Friday’s Bounce Secures Weekly Win For Nasdaq Despite Growth Concerns – $AAPL $AMC $ATOS $BRQS $CLLS $DIS $INM $NVDA $TSLA Rise!

Happy Saturday!

I hope that you had a solid holiday-shortened week and that you managed to make a fortune in the stock market and otherwise. We stayed relatively dry here in San Francisco and pressed forward on all fronts. Go Niners!

As for the broad markets this week, investors had to digest their fair share of macroeconomic reports that led the markets lower until a significant rebound during Friday’s session brought, at least, the Nasdaq into positive territory as tech stocks waged a bit of comeback. The yield curve also pulled back again this week, with the 2-yr note yield falling 2 basis points to close at 4.20% & the 10-yr note yield moving down by 3 basis points to close at at 3.48%. The U.S. Dollar Index ticked .2% lower to close at 101.99.  Throughout the 4-day week the schedule provided the Empire State Manufacturing Index report that confirmed a drop to -32.9 in January on Tuesday. On Wednesday, the December PPI report came in lower than expected at -.5%, while the December Core PPI came in at .1%. December Retail Sales also came in lower at -1.1%. The December Industrial Production report confirmed a drop at -.7%, while the December Capacity Utilization report confirmed a lower level of 78.8%. The November Business Inventories report came in at .4%. Weekly MBA Mortgage Applications Index that came in at 27.9%, while the January NAHB Housing Market report came in at 35. On Thursday, the Initial jobless claims report for the week ending January 14 that confirmed a 15k drop to 190k, while continuing jobless claims for the week ending January 7 clocked in 17k higher to 1.647M. The Total housing starts report showed a 1.4% M/M drop in December to a seasonally adjusted annual rate of 1.382M units. The total building permits report confirmed a 1.6% M/M decline In December to a seasonally-adjusted annual rate of 1.33M and confirming a 3rd consecutive monthly decline. The Philadelphia Fed Index came in lower at -8.9 in January. The Weekly EIA Natural Gas Inventories confirmed a 82 bcf draw. The Weekly Crude Oil Inventories report came in with a 8.41M barrel build. On Friday, the December Existing Home Sales report came in lower at 4.02M nowdown 34% Y/Y in December to their lowest mark since November 2010.  

Somber notes were also provided by our ever present Fed Presidents that continued to chirp ahead of February’s next interest decision overall giving the understanding that they prefer to stay the aggressive course to raise interest rates in the 25-50 basis point range & that they see us moving above 5% to stave of inflationary pressures. JP Morgan’s CEO Jamie Dimon also added his 2 cents of gloom this week stating, “I think there’s a lot of underlying inflation, which won’t go away so quick.” He also believes that interest rates will go above 5%. 

With conflicting beliefs, overall investors seem to be thinking we are heading swiftly towards a recession as they are be served daily layoff announcements from headliners like Goldman Sachs (GS), Google (GOOG) and the tech sector, while trying to make heads or tails of weaker the growth reports that are being issued during the current earnings session. 11% of the S&P 500 have reported now and provided an overall mixed picture that may lead companies to proceed with further cuts to their earnings estimates and workforces. 69% of the reporting companies so far have exceeded expectations, but that is down from the norm. Now for the first time since 2020 and according to data from FactSet Research, the S&P 500 is expected to report a Y/Y decline in earnings of 3.9% for Q4. Investors also had to come to terms with Treasury Secretary Yellen’s letter to congress that confirmed the US debt ceiling had been reached leading the Treasury Department to commence ‘employing extraordinary measures’.

At the end of the week, the S&P 500 closed at 3,972.61 (-.7%) for the week and is now up 3.5% YTD. 3 of the 11 sectors closed in the green including the communication services sector’s 3% jump, & +.7% moves by both the energy sector and the information technology sector. The laggards were led by the industrials sector 3.4% decline & the 2.9% drop by both the utilities sector and the consumer staples sector. The 6.82% weighting of the shares of Apple (AAPL) helped the markets this week as it closed at $137.87, +3.34% over the last 5-days.  The shares of EV giant Tesla (TSLA) also provided significant strength this week as it closed at $133.42, +7.98% over the last 5-days, Note that Cathie Wood’s Ark funds have reportedly grabbed 806,663 Tesla shares already in January.  

The Dow 30 closed significantly lower at 33,375.40 (-2.7%) and is now up +.7% YTD. However, the Nasdaq clocked in an impressive win ending the week at 11,140.40 (+.6%) for the week and is up 6.4% YTD as it surfed nicely on Friday jumping 2.66%.

