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absolute valuation, Alphabet, annual review, buy and hold, coronavirus, Cpl Resources plc, Donegal Investment Group, Ebola, GARP investing, growth stocks, isolationism, KR1 plc, populism, portfolio performance, Record plc, relative valuation
It’s still January…so by now, I’m sweating to wrap this up by month-end (at the very latest!), while you’re probably feeling besieged (& bamboozled) by the media’s parade of talking heads who seamlessly re-write their broken #2019 narratives & still pitch their #2020 market prognostications with undaunted confidence. Which is a tad discouraging when I’m busy trying to come up with my own unique version & perspective…albeit, in the wake of a fantastic year (talk about looking a gift horse in the mouth!).
Seriously…name a market/asset class that actually declined!?
But rewind a year & check the gamut of their 2019 predictions, and (once again) you’ll remember/realise they’re full of highly paid shit! So before I even start – let alone, God forbid, pontificate – I’ll share the only piece of market wisdom you really need to know, above all else:
And that quote’s about the movie business! Granted, for anyone who cares, Hollywood probably seems like the most impressive Rube Goldberg contraption in the world…but frankly, figuring it out is a total cake-walk compared to grappling with & predicting what might actually happen next in the markets & the global economy! But unfortunately, that’s how we all step up & play the game:
Like useless office work expanding to fill all available time…useless market forecasts expand to fill all available airtime & news holes!
Probably my greatest investing achievement in the last year was switching off the financial media – and yeah, I stopped paying attention to brokers years ago – is it any wonder I reported such negligible portfolio activity? [It’s a real travesty seeing #buyandhold investors re-classified as chumps over the years (& decades)]. And in reality, markets are primarily focused on trying to discount a 12-18 month time-horizon, which means a diet of narrative manufactured to simply explain yesterday & today’s market/stock zig-zags is just irrelevant & misleading anyway. And so, I recommend you do the same: Go on, just switch off that guy on the box, you know the one…he just happened to attend some ‘school in Boston’, and is now an instant expert on epidemiology and up & to the right #coronavirus charts! Again:
‘Nobody knows anything…’
