Evergrande – US Debt Ceiling Uncertainties Disrupt Markets On Monday – $EDSA $PFE $ZIVO Charge Upward

Greetings To You All On Monday Afternoon!

Outside of a few bright spots, the markets on Monday made many investors sober up a bit to the reality that the market may be a bit ‘frothy’ or ‘toppy’ or at least susceptible to the world’s influences. Indeed, the markets sold off to a degree that the S&P 500 hit a low that was 5% off of its recent all-time high, then it turned upward during the last hour of the day. The major indices all still closed significantly lower, but did climb back considerably ending as follows: the S&P 500 closed at 4,357.73 (-1.70%), the Dow 30 closed at 33,970.47 (-1.78%), & the Nasdaq closed at 14,713.90 (-2.19%). All 11 sectors closed in the red led by the decline in the energy sector which fell 3% as oil prices closed down 2.2% to close at $70.35/bbl. The small caps on the Russell 2000 closed at 2,182.20 (-2.44%) & the MicroCaps also fell sharply today as the iShares Micro-Cap ETF (IWC) closed at $141.21, (-2.85%).

Today’s market headlines were dominated by yet another negative China-related story. In this case,  the 2nd largest property developer in China, with +$300 billion in liabilities, is apparently at risk of defaulting as it reportedly has interest payments due that it may not be able to meet on Thursday this week related to +$7B that is due in 2022. The fear is that China will not step in and it could have a contagion-like effect on the worldwide debt and equity markets if allowed to default. The uncertainty surrounding the situation still persists, but many like me feel that it may not be all that dire at least for the world. The other risk-related headline that continued to surface today was surrounding the US debt ceiling and the Washington gridlock and/or showdown that our good ole politicians continue to wrestle over, but hopefully will resolve soon. For those of you who do not know, the US debt ceiling or debt limit is a legislative limit on the amount of national debt that can be incurred by the U.S. Treasury, thus limiting how much money the federal government may borrow. The debt ceiling is an aggregate figure that applies to the gross debt, which includes debt in the hands of the public and in intra-government accounts. About 0.5% of debt is not covered by the ceiling. Because expenditures are authorized by separate legislation, the debt ceiling does not directly limit government deficits. In effect, it can only restrain the Treasury from paying for expenditures and other financial obligations after the limit has been reached, but which have already been approved and appropriated. 

The macroeconomic schedule also delivered the NAHB Housing Market Index report, which confirmed a monthly rise by a point to 76 in September. Tomorrow’s schedule will deliver the Housing Starts and Building Permits report for August & the Current Account Balance for Q2.

The yield curve widened today, as the 10-yr treasury yield closed down 6 basis points at 1.31%, while the 2-yr yield moved down 1 basis point at .22%. The U.S. Dollar Index close at 93.23.

The precious metals markets ended with gold prices closing at $1,764, +$9 and silver closed at $22.30, -$.12.

BIOTECH FALLS

 The SPDR S&P Biotech ETF (XBI) closed at $128.76, -3.10%, the iShares Nasdaq Biotechnology ETF (IBB) closed at $169.91, -2.13% & the NYSE ARCA Biotech Index (^BTK) closed at 5,859.11, -1.61%.

A few bright spots in today’s markets were where the shares of Pfizer (PFE) closed at $44.25, .8% as they confirmed that its COVID-19 vaccine was confirmed, in their Phase 2/3 trial, to be safe & effective for 5-11 years old. Shares of Edesa Biotech, Inc. (EDSA), a clinical-stage biopharmaceutical company focused on inflammatory and immune-related diseases, closed at $11.92 up a whopping 102.72% after  announcing positive results from the Phase 2 part of an ongoing Phase 2/3 clinical study evaluating the company’s monoclonal antibody candidate, designated EB05, as a single-dose treatment for hospitalized COVID-19 patients. Shares of ZIVO Bioscience (ZICO), a “biotech/agtech R&D company”, also charged up to close at $4.66, +66.43% after reaching an intraday high of $7.90 on 120,139,140 shares of trading! No news had been released by ZIVO since there letter to shareholders was published on Aug. 17th. 

