Before I get into it on the markets, a few shoutouts.
I had the pleasure of attending the Propel Ventures CEO Summit today in beautiful Sausalito (north of San Francisco). Propel is a fintech venture fund and we invested together in Civic. I sat on on an incredible panel with founders in the crypto/fintech space. They are all great follows on Twitter if you care to stay up to date on the crypto industry and markets.
Ubering around San Francisco today I saw billboards from TWO Social Leverage companies. The first was Wag which was really funny:
The second was Robinhood’s:
Sidenote…please send your ‘this is the top’ snarky emails to someone else.
Elsewhere…
Zuckerstein took his Faceplant tour to Washington today and there are so many funny tweets I must share a few.
This one is funny, true and so sad all in 140 characters:
This caption to a viral photo of Zuckerweiss was great. I had to add to it.
Of course, the stock rallied $7 during his ‘poke’ session with politicians. If he spends 5 more days in Washington the stock will be back at all-time highs!
The Michael Cohen carnival is now on day two and the biggest winner is of course Twitter.
It was decided today that Henry Winkler will play Michael Cohen in the movie – likely titled ‘The Putz’.
This Twitter interaction between a different and innocent Michel Cohen and an not horrible Laura Ingraham just me laugh out loud.
Now to the markets and stocks…
At the risk of jinxing my portfolio, I am amazed that with all the market volatility and negative headlines I have not been stopped out of any core stock positions. Goldman Sachs did come close last week.
The markets are bending but not breaking and we continue to be in a good market for stock picking.
It turns out insanity is good for volatility but not fully bad for stocks.
As for the volatility which I linked to in my post yesterday, one chart needs to be shared again right here:
As JC says… ‘We’ve never seen speculators this prepared for a stock market crash. When the market is the most prepared for an event ever, is that event likely to occur?’
Here is some context for the volatility at the moment…The ATR (Average True Range) of the Nasdaq is the highest it has been since 2001. The coast is obviously not clear, but we may be getting closer to an end of a correction than the beginning of a bear market.
JC has a really good post on why stocks are still working and I won’t argue with it. I have a really long list of stocks I am tempted buy and some new 8-80 brands that are emerging.
I will keep an open mind.