This made me laugh and worry for our future:
1970: By 2017 we will have flying cars
— DR FRL 🇵🇹 (@filipeluisrl) August 20, 2017
I try and avoid spending time with shmos.
Urban Dictionary defines a shmo as:
A dumb person, a person that has ignorance and no reality of life. A shmo thinks life revolves around them.
I have many shmo scars.
With stocks I like to say ‘lows are for shmos’.
On Friday, the percentage of stocks at new yearly lows was the highest since February.
For the most part the shmos of 2017 – energy and retail – are where they are for a reason.
The biggest shmo of them all is taking credit for the rally in stocks since January. I doubt he will be talking about the markets if the new lows persist.
PS – In 2009, most stocks were at lows. If you liked stocks you were considered a shmo, so all shmo bets were off.
Also published on Medium.