Ellen and I watched Fyre Festival on Netflix.
The documentary was good, made possible by all the footage Billy MacFarland wanted taken.
If you have not been part of a fraud or worked alongside a sociopath you are lucky. Odds are you will.
Watching the movie might help you spot a fraud. Sociopaths are much harder to spot.
To the markets…
The S&P has moved right into a chuck of meaty resistance and the 200 day moving average is directly overhead:
The semiconductor index was wrecked in the fall, but last Thursday had their best day in 10 years. The index rose again Friday, despite Intel weakness. Despite the gains you can clearly see the technical road ahead is thick with underwater sellers:
I think Tesla will be the big earnings story of the week on Wednesday and it might get wild. I am only concerned about the big picture here which would mean a close below $240 (oh oh) or a breakout above $400 (profitability seems sustainable) and I doubt this specific earnings is the one that gets us either:
For laughs…I thought this Bill Maher ‘new rule’ of #adulting was really funny with a lot of truthiness:
Bill Ackman may think he’s cool and knows how to use Twitter, but he walked right into this one and I loved it:
And finally the economy…the economy has been great to me since forever. I have no complaints. I know that this boom in startups will end, but I am not paid to time it. I am paid to find great founders and teams with great products and invest. I encourage those great founders and teams to find customers and not think too hard about the ‘macro’. I encourage them to act like the financing we are able to provide might just be the last.
The economy on my Twitter feed (since the government shutdown) is filled with stories of people that don’t have one paycheck of wiggle room.
The economy that worries me most is the global one that counts private equity as one of the world’s largest employers:
PE firms are slashers of jobs, not growers…please keep that in mind.
The Federal government is like one giant Fyre Festival when it comes to talking to the population about the economy.