I’ve been asked about Bitcoin a lot lately. I’ haven’t written anything about it because I find myself in an uncomfortable place in agreeing with the mainstream media: It’s a bubble. Bitcoin started out as what I’d call “millennial gold” – the young (digital) generation looked at it as their gold substitute.
Absent a new category of products, Apple is turning into a fully ripe stock.
I have previously explained why my firm is investing in pharmaceuticals stocks, despite the sector being a favorite punching bag of politicians. I noted that we have recently added to our existing positions in Amgen, Allergan, and Gilead Sciences, and I promised that I would unveil two new positions this week.
The bulk of U.S. stock gains in this long-running bull market are due to one variable: the expansion of the price-to-earnings ratio.
It is still not too late to structure your portfolio to weather the global storm. The key is to own quality.
The introduction of the shiny new i-Object, will definitely be exciting; and as an Apple junkie (I own so many Apple products it’s almost embarrassing) I’m excited for Apple. But I’m less excited about Apple stock than I’ve been in years, and the current valuation demands more clairvoyance than I possess.
Stock market performance has not been driven by the improving health of the global economy. Just as negative interest rates are not a positive for the continued health of the economy, current stock market performance does not augur rosy future returns for stocks. In fact, the opposite is true.
While the company is run by very talented people who will do a great job getting us excited about the categories of products they are already in, the company’s genius died with Steve Jobs.
Masayoshi Son doesn’t do anything small nor does he do things in a simple way.
Tesco is a great example of how one should be very careful judging a company’s fundamental performance by looking solely at the performance of its stock.