With the overall negative market swing, the CBOE Volatility Index (^VIX) and volatility lovers won significantly as it closed at $19.85, up 5.42% over the last 5-days and is now down 8.40% YTD.

Our clear winner last week, came up short this week as the small caps on the Russell 2000 closed at 1,867.34 (-1%) for the week, but is still up a solid +6% YTD. The MicroCaps also fell short of the green as the iShares Micro-Cap ETF (IWC) closed at $115.40 off .15% this week, but remains up 7.02% YTD.  

Interestingly, biotech stocks rose slightly this week on the larger side of things as the Nasdaq Biotechnology ETF (IBB) moved up and closed at $135.47, +.27% and is up 3.18% YTD, the NYSE ARCA Biotech Index (^BTK) closed at 5,528.261, +.39% over the last 5-days and is now up 4.68% YTD, however the SPDR S&P Biotech ETF (XBI) closed at $86.99, down 1.06% over the last 5-days & is now up 4.81% YTD. The 52-week range is is now $61.78-$99.16. The iShares U.S. Healthcare ETF (IYH) closed at $280.84, -.58% over the last 5-days and is now down 1.01% YTD. 

Cellectis (CLLS, $3.06, +45% YTD)), a clinical-stage biotechnology company using its pioneering gene-editing platform to develop life-saving cell and gene therapies, announced Friday, Jan. 20 that it has amended certain financial terms of the $20 million convertible note issued by its partner, Cytovia Therapeutics, LLC  in payment of the upfront collaboration consideration provided for pursuant to the research collaboration and non-exclusive license agreement between Cellectis and Cytovia. The amended and restated note provides for automatic conversion into common stock of Cytovia in the case of certain fundamental transactions pursuant to which Cytovia becomes a public reporting company and for conversion at Cellectis’ option in connection with certain financing transactions, upon a company sale and at final maturity. In each case such conversion is subject to a 9.9% ownership cap, with the balance issuable in the form of pre-funded warrants. Among other changes, the amended and restated note increased the applicable interest rate of the note to 10% per annum, subject to a 10% step up upon the occurrence and continuation of an event of default, provided for the repayment of 50% of the outstanding amount on April 30, 2023 and extended the final maturity date for the repayment of the remaining outstanding amount to June 30, 2023. 

EV, TECH, CONSUMER, FINANCIALS

Apple (AAPL) closed at $137.87, +3.34% over the last 5-days. Apple represents a 6.82% weighting in the S&P 500. Interestingly, reports surfaced this week that Apple has plans to offer a new kind of “low-end” iPad, that is targeted to be used at or around the home.

 

The Walt Disney Company (DIS) closed at $103.48, +3.68% over the last 5-days. This week, the first African American woman, Walt Disney’s Charita Carter, was announced to hold the crown of executive creative producer of Walt Disney Imagineering.

 

Last week, Disney’s Board of Directors elected an independent director called Mark G. Parker as Chairman of the Board, effective following the Annual Meeting of Shareholders. Mr. Parker, a seven-year member of the Disney Board and Executive Chairman of NIKE, Inc., will succeed Susan E. Arnold, who will not stand for re-election pursuant to the 15-year term limit under Disney’s Board Tenure Policy.

 

The Walt Disney Company will discuss fiscal first quarter 2023 financial results via a live audio webcast beginning at 4:30 p.m. ET / 1:30 p.m. PT on Wednesday, February 8, 2023. Results will be released after the close of regular trading on February 8, 2023. To listen to the webcast, please visit www.disney.com/investors. The webcast presentation will be archived.

 

On Jan.4, The Walt Disney Company marked its 100th anniversary in 2023, Disney Consumer Products, Games and Publishing will unveil exciting new collections and experiences celebrating Disney 100 Years of Wonder. 2023 will celebrate the storytellers who have brought generations the wonder and magic that is Disney, and the fans and families who have brought Disney into their hearts throughout the past 100 years. Everyone can share their favorite moments using #ShareTheWonder and #Disney100.

Shares of JPMorgan (JPM) closed at $135.08, -3.16% over the last 5-days. On Jan. 20, J.P. Morgan Asset Management (JPMAM) announced significant steps in advancing its long-standing commitment to expanding in China. JPMAM has received regulatory approval from the China Securities Regulatory Commission (CSRC) to complete its acquisition of China International Fund Management Co., Ltd. (CIFM). CIFM will be operating under the JPMAM brand in China (JPMAM China), reflecting its integration into the firm’s global operating model.

