cracks and gaping holes in travel/hospitality businesses. Look for corrections for many things 50% higher now.
Trading is a new discipline to us and we traded furiously for three weeks. Then we put our hands in our pockets and simply hawked over the action for the past two. Below is what’s left. We made money and mistakes. We lost no money. Why? In part because we didn’t sell what sunk below the waves. Credibility flows from clarity. See that now in “Our Portfolio. Really.”
most know and we’ve just stated, we have recently begun trading, on top of investing. Only appropriately so. They go hand-in-hand. Trading however is an entire set of disciplines, many new to us. Trading also means rapid portfolio turnover. That’s in part why our current hand is not diversified. Think gold miners–too many gold miners. In several recent pieces we’ve provided the thrills of our new trading vice. Now we provide the current position of our on-going investing journey. Far larger study charts are newly posted under our utterly rebuilt “Portfolio” link;
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