Large Caps Tread Water While The Russell Sinks on ‘Thirsty” Thursday – $AAPL $CSCO $DNUT $MSFT $NVDA Rise

Happy ‘Thirsty’ Thursday!

I hope that all went well for you today, but for many of us we were left quite parched, while feverishly seeking better returns from the markets, possibly a libation or two, and maybe even a weekend break from it all. Yesterday’s ‘inline tapering’ comments from the Fed, a seemingly never-ending number of Delta variant related stories, & the malaise of the summer doldrums, continued to weigh on investors minds and investors generally continued to look for answers in general. Having stated this, the large cap markets pretty much treaded water today & even produced a couple of positive results including two tech giants as Apple (AAPL, $146.70, $.23%) & Microsoft (MSFT, $296.77, +2.08%) moving higher without any relative news visibly aboard their ships. Also, two other techs moved up strongly today after beating the street’s estimates including Cisco (CSCO), which closed at $57.27, +3.8% & NVIDIA (NVDA), which closed at $197.98, +4%. The large cap indices closed as follows: the S&P 500 closed at 4,405.80 (+.13%), the Dow 30 closed at 34,894.12 (-.19%) & the Nasdaq closed at 14,541.79 (+.11%).

The pain in the markets today, was particularly felt at the lower end of the investing curve again, as the smalls on the Russell 2000 closed lower at 2,132.42 (-1.22%). The MicroCaps also dropped significantly as trading volumes drifted lower represented by the iShares Micro-Cap ETF (IWC) that closed at $136.87, (-1.87%). The nano caps also felt the downward pressure seeing indiscriminate selling continuing today. 

The macroeconomic schedule delivered a couple of additional reports including the initial claims for the week ending August 14 which confirmed a drop by 29k to 348k, while continuing claims for the week ending August 7 fell by 79k to 2.82M. The Conference Board’s Leading Economic Index (LEI) report showed a rise by .9% in July. We will not receive any significant macro reports on Friday.

The yield curve moved lower today, as the 10-yr treasury yield moved down 3 basis points to 1.24% & the 2-yr yield stayed pat for the second day in a row to close at .21%. The U.S. Dollar Index ticked up .5% to close at 93.57. 

Gold prices moved down $8 to close at $1,781 and silver closed at $23.25, -$.28.

BIOTECH 

The biotech sector turned noticeably south again.  The SPDR S&P Biotech ETF (XBI) closed at $118.69, -2.4%, the iShares Nasdaq Biotechnology ETF (IBB) closed at $164.62, -2.21% & the NYSE ARCA Biotech Index (^BTK) closed at 5,663.36, -1.75%.

Shares of Fate Therapeutics (FATE), a clinical-stage biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for patients with cancer, closed at $85.63/share, -5.9%. The 52-wk high is $121.16. After the close today, FATE highlighted positive interim clinical data from the Company’s FT516 and FT596 programs for patients with relapsed / refractory B-cell lymphoma. FT516 is the Company’s universal, off-the-shelf natural killer (NK) cell product candidate derived from a clonal master induced pluripotent stem cell (iPSC) line engineered with a novel high-affinity, non-cleavable CD16 (hnCD16) Fc receptor, which is designed to maximize antibody-dependent cellular cytotoxicity (ADCC), a potent anti-tumor mechanism by which NK cells recognize, bind and kill antibody-coated cancer cells. The Company’s FT596 program incorporates both the hnCD16 Fc receptor and a chimeric antigen receptor (CAR) targeting CD19, which is designed to enable multi-antigen targeting of tumor cells, as well as an IL-15 receptor fusion (IL-15RF) to enhance NK cell activity and survival.

TECH

Amazon.com (AMZN) closed at 3,187.75, -.42% & Tesla (TSLA) recovered to close at 673.47, -2.25%.

MEMES MOVES

AMC Entertainment (AMC) closed at $33.82, -7.47% & GameStop (GME) also closed at $152.90, -2.64%. 