TECH DIVES

 A few tech giants closed as follows: Alphabet (GOOG) closed at 2,780.34, -1.73%, Facebook (FB) closed at $355.70, -2.47%, Amazon (AMZN) closed at $3,355.73, -3.08%, Microsoft (MSFT) closed at $294.30, -1.86%, Apple (AAPL, $142.94, -2.14%),  Netflix (NFLX, $575.43, -2.36%) & Tesla (TSLA, $730.17, -3.86%). 

MEMES WATCH

AMC Entertainment (AMC) closed at $40.29, -8.85%.

GameStop (GME) closed at $192.20, -.6.23%. 

Virgin Galactic Holdings (SPCE) closed at $24.75, -6.32%.

Shares of infamous ‘meme brokerage’ firm Robinhood Markets, Inc., (HOOD) closed at $40.70, -3.96%. 

Shares of Seanergy Maritime Holdings Corp. (SHIP) closed at $1.33, -10.74%. 

Economic Reports

• On Monday, the macroeconomic schedule delivered the

Investing & Inspiration

1. “Ever tried. Ever failed. No matter. Try Again. Fail again. Fail better.” -Samuel Beckett
2. “In the post-industrial economy, ideas and great minds often provide far greater return on investment than any other resources or capital investments.” – Marvin Ammori
3. “Work like you don’t need the money. Love like you’ve never been hurt. Dance like nobody’s watching.” – Satchel Paige
4. “One of the rules I’ve learned is that struggling to try and think your way into making an investment is usually the best way to not have a great outcome.” – Stephen A. Schwarzman
5. “The secret of business is to know something that nobody else knows.” – Aristotle Onassis
6. “It takes a long time to grow an old friend.” – John Leonard
7. “Life is a dream for the wise, a game for the fool, a comedy for the rich, a tragedy for the poor.”– Sholom Aleichem
8. “The truth is you don’t know what is going to happen tomorrow. Life is a crazy ride, and nothing is guaranteed.” – Eminem
9. “Man is only great when he acts from passion.” – Benjamin Disraeli
10. “We need to stop thinking about infrastructure as an economic stimulant and start thinking about it as a strategy. Economic stimulants produce Bridges to Nowhere. Strategic investment in infrastructure produces a foundation for long-term growth.” – Roger McNamee
11. “We must let go of the life we have planned, so as to accept the one that is waiting for us.” – Joseph Campbell
12. “Put your heart, mind, and soul into even your smallest acts. This is the secret of success.” – Swami Sivananda
13. “I can’t change the direction of the wind, but I can adjust my sails to always reach my destination.” – Jimmy Dean
14. “Companies have too many experts who block innovation. True innovation really comes from perpendicular thinking.” – Peter Diamandis
15. “By failing to prepare, you are preparing to fail.” – Benjamin Franklin
16. “We cannot solve our problems with the same thinking we used when we created them.” – Albert Einstein
17. “When you’re an investor, you can look at the quantitative and qualitative elements of an investment, but there’s a third aspect: What you feel in your gut.” – Kevin O’Leary
18. “Set your course by the stars, not by the lights of every passing ship.” – Omar N. Bradley
19. “Do not take life too seriously. You will never get out of it alive.” – Elbert Hubbard
20. “Education is not only a ladder of opportunity, but it is also an investment in our future.” – Ed Markey 
21. “Every good painter paints what he is.” – Jackson Pollock
22. “If you believe in yourself and have dedication and pride – and never quit, you’ll be a winner. The price of victory is high but so are the rewards.” – Bear Bryant
23. “Your mindset matters. It affects everything – from the business and investment decisions you make, to the way you raise your children, to your stress levels and overall well-being.” – Peter Diamandis
24. “You cannot have a positive life and a negative mind.” – Joyce Meyer 
25. “Like wildebeest and zebra migration across the Serengeti, investment managers and consultants, too, have a habit of running together and, every now and then, changing direction.” – Sanjaya Baru
26. “If people are anything but enthusiastic about the information or ideas that they’re sharing, they’re either not that invested in what they’re doing – or they’re not communicating that investment effectively.” – Ana Kasparian 
27. “Life consists not in holding good cards but in playing those you hold well.” – Josh Billings 
28. “Friend, there’s no greater investment in life than in being a people builder. Relationships are more important than our accomplishments.” – Joel Osteen
29. “It’s only natural that the heavy users help contribute to the investment to keep the Web healthy. That is the most important concept of net neutrality.” – Lowell McAdam
30. “The more sand that has escaped from the hourglass of our life, the clearer we should see through it.” – Jean Paul 

