- Eight years ago, while publishing my “Grandich Newsletter (1984-2015), I wrote an extensive piece on why I believed Obama would be a disaster as President. I was taken to task for doing so from literally all around the world. The two key factors to my belief back then was, his total lack of real work experience, and his history of comments on matters that would directly impact his governing.
I now avoid 99% of the time, commenting both professionally here and personally on social media, matters related to politics. But after last night’s speech, which I made every attempt to watch with as much as an open-mind as possible, I can only conclude by saying I’m truly glad he’s going. His damage is enormous and despite what some would assume, I’m not convince Trump is the answer to all our economic, social and political issues. As previously stated, I was okay with him winning simply because I believe Obama took us to the edge of the abyss and Hillary Clinton would’ve pushed us in.
As noted in my New Year’s commentary, all the factors that I believe had led us to the threshold of the worse economic, social and political era in America’s history, hasn’t changed one iota. The only difference since the Election is, the belief Trump can move mountains. While I don’t doubt he will be
more to the liking than Obama, the enormity of the issues overwhelm even his tremendous ego – IMHO
- While the “Don’t Worry, Be Happy” crowd on Wall Street (and much of the financial media that lives off them) fixates on “Dow 20,000”, a far more important “number” is being set in motion to become a financial “self-fulfilling prophecy”. If enough people speak and get fixed on it, that in itself will cause what the perception suggests it will become and end up a reality “if and when” it’s hit. The person hitting the drum hardest on this coming “self-fulfilling” number is Bill Gross and the 10-yr. T-Bond crossing 2.60% I watch for that to be more important to your portfolio than the 20,000 DJIA.
- China is not Japan. One area of Trump’s proposed plan of action that greatly concerns me, is the tough talk over China. As this article points out, I think Trump would be making a major mistake to go toe to toe with China, especially given America was in much better financial shape when it did so with Japan back almost 40 years ago.
- I continue to see so many people going down a road that almost always assures net losses (many times very significant) – trading stocks. I can truly count on my hand the # of professionals and individual investors I know who made real money trading after it was all said and done. Almost all who managed to, got either extremely lucky or had an “advantage” not afforded to the masses.Wall Street created the word “speculating” so it wouldn’t have to call it what it really is – gambling.
Most gamblers lose and so will be the case for most investors who think they can trade their way to riches. Here’s a good article to help cure that addiction (But I know telling this to those trading now, would be like walking into a racetrack and telling the betters almost no one wins over time. Just about all will ignore and place their bets on the next race).
Me? I went to Gamblers Anonymous. They gave me “2 to 1” I don’t make it -lol