The Inverse Cramer Effect
Jim Cramer used to be a somewhat reliable source for stock tips but over the past few years a phenomenon called the “Inverse Cramer Effect” has been born. It seems like when it comes to 99.9% of his advice the exact opposite of what he predicts tends to happen. Cramer’s record has become uncannily bad. It's become so bad infact that a lot of people have done very well in the market making the exact opposite moves as what he suggests.
If Cramer says a stock is set to perform very well, it’s time to sell. If he says it’s time to sell, you’d better be buying. Considering his record of being wrong his latest comment about this last market drop concerns me. We’ve been due for a huge market downturn for a while. Is this the beginning of it? The markets certainly have retraced quite a bit this morning so far. I had assumed the powers that be would try to postpone a market correction until after the US Presidential election but time will tell. Jim, stay away from my portfolio.
Breathe and Allow Things to Pass
Someone's whose advice I do tend to trust is Warren Buffett. Yes, he's old and some of his investment philosophy does seem outdated at times but his track record is the antithesis of Cramer's and speaks for itself. This Buffett quote captured by attention this past week, not only in terms of investing but for life in general.
We live in such a highly reactionary world right now. At times it seems impossible that cooler heads will prevail. This trend seems to be unfolding all around us right now. People seem unbalanced, unhappy, and completely frazzled. Now more than ever it's important to sit back and observe with logic. It's very rare that something good comes of allowing outside forces to trigger our reactions.
Sometimes we all need that reminder to take a beat and just... breathe.
Squirrel Therapy
Our squirrel therapy has continued this week. Despite the stifling heat and humidity of the late Minnesota summer we've found a way to make it to the park a few times. The humidity levels reached 92% on morning this week!
Despite the crippling heat, communing with nature sure does make the worries of life melt away. We try to either get out first thing in the morning or shortly before sunset when it's cooler. I now have two squirrels that will eat right out of my hand.
Frugality, My Old Friend
Remember when I said a while back that I can't pass up a good bargain? I've been searching for a navy blue blazer to take with me on trips. These things are unbelievably versatile, the Swiss Army knife of mens apparel. You can dress a navy blue blazer down with jeans, a t-shirt, and white sneakers or a button down shirt, and casual shoes if you want to go a little more formal.
Remember that intrusive marketing that I was complaining about the other day in The Pestering? Well, the mighty marketing gods trying to prove me wrong and "the pestering" ended up working in my favor. An email from eBay landed in my inbox and delivered this gift.
This retails $300 and I snagged it for $23 on eBay. This will literally cost more to have dry cleaned than I paid for it but I'm not complaining. All smiles over here.
All for now. Be well, enjoy your weekend, and make the most of this day. Thank you for reading!
(Gif sourced from Giphy.com)