31. “Eliminate emotion from your investment program.” -John C. Bogle

32. “Modern medical advances have helped millions of people live longer, healthier lives. We owe these improvements to decades of investment in medical research.” – Ike Skelton
33. “In every investment, before I get involved or invest, I always see what the mindset of the founder, the CEO, is.” – Zaza Pachulia
34. “An investment said to have an 80% chance of success sounds far more attractive than one with a 20% chance of failure. The mind can’t easily recognize that they are the same.” – Daniel Kahneman
35. “The return on investment in global health is tremendous, and the biggest bang for the buck comes from vaccines. Vaccines are among the most successful and cost-effective health investments in history.” – Seth Berkley
36. “Few things in the world are more powerful than a positive push. A smile. A world of optimism and hope. A ‘you can do it’ when things are tough.” – Richard M. DeVos
37. “To be yourself in a world that is constantly trying to make you something else is the greatest accomplishment.” – Ralph Waldo Emerson
38. “We all have dreams. But in order to make dreams come into reality, it takes an awful lot of determination, dedication, self-discipline, and effort.”  – Jesse Owens
39. “The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.” – William Arthur Ward- American Writer, Born 1921
40. “Once you replace negative thoughts with positive ones, you’ll start having positive results.” – Willie Nelson
41. “The secret of your future is hidden in your daily routine.” – Mike Murdock
42.  “If somebody puts you down or criticizes you, just keep on believing in yourself and turn it into something positive.” – Leah LaBelle
43. “Opportunity is missed by most people because it is dressed in overalls and looks like work”. -Thomas A. Edison
44. “Education is not only a ladder of opportunity, but it is also an investment in our future.” – Ed Markey

45. “Human behavior flows from three main sources: desire, emotion, and knowledge.” – Plato

46. “We are what our thoughts have made us; so take care about what you think. Words are secondary. Thoughts live; they travel far.” – Swami Vivekananda
47. “Success is not final, failure is not fatal: it is the courage to continue that counts.” – Winston Churchill

48. “If you don’t know where you are going, any road will get you there.” – Lewis Carroll

49. “Don’t worry about being a star, worry about doing good work, and all that will come to you.” – Ice Cube

50. “It is not in the stars to hold our destiny but in ourselves.” – William Shakespeare

51. “Prediction is very difficult, especially if it’s about the future.” – Niels Bohr (Danish Physicist)

52. “It is indeed true that the stock market can forecast the business cycle.” -Paul Samuelson

53. “The wisest rule in investment is: when others are selling, buy. When others are buying, sell. Usually, of course, we do the opposite. When everyone else is buying, we assume they know something we don’t, so we buy. Then people start selling, panic sets in, and we sell too.” – Jonathan Sacks

54. “What lies behind you and what lies in front of you, pales in comparison to what lies inside of you.” – Ralph Waldo Emerson
55. “Each new generation born is in effect an invasion of civilization by little barbarians, who must be civilized before it is too late.” – Thomas Sowell
56. “Life is 10% what happens to you and 90% how you react to it.” – Charles R. Swindoll
57. “The truth is you don’t know what is going to happen tomorrow. Life is a crazy ride, and nothing is guaranteed.” – Eminem

58. “View health as an investment, not an expense.” – John Quelch

59. “Opportunity does not knock, it presents itself when you beat down the door.” – Kyle Chandler