On  January 13, JP Morgan reported its Q4 results. Jamie Dimon, Chairman and CEO, commented on the financial results: “JPMorgan Chase reported strong results in the fourth quarter as we earned $11.0 billion in net income, $34.5 billion in revenue and an ROTCE of 20%, while maintaining a fortress balance sheet and making all necessary investments. This robust earnings generation combined with the execution of our capital strategy allowed us to exceed our CET1 target of 13% one quarter early, and we have the ability to resume stock buybacks this quarter, as we deem appropriate. Looking further ahead, we still await details of the Basel III finalization package, but we will manage to the new requirements as we have demonstrated in the past.Our lines of business performed well in the quarter, and we continued to see momentum in our areas of strategic focus. In Consumer & Community Banking, debit and credit card sales were up 9%, while card loans were up 19% with total revolving balances now back to pre-pandemic levels. In the Corporate & Investment Bank, Markets revenue rose 7% as client activity remained strong in Fixed Income. Global Investment Banking fees were down significantly in a challenging environment, although we maintained our #1 ranking in 2022. Commercial Banking loans were up 14% on new loan originations and higher revolver utilization. And in Asset & Wealth Management, revenue increased 3% as higher net interest income more than offset the impact of lower market levels. The U.S. economy currently remains strong with consumers still spending excess cash and businesses healthy. However, we still do not know the ultimate effect of the headwinds coming from geopolitical tensions including the war in Ukraine, the vulnerable state of energy and food supplies, persistent inflation that is eroding purchasing power and has pushed interest rates higher, and the unprecedented quantitative tightening. We remain vigilant and are prepared for whatever happens, so we can serve our customers, clients and communities around the world across a broad range of economic environments. As a result of the investments we have made over the years and our dedication to clients, the Firm is in a position of strength as the market leader in U.S. retail deposits, credit cards, business banking, Payments, Markets, investment banking and multifamily lending as some examples. But we will not rest here, and we remain committed to investing in the franchise and innovating. The importance of these investments and investing through cycles was particularly evident this year, as we generated a robust ROTCE of 18% even after sharply accelerating our investments in the business. In 2022, we extended credit and raised $2.4 trillion in capital for small and large businesses, governments and U.S. consumers. Finally, I want to reiterate how proud I am of our employees and how they work to support our customers and communities and earn their trust every single day.”

Shares of Microsoft Corp. (MSFT) closed at $240.22, +.72% over the last 5-days.  

Shares of Salesforce, Inc. (CRM) closed at $151.25, +1.10% over the last five days. On Jan. 9, Salesforce released its 2022 holiday shopping recap, analyzing November and December shopping data from over 1.5 billion shoppers on retail sites using Salesforce Customer 360 (including 24 of the top 30 U.S. online retailers. Recently, CEO Marc Benioff stated at the he is seeking to cut costs by $3-$5B. as he seeks to restructure the business starting with a 10% workforce reduction and reducing their real estate footprint that spans 100 offices in 89 cities.

Shares of NVIDIA (NVDA), a pioneer in accelerated computing, closed at $178.39, +8.04% over the last 5-days. Last week, NVIDIA and Hon Hai Technology Group (Foxconn), the world’s largest technology manufacturer, announced a strategic partnership to develop automated and autonomous vehicle platforms.

Cathie Wood’s ARK Innovation ETF (ARKK) closed at $36.50, +2.85% over the last 5-days.  

The Technology Select Sector SPDR Fund (XLK) closed at $131.34, +.94% over the last 5-days. 

Shares of McDonald’s (MCD) closed at $268.58,+.71% over the last 5-days. 

GOLD & SILVER

Gold prices closed at $1930/oz., +$8/oz. & silver prices closed at $23.99/oz., -$.32/oz. for the week.

Hecla Mining (HL) closed at $6.26, +4.68% over the last 5-days after announcing last week that they have realized a 10% increase in silver production over 2021 & that Keno Hill is expected to produce more than 2.5 million ounces in 2023.  First Majestic (AG) closed at $8.06, -8.93% over the last 5-days. On Jan. 19, First Majestic announced that total production in the fourth quarter of 2022 from the Company’s four producing operations, the San Dimas Silver/Gold Mine, the Jerritt Canyon Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine reached 7.6 million silver equivalent (“AgEq”) ounces, consisting of 2.4 million silver ounces and 63,039 gold ounces. Total production for the full year of 2022 reached a new Company record of 31.3 million AgEq ounces, consisting of 10.5 million silver ounces and 248,394 gold ounces, or a 16% increase compared to 2021. In 2023, the Company is expecting to increase production to a new Company record of between 33.2 to 37.1 million AgEq ounces, consisting of 10.0 to 11.1 million ounces of silver and 277,000 to 310,000 ounces of gold, with an all-in sustaining cost (“AISC”) guidance of between $18.47 to $19.72 per AgEq ounce. Based on the midpoint of the guidance range the Company expects AgEq ounces to increase 12% when compared to 2022.

