Best Buy?

Other than the airlines and Verizon, Best Buy is my least favorite brand. 

I spent tens of thousands of dollars at the stores in my 20’s. They owned me. 

Once I started to make a few dollars and paid off my bait and switch Best Buy credit line, I swore them off. 

This week the stock hit all-time highs. Ugh. 

Amazon should be ashamed of themselves. 

Seeking Inspiration…

Picasso said this:

‘Without great solitude no serious work is possible’ (thanks Sean)

If I only had the time!

I have been struggling of late. Part low energy Jeb Bush and Angry Donald Trump. Not a good combo for being the best Howie.

Ellen is basically running the Lindzon household, Rachel and Max are low maintenance, Tom and Gary get shit done at our firm and I have no day to day responsibility at Stocktwits.

If I was told I could check the boxes on all four of these things in 2016, I would have said ‘party in 2017’!

I am seeking inspiration.

I loathe looking for inspiration because it means I have to change up my habits, but that I must do. I need to read new people. Luckily I get paid to do that and be just slightly ahead of the curve.

One person helping inspire me the last few months is Professor Galloway. He’s crushing it on the writing and research front and he is innovating on delivery. His style is original, very digestible and quite entertaining. The fact that he is using video and making it look pretty simple is also very cool.

This piece he wrote last week for graduates – ‘No Mercy, No Malice: Commence‘ is outstanding. I sent it to my graduated nephews and nieces.

The crib notes/advice – though you must read it all – is:

1. Do Not follow your passion

2. Boring is Sexy

3. Get to a City

4. Mate

5. Get Strong

6. Be Fast

7. Balance is a myth

I plan on getting real quiet in June to try a bit of that guy Picasso’s advice and come back a bit faster.

As professor Galloway says, the world does not belong to the big, but to the fast.

Body Slamming the Bears …

I’m banging out today’s blog post from my iPhone which sums up why the Nasdaq keeps hitting new highs. 

The index of global stocks is also at all-time highs today:

It’s so easy right now that millennials can use a fidget spinner to pick stocks and beat the market:

Bitcoins are changing hands at $2500

Ethereum (which 99 percent of people think is something you take at the Dentist) is now above $200. 

Amazon is a few percent shy of $1000 per share.  

Even old time retail founders are saying they blew it:

I’m enjoying the rally as best I can for a conservative Canadian. 

The only thing that stops this market in its tracks at the moment is waking up to find that Satoshi is really Donald Trump. 

Milestones 

Today our son Max graduated from High School. 


Max loves everything about school other than the school part. 

This year it was a lot less golf and a lot more school.

We are proud of him.

Now get out of my house. 

How Many Bankers Did it Take to Grow Ethereum?

I. Have. Ethereum. Fever.

Way back in January 2017 when Obama was still President and there were still terrorists…Ethereum was $8.

Tonight it trades at $170. The market capitalization is $15 billion.

Here is a price chart of Ethereum:

I was pretty late to the Ethereum fever back in March, 2017, when I added a bit and showed a few symptoms.

By the beginning of April, after Fred Wilson mentioned at our Stocktoberfest that the market cap of Ethereum could surpass that of Bitcoin in 2017, a lot of people seemed to have taken that seriously!

Ethereum fever, like all financial fevers, will run it’s course.

The best thing about Ethereum, and the one story that is not being told, is the amount of bankers involved.

ZERO

.

There was no Morgan Stanley ‘series F’ or IPO.

Goldman wealth managers have no list of Ethereum shareholders. They have to sneak onto Twitter with fake emails to see who is bragging about it.

There will be hundreds of billions, if not trillions of dollars created in the crypto currency and token economy and the banks will see zilch.

I was watching the HBO movie on Bernie Madoff tonight. It was well done. My biggest takeaways:

1. How lucky the bank CEO’s and other execs continue to be for not having to do the perp walk.

2. How bungled the SEC and FINRA will always be.

Software has found a way to eat away at the too big to fail banks and lay waste to ancient securities laws and regulations.

For that alone, this fever is pretty healthy.

PS – Do not chase Ethereum. Wait for the fever to catch a cold.

Are You a Nutjob or a Smart Cookie?

Life is moving fast in 2017.

How fast?

I have to wear protective headgear on my United flights:

You can go public again and your shareholders might be 11 year olds in Korea:

Not fast enough?

Steve Bannon is dancing with men in Saudi Arabia:

Too slow?

Say Bitcoin three times and send a tweet and the price will rise $100.

While the world really is moving too fast for even me at the moment, we should all take a moment to slow down and remember to teach our kids that Kim Jong Un is the ‘nutjob’ and James Comey is the ‘smart cookie’.

Six Times Leverage and Four Minute Abs

Quick Warning – I’m just back from Boulder so please let’s take everything I say with a grain of salt until the THC has left my body.

Ok…disclosures made…onward

My friend Morgan dropped this today:

Tell people what they want to hear and it’s amazing how wrong you can be without penalty.

That’s pretty much the producer’s directive on CNN, FOX and CNBC.

My friend Naval said this today.

Blockchains, Virtual Reality, Machine Learning, Genomics, Autonomous Vehicles…it’s good to see tech business returning to its tech roots
.

Indeed!

This digital boom has been inconceivable in terms of duration and durability. The duration has brought out the bad behavior without much recourse, but the durability has been the bet that keeps paying.

The bad behavior is driving a lot of us mad, but I am confident in the good people I work with everyday, karma and history will work it’s wonders on the bad actors.

Brazil, Bitcoin and Basquiat…Dude

My friend Jon Boorman is a trend follower like me. He said this today which is so true:

If you come to the market without humility, it will surely give you some.

I woke up this morning and as always checked trending tickers on Stocktwits to see what was shaking.

Turns out it was Brazil.

The Brazil Country ETF was down over 10 percent. No way that could be correct. But it was.

The ETF closed down over 16 percent. That is mind boggling.

How much so?

The market move in Brazil today created a 7-sigma event for the Brazil ETF, which is supposed to (if markets followed a normal distribution) only happen once every 3,105,395,365 yrs (thanks Charlie).

The great news for home gamers is that there is a triple leveraged ETF for Brazil so if you were so bullish on Brazil, you could own it x3. The price for being 3 times leveraged to Brazil today was a mere 48 percent drop in your holdings. Columbia has cocaine. The US has three times leveraged ETF’s. Strike that…we will soon have 4 times leveraged ETFs.

On this same day Brazil was down 16 percent, Ethereum crossed $100, Bitcoin closed in on $1,900 and a Basquiat painting (dead American painter) sold for $110 million.

Just a typical day in May 2017.

PS – The Stocktwits daily email is growing fast and getting rave reviews. You can get it in your inbox each night at 7-30 pm eastern. Don’t just take it from me…

Almost Nothing can Stop This Market…

…almost nothing

Yesterday afternoon I was mixing it up on a few Stocktwits streams that were a little too ‘hot’.

Over 9 years of watching the streams, my naked eye tends to pick up the froth and conversations on penny stocks that may signal a form of exuberance and for me a sign to be careful.

On top of that, I have been writing about the $VIX the last few days trying to figure out how this market can seem to defy norms of volatility.

Of course, Yahoo Finance also ran this on their front page yesterday which turned out to be a kiss of death:

Today was a bloodbath.

We had the 7th largest spike in $VIX history – up 45 percent.

While politics does not move stock markets in general, today the Trump White House seems to truly be imploding on itself.

The markets have had a historic run and have been looking for a reason to sell off.

We might finally have a break in the relentless trend.

So – should you panic sell now yourself?

Not necessarily so.

My friend Charlie did some digging and tabled up some results. Take a read.