60. “If you don’t know where you are going, any road will get you there.” – Lewis Carroll
61. “Once you replace negative thoughts with positive ones, you’ll start having positive results.” – Willie Nelson
62. “That which does not kill us makes us stronger.” – Friedrich Nietzsche
63. “Nothing in life is to be feared, it is only to be understood. Now is the time to understand more, so that we may fear less.” – Marie Curie
64. “A problem is a chance for you to do your best.”–  Duke Ellington
65. “The best way to predict the future is to create it.” -Peter Drucker
66. “I’m involved in the stock market, which is fun and, sometimes, very painful.” – Regis Philbin
67. “Who owns the future? This is the question at the heart of every stock market.” – John Landgraf
68. “One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute.” – William Feather
69. “While I’m sure some millennials are concerned with the ethical issues involved in mining for diamonds, the main reason they steer clear of the gems is because, well, they’re a dumb investment.” – Ana Kasparian
70. “The wisest rule in investment is: when others are selling, buy. When others are buying, sell. Usually, of course, we do the opposite. When everyone else is buying, we assume they know something we don’t, so we buy. Then people start selling, panic sets in, and we sell too.” – Jonathan Sack
71. “We must shift our thinking away from short-term gain toward long-term investment and sustainability, and always have the next generations in mind with every decision we make.” –  Deb Haaland
72. “The only way to have a friend is to be one.” –  Ralph Waldo Emerson
73. “If you believe in yourself and have dedication and pride – and never quit, you’ll be a winner. The price of victory is high but so are the rewards.” – Bear Bryant

74. “Investing in women’s lives is an investment in sustainable development, in human rights, in future generations – and consequently in our own long-term national interests.” -Liya Kebede

75. “Success is not final, failure is not fatal: it is the courage to continue that counts.”– Winston Churchill

76. “Our greatest glory is not in never falling, but in rising every time we fall.” – Confucius

77. “Give me a lever long enough and a fulcrum on which to place it, and I shall move the world.” – Archimedes
78. “Who controls the past controls the future. Who controls the present controls the past.” – George Orwell
79. “If you get up in the morning and think the future is going to be better, it is a bright day. Otherwise, it’s not.” – Elon Musk
80. “The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.” – William Arthur Ward
81. “Start where you are. Use what you have. Do what you can.” – Arthur Ashe
82. “Netflix, Amazon, iTunes – whatever platforms emerge – we are looking at as having the same potential that home video had for the movie business. Which means there are entirely new opportunities to monetize our capital investment in content and do so in ways that work for distributors, for consumers and for creators.” – Bob Iger

83. “When you have no one to answer to, vendetta as investment strategy is as legitimate as anything.” – Carl Icahn

84. “No other investment yields as great a return as the investment in education. An educated workforce is the foundation of every community and the future of every economy.” – Brad Henry
85. “In my view, the biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital. Not only is the mere drop in stock prices not risk, but it is an opportunity. Where else do you look for cheap stocks?” – Li Lu

86. “Modern medical advances have helped millions of people live longer, healthier lives.

87. We owe these improvements to decades of investment in medical research.”– Ike Skelton

88. “Stock market goes up or down, and you can’t adjust your portfolio based on the whims of the market, so you have to have a strategy in a position and stay true to that strategy and not pay attention to noise that could surround any particular investment.” – John Paulson

89. “Your mindset matters. It affects everything – from the business and investment decisions you make, to the way you raise your children, to your stress levels and overall well-being.” – Peter Diamandis
90. “Inflation destroys savings, impedes planning, and discourages investment. That means less productivity and a lower standard of living.” – Kevin Brady
91. “Bitcoin, in the short or even long term, may turn out be a good investment in the same way that anything that is rare can be considered valuable. Like baseball cards. Or a Picasso.” – Andrew Ross Sorkin
92. “I think you have to learn that there’s a company behind every stock and there’s only one real reason why stocks go up. Companies go from doing poorly to doing well or small companies grow to large companies.” – Peter Lynch
93. “Historically, there has been a bull market in the commodities every 20 or 30 years.” – Jim Rogers
94. “The markets generally are unpredictable, so that one has to have different scenarios. The idea that you can actually predict what’s going to happen contradicts my way of looking at the market.” – George Soros
95. “Stop trying to predict the direction of the stock market, the economy or the elections.” – Warren Buffett
96. “An important key to investing is to remember that stocks are not lottery tickets.” – Peter Lynch
97. “Learn everyday, but especially from the experiences of others. It’s cheaper!” – John Bogle
98. “When purchasing depressed stock in troubled companies, seek out the ones with the superior financial positions and avoid the ones with loads of bank debt.” – Peter Lynch
99. “No stock price is too low for bears or too high for bulls.” – John F. Heerdink, Jr.

