Market Mayhem Moment
Just be glad you’re not managing other people’s money.
I don’t’ need to be another voice opining on what’s going to happen in the market for the simple reason: I have no idea...
Based on my conversations with others this weekend, neither does anybody else.
And by the time you read this, it may not matter. Things are moving that fast. Or not!
Place Your Bets
Yes, I do market commentary from time to time, but if we’ve learned nothing else it’s that when the story changes, so does the narrative. And the narrative here could change before this even it’s your inbox.
And those managing other people’s money, and tied to quarterly returns, face a different dilemma than people who manage their own money, especially with an eye toward the longer-term…
Unless, that is, you’re a retiree, where you may be the smartest of all if you’re money is locked up at 4%.
And unless, that is, this is the buying opportunity of the century.
Focusing on the Trees…
That’s the trillion dollar question.
And that’s why the best thing I can do right now is continue to focus on individual companies. If this doesn’t correct itself soon, even as companies have been smashed, some will get hit even harder… and those that had been papering over their flaws with gimmickry are likely get hammered the hardest.
That’s why, even with stocks where they are, I’m actively looking for new Red Flags.
Regardless of which way you’re leaning, one thing to keep in mind, courtesy of Piper Sandler strategist Michael Kantro, who put out a post trying to make sense of what’s going on. His bottom line: “Fair value is a perception, not a rule.” Or in context...
The trouble right now is that fear selling begets forced selling begets fear selling, begets... It’s a nasty cycle. And in this case, all self-inflicted… which makes it harder to game than prior “the world is ending” events.
Makes this one harder to game than the others.
DISCLAIMER: This is solely my opinion based on my observations and interpretations of events, based on published facts and filings, and should not be construed as personal investment advice. (Because it isn’t!) I do not have a position in this stock.
I can be reached at herb@herbgreenberg.com.