Don’t Just Do Something, Stand There.
Sometimes, the best thing to do is nothing. Such may be the case now. The markets are in turmoil. The Federal Reserve is hawkish on rates. The President says they are "crazy." Bond yields are going up... At the same time, companies are reporting increasing earnings. Revenues are up, and the tax break has given them billions of dollars with which to buy back their own stock - which is now trading at a low compared to a year ago. Meanwhile, my favorite company Square (NYSE: SQ) has lost its CFO, and the sellers have bitten into our former $100 share price, taking it down to today’s $69. But fear not (he said) Jack is still running the show, and they have multiple assets in house that are being run by other great leaders, so if you’re interested, there may be a time to get in over the next few days. The Wayback Machine has been set to early summer levels. For the record (if there is one) I have sold nothing, even though the temptation is there. I i...