100. “Investment is most successful when it is most businesslike.” – Ben Graham

101. “Value stocks are about as exciting as watching grass grow, but have you ever noticed just how much your grass grows in a week?” – Christopher Browne

102. “Even the intelligent investor is likely to need considerable willpower to keep from following the crowd.” – Benjamin Graham
103. “Individual who cannot master their emotions are ill-suited to profit from the investment process.” – Benjamin Graham
104. “I made my first investment at age eleven. I was wasting my life until then.” – Warren Buffet
105. “I don’t look to jump over seven-foot bars; I look around for one-foot bars that I can step over.” — Warren Buffett
106. “There are only three measurements that tell you nearly everything you need to know about your organization’s overall performance: employee engagement, customer satisfaction, and cash flow. It goes without saying that no company, small or large, can win over the long run without energized employees who believe in the mission and understand how to achieve it.” – Jack Welch, former CEO of GE
107. “Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble” ― Warren Buffett
108. “If you buy things you do not need, soon you will have to sell things you need.” – Warren Buffet
109. “How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” — Robert G. Allen
110. “It’s far better to buy a wonderful company at a fair price, than a fair company at a wonderful price.” – Warren Buffett
111. “A market downturn doesn’t bother us. It is an opportunity to increase our ownership of great companies with great management at good prices.” — Warren Buffett
112. “Every once in a while, the market does something so stupid it takes your breath away.” — Jim Cramer
113. “The person who starts simply with the idea of getting rich won’t succeed; you must have a larger ambition.” — John D. Rockefeller
114. “Know what you own, and know why you own it.” – Peter Lynch
115. “Although it’s easy to forget sometimes, a share is not a lottery ticket… it’s part ownership of a business.” – Peter Lynch
116. “Wise spending is part of wise investing. And it’s never too late to start.” – Rhonda Katz

117. “Invest for the long haul. Don’t get too greedy and don’t get too scared.” – Shelby M.C. Davis

118. “Fear incites human action far more urgently than does the impressive weight of historical evidence.”
     -Jeremy Siegel
119. “With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future.” — Carlos Slim Helu
120. “If we like a business, we’re going to buy as much of it as we can and keep it as long as we can. And when we change our mind, we don’t take half measures.” – Warren Buffett

121. “The most contrarian thing of all is not to oppose the crowd but to think for yourself.” — Peter Thiel

122. “Never depend on a single income, make an investment to create a second source.” Warren Buffet

