Due to construction outside of the studio (and out of our control) we have been without power for much of the day, therefore, there will be no show today. We will post any updates if something changes.
As I was looking through some photos, for varying reasons, I came across this one and it was the date that hit me. To wit:
Now here’s the reason why it “hit me.”
The above represents a period of time in my life that some would argue was the “pinnacle” of achievement. e.g., I had just retired (3 years prior), moved to a brand new location in the country with fantastic weather and landscapes that inspire the term “God’s country” every-time you left the house. Moved into a just as beautiful, award winning property, that was better landscaped and appointed than most high end hotels. Again, a multiple award winning development for management and property details.
As you may garner from the above photograph – my smile – just about says it all. i.e., The kid everyone said “would never amount to anything” did all the things everyone said “couldn’t and wouldn’t.” Never-mind successfully grabbing more than one of life’s “Brass Rings.”
I felt precisely, at that moment of time, I hit life’s lottery. Nothing was given, I worked extremely hard for every break, many times with such life changing set backs I wondered if I had more in common with Job than Jobs.
Now the reason why I’m presenting the above is this: I’m not trying to impress you with anything. What I am trying to do is to impress upon you what came after, as a matter of fact, shortly after, because it’s the reason why I do what I do today. In actuality – it’s the genesis for much of it.
So to put the above picture in context I would like to present a few other “pictures” as they call them in Silicon Valley and let them speak for themselves. The “I take a picture” note on the first chart is the precise date the above photo was taken.
I’ve made further notes on them describing their relevance, so without further ado, here they are. To wit:
The reason for all the above is this…
I distinctly remember, like it was yesterday, all the so-called “smart crowd” arguing why the markets were doing this, that and other thing – only to be proven that they had precisely no clue at all, et al.
Now it is the same crowd (and many of the same ones from prior at that) not only saying the same arguments as they did prior, but proselytizing ever-the-more confidently than ever that there’s no reason for concern, because: The Fed’s got your back.
The only issue I’ll ask is this…
What happens when the Fed realizes that no one has theirs? Or for that matter:The “markets” realize it first? e.g., How much longer can Repo-maddness go on? And what happens when it stops? Or the reverse: what happens when everyone knows they can’t stop, ever?
That is when the real craziness will either begin – or end.
As always, we shall see.
© 2020 Mark St.Cyr
Today’s MYTR Broadcast is on holiday in observance of Martin Luther King Day in the U.S. and will return tomorrow.
Below is a short clip from March of 2010 when the iPad® was first being introduced to scores of jeers and finger-pointing on picking such a “stupid name.” It was also being touted as “Who’d in their right mind buy such a thing when they could have a laptop?” At the time of this recording, now a decade old, the results to whom had the right argument is now settled.
Remember: At the time of this recording the entirety of the mainstream business/financial media was playing down this idea and product with jubilant disdain. If you want to get an understanding – just think about how enamored they were with Snapchat™ and its IPO debut with fanfare and more – then – think the same only in the complete opposite direction. That was the reaction to not only the iPad at that time, but also the idea of Apps. i.e., “Who in their right mind would ever buy an App when it’s available on CDs?”
Sound familiar? If it doesn’t, let me put it this way:
“Who in their right mind would question the strength and fundamental underpinnings that are propelling this Bull market?” ________(fill in your mainstream business/financial media pundit of choice here)
Now, since history has recorded the results – it’s proved I was the one far more correct in my assessment of the first two items. And, once again, all during that time to the howls and screeds of said media pundits. How the latter one plays out is still open for debate. But as my track record shows, I seem to have a bit more deductive reasoning power than most of the so-called “smart crowd.”
Although they do still howl and screed like a 2-year-old.
Some things never change.
© 2020 Mark St.Cyr
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It appears that a few emails are going out as posts as we try and sort things out on the site.
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