Virgin Galactic Holdings (SPCE) closed at $24.25, down another 3.96%. Again, could we possibly be getting somewhere close to support levels? On Aug. 5th, SPCE reported its Q2 and Michael Colglazier, Chief Executive Officer of Virgin Galactic stated,  “In the second quarter, we made meaningful progress towards commencing commercial service in 2022. We successfully completed two spaceflights from New Mexico — the latest carrying a full crew of mission specialists in the cabin and garnering an extraordinary global media and consumer response. In addition, we received FAA approval to expand our existing launch license, marking the first time the FAA has licensed a Spaceline to fly customers to space. Leveraging the surge in consumer interest following the Unity 22 flight, we are excited to announce the reopening of sales effective today, beginning with our Spacefarer community. As we endeavor to bring the wonder of space to a broad global population, we are delighted to open the door to an entirely new industry and consumer experience.”

Shares if infamous ‘meme brokerage’ firm Robinhood Markets, Inc., (HOOD) closed at $44.69, -10/26%. Yesterday’s release of their financial results for the second quarter ended June 30, 2021 confirmed that their Total net revenues increased 131% to $565 million in the second quarter of 2021, compared with $244 million in the second quarter of 2020. Their transaction-based revenues increased 141% to $451 million in the second quarter of 2021, compared with $187 million in the second quarter of 2020. Loss before income taxes was $464 million in the second quarter of 2021, compared with income before taxes of $58 million in the second quarter of 2020. Costs associated with the change in fair value of convertible notes and warrant liability totaled $528 million in the second quarter of 2021. 

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP, $1.06, -6.19%). SHIP, the only pure-play Capesize ship-owner publicly listed in the US, announced last week that its Board of Directors has authorized a share repurchase plan. Under the Plan, the Company may repurchase up to $17 million of its outstanding common shares, representing approximately 10% of the Company’s market capitalization as of August 10, 2021. 

Shares of fan favorite Krispy Kreme (DNUT) closes at $14.91, +14.08%. Two days ago DNUT reported reported financial results for the second quarter ended July 4, 2021 and issued full-year and long-term guidance. The Company reported 43% net revenue growth and organic growth of 23%, following strong performance across all business segments. On a two-year stack basis, organic revenues grew 16% since 2019.

Economic Reports

• On Monday, the macroeconomic schedule delivered the Empire State Manufacturing report for August fell to 18.3.
• On Tuesday, as the total retail sales report for July confirmed a drop by  1.1% m/m & the NAHB Housing Market Index for August fell to 75. The total industrial production report showed a rise by .9% in July. The capacity utilization rate report showed a rise to 76.1%.  The Business Inventories report confirmed a rise by .8% month/month in June.
• On Wednesday, the total housing starts report showed a sizable 7% m/m drop to a seasonally adjusted annual rate of 1.534M units. Building permits however rose 2.6% m/m to a seasonally adjusted annual rate of 1.635M. The weekly MBA Mortgage Applications Index also fell 3.9%. The weekly crude oil inventories report confirmed a drop by 3.23M barrels. Oil prices fell again by 1.7% to close at $65.44/bbl as growth concerns continue to increase as the Delta variant clones spreading. 
• On Thursday, the initial claims report for the week ending August 14 confirmed a drop by 29k to 348k, while continuing claims for the week ending August 7 fell by 79k to 2.82M. The Conference Board’s Leading Economic Index (LEI) report showed a rise by .9% in July.

Investing & Inspiration

1. “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
2. “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
3. “You cannot have a positive life and a negative mind.” – Joyce Meyer 
4. “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
5. “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 
6. “Life consists not in holding good cards but in playing those you hold well.” – Josh Billings 
7. “Friend, there’s no greater investment in life than in being a people builder. Relationships are more important than our accomplishments.” – Joel Osteen
8. “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
9. “The more sand that has escaped from the hourglass of our life, the clearer we should see through it.” – Jean Paul 

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

11. “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
12. “In every investment, before I get involved or invest, I always see what the mindset of the founder, the CEO, is.” – Zaza Pachulia
13. “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
14. “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
15. “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
16. “To be yourself in a world that is constantly trying to make you something else is the greatest accomplishment.” – Ralph Waldo Emerson
17. “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
18. “The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.” – William Arthur Ward- American Writer, Born 1921
19. “Once you replace negative thoughts with positive ones, you’ll start having positive results.” – Willie Nelson
20. “The secret of your future is hidden in your daily routine.” – Mike Murdock
21.  “If somebody puts you down or criticizes you, just keep on believing in yourself and turn it into something positive.” – Leah LaBelle
22. “Opportunity is missed by most people because it is dressed in overalls and looks like work”. -Thomas A. Edison
23. “Education is not only a ladder of opportunity, but it is also an investment in our future.” – Ed Markey

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

25. “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
26. “Success is not final, failure is not fatal: it is the courage to continue that counts.” – Winston Churchill

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

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

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

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

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

32. “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

33. “What lies behind you and what lies in front of you, pales in comparison to what lies inside of you.” – Ralph Waldo Emerson
34. “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
35. “Life is 10% what happens to you and 90% how you react to it.” – Charles R. Swindoll
36. “The truth is you don’t know what is going to happen tomorrow. Life is a crazy ride, and nothing is guaranteed.” – Eminem

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

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

39. “If you don’t know where you are going, any road will get you there.” – Lewis Carroll
40. “Once you replace negative thoughts with positive ones, you’ll start having positive results.” – Willie Nelson
41. “That which does not kill us makes us stronger.” – Friedrich Nietzsche
42. “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
43. “A problem is a chance for you to do your best.”–  Duke Ellington
44. “The best way to predict the future is to create it.” -Peter Drucker
45. “I’m involved in the stock market, which is fun and, sometimes, very painful.” – Regis Philbin
46. “Who owns the future? This is the question at the heart of every stock market.” – John Landgraf
47. “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
48. “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
49. “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
50. “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
51. “The only way to have a friend is to be one.” –  Ralph Waldo Emerson
52. “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

53. “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

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

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

56. “Give me a lever long enough and a fulcrum on which to place it, and I shall move the world.” – Archimedes
57. “Who controls the past controls the future. Who controls the present controls the past.” – George Orwell
58. “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
59. “The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.” – William Arthur Ward
60. “Start where you are. Use what you have. Do what you can.” – Arthur Ashe
61. “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

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

63. “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
64. “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

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

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

67. “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

68. “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
69. “Inflation destroys savings, impedes planning, and discourages investment. That means less productivity and a lower standard of living.” – Kevin Brady
70. “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
71. “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
72. “Historically, there has been a bull market in the commodities every 20 or 30 years.” – Jim Rogers
73. “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
74. “Stop trying to predict the direction of the stock market, the economy or the elections.” – Warren Buffett
75. “An important key to investing is to remember that stocks are not lottery tickets.” – Peter Lynch
76. “Learn everyday, but especially from the experiences of others. It’s cheaper!” – John Bogle
77. “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
78. “No stock price is too low for bears or too high for bulls.” – John F. Heerdink, Jr.

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

80. “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

81. “Even the intelligent investor is likely to need considerable willpower to keep from following the crowd.” – Benjamin Graham
82. “Individual who cannot master their emotions are ill-suited to profit from the investment process.” – Benjamin Graham
83. “I made my first investment at age eleven. I was wasting my life until then.” – Warren Buffet
84. “I don’t look to jump over seven-foot bars; I look around for one-foot bars that I can step over.” — Warren Buffett
85. “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
86. “Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble” ― Warren Buffett
87. “If you buy things you do not need, soon you will have to sell things you need.” – Warren Buffet
88. “How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” — Robert G. Allen
89. “It’s far better to buy a wonderful company at a fair price, than a fair company at a wonderful price.” – Warren Buffett
90. “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
91. “Every once in a while, the market does something so stupid it takes your breath away.” — Jim Cramer
92. “The person who starts simply with the idea of getting rich won’t succeed; you must have a larger ambition.” — John D. Rockefeller
93. “Know what you own, and know why you own it.” – Peter Lynch
94. “Although it’s easy to forget sometimes, a share is not a lottery ticket… it’s part ownership of a business.” – Peter Lynch
95. “Wise spending is part of wise investing. And it’s never too late to start.” – Rhonda Katz

