Before I get started…this made me LOL today:
Welcome to the FBI, Director Baio. pic.twitter.com/iA6NKp3F2A
— Eddy Elfenbein (@EddyElfenbein) May 9, 2017
Ok here we go…
All weekend I was bombarded with links to the Fyre Festival. It’s as if Seth Myers, Steven Colbert and Comedy Central were colluding to create a competitor to Breitbart and The Drudge Report.
It reminded me a lot of our political system and the stock market.
Are we all on our way to the Fyre Festival?
Most of my portfolio is digital.
I do not have a point of view on oil, gold or physical products that are not socks, underwear, shoes with a swoosh, man pants or Apple hardware.
A LOT makes sense to me today as someone that is connected all day to the internet:
The Semiconductor index closed at all-time highs
Apple closed at all-time highs;
Alibaba closed at all time highs;
Tencent closed at all-time highs;
Facebook is inches from it’s all-time high;
Bitcoin is trading at all-time highs;
Twitter is miles from it’s all time highs (only because it is managed by it’s board).
Some things that will never make sense to me in this digital era:
United Airlines closed at all-time highs;
Verizon, Comcast and AT&T being given more power.
I worry more about the price of United Airlines and the power plays by Verizon/ATT/Comcast than my digital assets being priced for 2020 perfection. We all should.
The air we fly and the digital ocean we surf are being cornered by lobbyists, Goldman Sachs, Blackrock and Warren Buffett who hate our guts.
This is not showing up in the VIX, or the front pages of CNN, The WSJ, The New York Times and/or The Washington Post.
Also published on Medium.