123. “Games are won by players who focus on the playing field –- not by those whose eyes are glued to the scoreboard.”
     ― Warren Buffett
124. “The key to making money in stocks is not to get scared out of them.” – Peter Lynch
125. “Courage taught me no matter how bad a crisis gets … any sound investment will eventually pay off.” — Carlos Slim Helu
126. “Investing puts money to work. The only reason to save money is to invest it.” – Grant Cardone
127. “As time goes on, I get more and more convinced that the right method of investment is to put fairly large sums into enterprises which one thinks one knows something about and in the management of which one thoroughly believes.” — John Maynard Keynes
128. “Given a 10% chance of a 100 times payoff, you should take that bet every time.” — Jeff Bezos
129. “Money is always eager and ready to work for anyone who is ready to employ it.” ― Idowu Koyenikan
130. “The secret to investing is to figure out the value of something – and then pay a lot less.” – Joel Greenblatt
131. “We don’t have an analytical advantage, we just look in the right place.” – Seth Klarman
132. “Men, it has been well said, think in herds. It will be seen that they go mad in herds, while they only recover their senses slowly, and one by one.” – Charles Mackay
133. “It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.” – George Soros
134. “No Price is too low for a bear or too high for a bull.” — Anonymous
135. “Investment is an asset or item that is purchased with the hope that it will generate income or appreciate in the future.” Anonymous
136. “Behind every stock is a company. Find out what it’s doing.” — Peter Lynch
137. “Wise spending is part of wise investing. And it’s never too late to start.” –Rhonda Katz
138. “It amazes me how people are often more willing to act based on little or no data than to use data that is a challenge to assemble.” ― Robert Shiller
139. “A bull market is like sex. It feels best just before it ends.” — Barton Biggs
140. “The investor’s chief problem — even his worst enemy — is likely to be himself.” — Benjamin Graham
141. “No profession requires more hard work, intelligence, patience, and mental discipline than successful speculation.” – Robert Rhea
142. “Money is like a sixth sense – and you can’t make use of the other five without it.” – William Somerset Maugham
143. “Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn’t, pays it.” — Albert Einstein
144. “Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results” — Warren Buffett
145. “The stock market is a device for transferring money from the impatient to the patient.” – Warren Buffett
146. “Thousands of experts study overbought indicators, head-and-shoulder patterns, put-call ratios, the Fed’s policy on money supply…and they can’t predict markets with any useful consistency, any more than the gizzard squeezers could tell the Roman emperors when the Huns would attack.” – Peter Lynch
147. “Investing puts money to work. The only reason to save money is to invest it.” – Grant Cardone
148. “You cannot save time for your future use however you can invest time for your future.” – John F. Heerdink, Jr. 
149. “Know what you own, and know why you own it.” – Peter Lynch
150. “Liquidity is only there when you don’t need it.” -Old Proverb
151. “If you want to be a millionaire, start with a billion dollars and launch a new airline.” – Richard Branson
152. “Fear incites human action far more urgently than does the impressive weight of historical evidence.” – Jeremy Siegel
153. “In investing, what is comfortable is rarely profitable.” – Robert Arnott
154. “Spend each day trying to be a little wiser than you were when you woke up.” – Charlie Munger
155. “The entrance strategy is actually more important than the exit strategy.” – Edward Lampert
156. “The rivers don’t drink their own water; Trees don’t eat their own fruits. The sun does not shine for itself, And flowers do not spread their fragrance For themselves. Living for others is a rule of nature” – Pope Francis
157. “It is impossible to produce superior performance unless you do something different from the majority.” – John Templeton
158. “An investment in knowledge pays the best interest.” – Benjamin Franklin.
159. “I believe the returns on investment in the poor are just as exciting as successes achieved in the business arena, and they are even more meaningful!” -Bill Gates
160. “Every portfolio benefits from bonds; they provide a cushion when the stock market hits a rough patch. But avoiding stocks completely could mean your investment won’t grow any faster than the rate of inflation.” – Suze Orman
161. “The tax on capital gains directly affects investment decisions, the mobility, and flow of risk capital… the ease or difficulty experienced by new ventures in obtaining capital, and thereby the strength and potential for growth in the economy.” – John F. Kennedy
162. “If all the economists were laid end to end, they’d never reach a conclusion. -George Bernard Shaw
163. “There are old traders and there are bold traders, but there are very few old, bold traders.”-Ed Seykota
164. “Let this scenario play out on its own, in its own fashion. As you watch it unfold, you will soon be grateful that you choose the peaceful path. Remember — those who live by the sword, die by the sword.”
165. “As long as you enjoy investing, you’ll be willing to do the homework and stay in the game.” -Jim Cramer
166. “I rarely think the market is right. I believe non-dividend stocks aren’t much more than baseball cards. They are worth what you can convince someone to pay for it.” -Mark Cuban
167. “Michael Marcus taught me one other thing that is absolutely critical: You have to be willing to make mistakes regularly; there is nothing wrong with it. Michael taught me about making your best judgment, being wrong, making your next best judgment, being wrong, making your third best judgment, and then doubling your money.” -Bruce Kovner
168. “The policy of being too cautious is the greatest risk of all.” -Jawaharlal Nehru
169. “The only true test of whether a stock is “cheap” or “high” is not its current price in relation to some former price, no matter how accustomed we may have become to that former price, but whether the company’s fundamentals are significantly more or less favorable than the current financial-community appraisal of that stock.” -Philip Fisher
170. “I learned to avoid trying to catch up or double up to recoup losses. I also learned that a certain amount of loss will affect your judgment, so you have to put some time between that loss and the next trade.” -Richard Dennis
171. “The four most dangerous words in investing are: ‘this time it’s different.” -Sir John Templeton
172. “Money doesn’t make you happy. I now have $50 million but I was just as happy when I had $48 million.” -Arnold Schwarzenegger