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

97. “Fear incites human action far more urgently than does the impressive weight of historical evidence.”
    -Jeremy Siegel
98. “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
99. “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

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

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

102. “Games are won by players who focus on the playing field –- not by those whose eyes are glued to the scoreboard.”
     ― Warren Buffett
103. “The key to making money in stocks is not to get scared out of them.” – Peter Lynch
104. “Courage taught me no matter how bad a crisis gets … any sound investment will eventually pay off.” — Carlos Slim Helu
105. “Investing puts money to work. The only reason to save money is to invest it.” – Grant Cardone
106. “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
107. “Given a 10% chance of a 100 times payoff, you should take that bet every time.” — Jeff Bezos
108. “Money is always eager and ready to work for anyone who is ready to employ it.” ― Idowu Koyenikan
109. “The secret to investing is to figure out the value of something – and then pay a lot less.” – Joel Greenblatt
110. “We don’t have an analytical advantage, we just look in the right place.” – Seth Klarman
111. “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
112. “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
113. “No Price is too low for a bear or too high for a bull.” — Anonymous
114. “Investment is an asset or item that is purchased with the hope that it will generate income or appreciate in the future.” Anonymous
115. “Behind every stock is a company. Find out what it’s doing.” — Peter Lynch
116. “Wise spending is part of wise investing. And it’s never too late to start.” –Rhonda Katz
117. “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
118. “A bull market is like sex. It feels best just before it ends.” — Barton Biggs
119. “The investor’s chief problem — even his worst enemy — is likely to be himself.” — Benjamin Graham
120. “No profession requires more hard work, intelligence, patience, and mental discipline than successful speculation.” – Robert Rhea
121. “Money is like a sixth sense – and you can’t make use of the other five without it.” – William Somerset Maugham
122. “Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn’t, pays it.” — Albert Einstein
123. “Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results” — Warren Buffett
124. “The stock market is a device for transferring money from the impatient to the patient.” – Warren Buffett
125. “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
126. “Investing puts money to work. The only reason to save money is to invest it.” – Grant Cardone
127. “You cannot save time for your future use however you can invest time for your future.” – John F. Heerdink, Jr. 
128. “Know what you own, and know why you own it.” – Peter Lynch
129. “Liquidity is only there when you don’t need it.” -Old Proverb
130. “If you want to be a millionaire, start with a billion dollars and launch a new airline.” – Richard Branson
131. “Fear incites human action far more urgently than does the impressive weight of historical evidence.” – Jeremy Siegel
132. “In investing, what is comfortable is rarely profitable.” – Robert Arnott
133. “Spend each day trying to be a little wiser than you were when you woke up.” – Charlie Munger
134. “The entrance strategy is actually more important than the exit strategy.” – Edward Lampert
135. “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
136. “It is impossible to produce superior performance unless you do something different from the majority.” – John Templeton
137. “An investment in knowledge pays the best interest.” – Benjamin Franklin.
138. “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
139. “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
140. “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
141. “If all the economists were laid end to end, they’d never reach a conclusion. -George Bernard Shaw
142. “There are old traders and there are bold traders, but there are very few old, bold traders.”-Ed Seykota
143. “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.”
144. “As long as you enjoy investing, you’ll be willing to do the homework and stay in the game.” -Jim Cramer
145. “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
146. “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
147. “The policy of being too cautious is the greatest risk of all.” -Jawaharlal Nehru
148. “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
149. “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
150. “The four most dangerous words in investing are: ‘this time it’s different.” -Sir John Templeton
151. “Money doesn’t make you happy. I now have $50 million but I was just as happy when I had $48 million.” -Arnold Schwarzenegger