Crazy. That is the only word I can come up with to describe this week and how I’m feeling. The S&P declined 3.4% but no one seemed to notice as Robinhood stocks surged to all time highs.
This current market has many resemblances to prior exuberance market rallies which each faded into the oblivion of a massive market crash. I highlighted my thoughts on the current state of the market in the previous email so won’t dredge on here. Plus it is a Friday and who wants to hear about doom and gloom.
Today should be a celebration for all who made fat stacks of cash. THE MEME STOCKS!
Meme stocks took off like a rocket ship and my boys make a killing. Not only did we make fat stack of cash but we took down a hedge fund and made national news.
Seriously insane and unexpected. Who would have knew that meme stocks would unite the country? The next time there is civil unrest, we will unleash the power of meme stocks.
I don’t have much investing thoughts this afternoon. It’s a Friday! Time to stop thinking about the markets for the next two days (but who really does that?)
If you made some fat stacks of cash spend some time thinking about risk management.
Do you really want to keep holding out for more incremental gains? You could be set for life with what you have now. Don’t get too greedy and take some risk off the table - nothing wrong with that.
During this quick two day break from the markets, spend some time learning more about the markets. Here are a few of my favorite books on investing, business and life that I have found helpful with my investing career.
Margin of Safety (need to find PDF)
It never hurts to read a few 10-K’s either when the market is closed and you don’t have distractions.
I will likely be bored this weekend and cooped up in my small apartment. Drop a few stocks you like in the comment section below and tell me why you like them.
Have a great weekend and happy Friday.
Top Posts On Wall Street Bets
That’s the whole story apes:
How to buy GME Above Broker Limits