MEMES CENTRAL

AMC Entertainment (AMC) closed at $5.52, +9.96% & (APE) closed at $1.74, +11.54% over the last 5-days.   

GameStop (GME) closed at $19.61, -4.94% over the last 5-days as the shorts won overall this week. 

Seanergy Maritime Holdings Corp. (SHIP) closed at $.5722, +5.96% over the last 5-days. On Jan. 20, Seanergy announced an aggregate of $8.8 million of buybacks of its securities consisting of:

(i) $8 million of its outstanding convertible note with 5.5% coupon and a conversion price of $1.20 per share (the “Note”), pursuant to the terms of the Note, and

(ii) $0.8 million in 4,038,114 warrants at $0.2 per warrant, pursuant to the recently completed tender offer. The repurchased securities represent approximately 47% of the outstanding Class E Warrants to purchase an equal number of shares at an exercise price of $0.524 per share.

Moreover, Seanergy’s Chairman & CEO, Stamatis Tsantanis, has since August 2022 purchased 300,000 of the Company’s common shares in the open market.

CRYPTO & BITCOIN

Bitcoin (BTC) closed at $22,319.21, +5.43% over the last 5-days at the time this report was prepared. 

ENERGY

The Energy Select Sector SPDR Fund or ETF (XLE) closed at $90.48, +.73% over the last 5-days. 

Chevron (CVX) closed at $180.90, +2.16% over the last 5-days. Chevron will hold its quarterly earnings conference call on Friday, January 27, 2023, at 11:00 a.m. ET (8:00 a.m. PT). Dial-in # (Listen-only mode): 888-256-9157, Conference ID #: 8377370. To access the live webcast, visit www.chevron.com.

Warren Buffet’s pick in the sector, Occidental Petroleum (OXY) closed at $65.31, +2.45% over the last 5-days.

Oil prices closed on Friday to end at $81.73/bbl and up 2.3% over the last 5-days and is up 1.8% YTD.

NEXT WEEK

The markets will be back up and running for 5 full trading sessions in the stock market next week.

VP WATCHLIST UPDATES

Please review a select group of emerging names below and their updates below:

Shares of InMed Pharmaceuticals Inc. (INM), a leader in the research, development and manufacturing of rare cannabinoids, closed at $2.12, +2.43% over the last 5-days and +4.95% YTD.

• On Dec. 16, InMed confirmed that, at its annual general meeting of shareholders held on December 15, 2022 (the “Meeting”), all of the matters put forward before shareholders for consideration and approval as set out in InMed’s notice of meeting and management information circular, dated October 28, 2022, were approved by the shareholders. In particular, shareholders approved the election of all director nominees to hold office until the next annual meeting of shareholders or until their successors are elected or appointed. See results. 

• On Dec. 12, InMed announced the Company has entered into a service contract with Brio Financial Group to provide senior financial leadership and bookkeeping services. Pursuant to the Contract, Mr. Jonathan Tegge, a member of Brio, will assume the role of Interim Chief Financial Officer for the Company effective December 12, 2022. Brio is a financial and management consulting group based in Bridgewater, New Jersey. The firm provides outsourced financial management and financial reporting support to small and middle market entities. Currently, the team provides consulting services to over 50 private and publicly traded companies. Additionally, the Company announces that its auditor, KPMG, has resigned effective as of December 8, 2022, and that the Audit Committee of the Board of Directors of the Company approved the engagement of Marcum LLP  as its auditor, subject to Marcum’s completion of their client acceptance procedures. Marcum will stand for appointment at the Company’s Annual General Meeting, currently scheduled for Thursday, December 15, 2022. KPMG has confirmed that there are no reportable events (as such term is defined in National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”)).

• On Nov. 21, InMed announced the closing of its previously announced private placement with two healthcare-focused institutional investors for the issuance and sale of 1,818,185 of its common shares at a purchase price of $3.30 per share (or pre-funded warrant in lieu thereof) priced at-the-market under Nasdaq rules. In addition, the Company has issued to the investors in the offering unregistered preferred investment options (the “investment options”) to purchase up to an aggregate of 3,272,733 common shares. The aggregate gross proceeds to the Company from the private placement were approximately $6 million. The Company intends to use the net proceeds from the offering to continue pipeline development of its pharmaceutical drug candidates, advance manufacturing know-how of cannabinoids and cannabinoid analogs, support intellectual property development and other commercial activities, and for general working capital purposes.

