Note – I did a video with Jeff Macke which is a deeper dive and embedded the end of the post with links to key takeways from others.
My theme this year for the event was ‘Race to $1 Trillion’. By Friday, the biggest of technology made huge leaps towards the $Trillion as I call it.
I believe that smartphones, networks and ‘Social Leverage’ will get us there. It seems like the big money was listening to our conference.
Google jumped about $50 billion this week (about 1 $uber …wait hold that $uber is to raise money at $70 billion).
Facebook hit all-time highs.
Amazon hit all time highs.
Microsoft hit 17 year highs.
So here are my top ten takeaways beyond the $Trillion race in big cap technology:
1. Facebook is underestimated. I had a fireside chat with Ben Thompson who really dove into the subject me and got the audience thinking about it. I find it interesting that not one in 200 people in my ‘man on the street’ video mentioned Facebook (see last post).
2. Including Uber I call this group above ‘FAMGU’ which is different than Jim Cramer’s ‘FANG’. I don’t think Netflix will have it as easy going forward as I don’t see them being able to continually raise prices for content. Uber is basically a public company at this point. I also love Fred Wilson’s take on the subject here with ‘winner take most‘.
3. Oil may be headed for $20
4. Data/Information is the new oil (from Nasdaq). See point 3 above!
5. Any system of investing is better than NO system of investing. As Jerry Parker from Chesapeake pointed out to me that is why the $SPY beats most. It may be a rudimentary system for investing in stocks, but it is a system.
7. The Fed is not close to raising rates and it will be telegraphed and priced in before they do, so good luck wasting your time worrying. Furthermore, California remains a buy, Illinois an avoid…if you like municipal fixed income. My friend Bill Gurtin who manages approximately $10 billion in fixed income has appeared at all FOUR Stocktoberfest’s with the same mantra. He’s been right.
8. Key to successful training: Reverse engineer your successes and turn best practices into best processes. Key performance principle: Use it or lose it. If you are not exercising strengths, you are not going to strengthen. A lot of other wisdom was dropped by Dr. Brett Steenbarger a coach for hedge funds.
9. Chart Art (technical analysis) is alive and well. Stocktwits has helped me find and become friends with some of the most creative, intuitive, open minded and fun investors/traders on the planet. It was an all-star cast in attendance.
10. Write it down. While focusing on reverse engineering success should the goal, the act of writing down as much as you can, including your losses, is the path to better investing and trading.
Here is our Stocktoberfest wrap up video:
Just one of the awesome moments captured by a guest:
— Gerald Graves (@GeraldGraves34) October 20, 2015
More #stocktoberfest posts: