Important Note – First and foremost, I give all the praise and glory to my Lord & Savior Jesus Christ for everything including my next breath!
- A reminder that my personal blog’s main purpose is to keep clients and friends up-to-date on my financial markets observations. It’s not to be used in any manner related to investment advice as per our disclosure.
- Many former newsletter subscribers and attendees to my many media and conference appearances in Canada over 25 years, continue to read my blogs (and try to contact me). I’m grateful, but know that we can only accept U.S. residents as clients. I can tell you that Canada was my “home away from home” for 25 years. I would only trust one financial advisor, who I had the pleasure to have met during those years, that I would trust with my own money, Mr. Paul Philip.
I’ve no arrangement of any kind with Paul and he does very similar work to what we do.
Okay, now for a quick update:
- I closed out my personal short U.S. stock market position around noon on Friday. The gains more than made up for previous unsuccessful short positions taken in 2017. I will not make mention of personal speculations/investments of mine anymore because I still hear about people enacting them and then seeking advice on them, and that’s not the purpose of having mentioned it. My last two individual stock holdings are now profitable on paper and my hope is to close them out that way and be forever done with individual stocks. Clients know the Registered Investment Advisors that are part of our team only use, low-cost, diversified index funds. Nobel Laureates studies (not the biased ones from financial institutions) have clearly demonstrated that 8 out of 10 active money managers underperform the Indexes and those who outperform one year, almost never do the same the next. Having made and lost millions on my own and was once called a “Whiz Kid” despite that, what’s ever left in my natural life will be limited to this theme, and also low-cost, Biblically-responsible Index Funds like “Inspire Investing”.
- A significant reason for taking profits in my short positions was the personal technical work that I do, suggested the short-term selling was exhausted. Sure enough, the DJIA rallied 700 points from when I covered. I believe we can see the market rally back hard next week, as the first sell-offs in Parabolic Arc formations are almost always assumed to be buying opportunities. While the “Talking Heads” will be back bright and early Monday on the financial airwaves, telling all, who still will listen to them, “it’s all good long-term”, I will remain here and welcomed those who joined me before this recent sell-off began:
I find no shame in a “live chicken versus dead-duck” philosophy.