Here is a recap of what you missed this week (WYMTW).
The video is below, you can subscribe to that, and I am opening up Q&A again for a weekly Q&A on these posts. Email in to submit - Q&A is at the end of this week.
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GOOGL 0.00%↑ was strong this week and a Top 3 idea in the report
Housing starts missed (LongVol)
Alibaba - Tepper added into his position which helped sentiment
Wake surf season is officially here which is one of the best hobbies I picked up in the last 4 years - I’m obsessed with it. I like surfing but where I am at in Puerto Rico is 2 hours from the nice surf-spots plus this style (with a boat) is 1000x better than having to paddle in and out after sets.
This will be the MO this Summer, that and getting the RIA off the ground and going. Me and my partner Sam are in the first steps of starting it and it’s welcomed given the delays (self imposed) that have come from it.
The hedge fund and money management space is in shambles, or at least how I see it and that’s in part to ESG mandates, indexing and other corporate handcuffs that have been placed on it. The era I came up in (pre 2010) was the best era for hedge funds possible - there was one goal: make money by any means necessary.
Now, we’ve got indexing from advisors and hedge funds underperforming but people keep their money with them. I really believe that this era has been, and will continue to be, an era of “free money”primarily driven by the stupidity of Central Bankers and Governments but also by the lack of skill in both the hedge fund pod-shops and money management space.
This was from a conversation on X last night - I agreed with all of what he said primarily because this is the era where everyone things they can do anything and that drives the era of guru.
And those gurus, they’re making a lot of money pandering to it.
My belief is that idiocy doesn’t just end from the guru crowd and that it’s well imbedded from the clients who give their money to these underperforming, closet-indexing hedge funds and annuity-selling financial advisors.
But….maybe we can make Hedge Funds and Money Management great again.
Moving on…
The Market at Large
The markets pressed higher this week and that was the general idea in the Report last Sunday provided we cleared a technical signal.
Real estate continues to push higher this month and it makes sense to me given some of the price chart signals I’ve been tracking, primarily on XHB 0.00%↑ - I have a target on that at $120-$130 then that’s where I want to see what becomes.
Tech names continue to push higher: GOOGL 0.00%↑ MSFT 0.00%↑ and TSM 0.00%↑ were my top ideas this week and I talked about TSM 0.00%↑ here with you all last week.
I don’t see those changing but I’ll get into it this week in the report.
We have some trades on in the AST Portfolio - FCX 0.00%↑ is one of them - some people started to cash out this week.
Others are still in play and take time - a concept most of you seem to have a hard time with if it doesn’t move in 5 minutes. Which begs the question; are you doing this to bring variety to your day or are you here to actually make money?
Something to think about…
I’m headed out for the day.
Issue 21 will be out tomorrow morning if you’re a free reader get the trial and do yourself a favor…or don’t.
Dan