• On Nov. 17, Tribe Public’s Webinar Presentation and Q&A Event was co-hosted by Eric A. Adams, CEO & Eric C. Hsu, PhD, Senior Vice President, Pre-Clinical Research & Development of InMed Pharmaceuticals (NASDAQ: INM. They delivered a presentation titled “Exploring The Neuroprotective Qualities of Rare Cannabinoids”& addressed a Q&A session at the end of the presentation. You may now watch the event video art the Tribe Public YouTube Channel at this link. 

Thanks again for your attention this week. Please continue to share your thoughts, questions, & ideas as we move forward. 

In the meantime, please enjoy the balance of the weekly newsletter’s videos, quotes, updates and let’s find ways to crush it again this year!

Investing & Inspiration

1. “A single twig breaks, but the bundle of twigs is strong.” – Tecumseh
2. “If one does not know to which port one is sailing, no wind is favorable.” – Lucius Annaeus Seneca
3. “There is little that can withstand a man who can conquer himself.” – Louis XIV
4. “The limits of the possible can only be defined by going beyond them into the impossible.” – Arthur C. Clarke
5. “Be faithful in small things because it is in them that your strength lies.” – Mother Teresa
6. “The future rewards those who press on. I don’t have time to feel sorry for myself. I don’t have time to complain. I’m going to press on.” – Barack Obama
7. “By three methods we may learn wisdom: First, by reflection, which is noblest; Second, by imitation, which is easiest; and third by experience, which is the bitterest.” – Confucius
8. “No man was ever wise by chance.” – Lucius Annaeus Seneca
9. “Progress is man’s ability to complicate simplicity.” – Thor Heyerdahl
10. “It is not in the stars to hold our destiny but in ourselves.” – William Shakespeare

11. “It does not matter how slowly you go as long as you do not stop.” – Confucius

12. “I want to put a ding in the universe.” – Steve Jobs

13. “Research is creating new knowledge.” – Neil Armstrong

14. “The reward for work well done is the opportunity to do more.” – Jonas Salk
15. “Man is a creative retrospection of nature upon itself.” – Karl Wilhelm Friedrich Schlegel
16. “There’s something about taking a plow and breaking new ground. It gives you energy.” – Ken Kesey

17. “Success seems to be largely a matter of hanging on after others have let go.” – William Feather

18. “The essential conditions of everything you do must be choice, love, passion.” – Nadia Boulanger

19. “More business is lost every year through neglect than through any other cause.” – Rose Kennedy

20. “Give me a lever long enough and a fulcrum on which to place it, and I shall move the world.” – Archimedes

21. “A person who won’t read has no advantage over one who can’t read.” – Mark Twain

22. “The best way out is always through.” – Robert Frost

23. “Start by doing what’s necessary; then do what’s possible; and suddenly you are doing the impossible.” – Francis of Assisi

24. “Without labor nothing prospers.” – Sophocles

25. “Intellectuals solve problems, geniuses prevent them.” – Albert Einstein

26. “This is the precept by which I have lived: Prepare for the worst; expect the best; and take what comes.” – Hannah Arendt

27. “The best and most beautiful things in the world cannot be seen or even touched – they must be felt with the heart.” – Helen Keller

28. “He who is brave is free.” – Lucius Annaeus Seneca

29. “When something is important enough, you do it even if the odds are not in your favor.” – Elon Musk

30. “I choose a block of marble and chop off whatever I don’t need.” – Auguste Rodin

31. “Hope is the only bee that makes honey without flowers.” – Robert Green Ingersoll

32. “He who knows that enough is enough will always have enough.” – Lao Tzu

33. “Plans to protect air and water, wilderness and wildlife are in fact plans to protect man.” – Stewart Udall

34. “In order to carry a positive action we must develop here a positive vision.” – Dalai Lama

35. “A hero is someone who understands the responsibility that comes with his freedom.” – Bob Dylan
36. “Inflation destroys savings, impedes planning, and discourages investment. That means less productivity and a lower standard of living.” – Kevin Brady
37. “If we give something positive to others, it will return to us. If we give negative, that negativity will be returned.” – Allu Arjun
38. “A good plan violently executed now is better than a perfect plan executed next week.” ~ George S. Patton
39. “You must do the things you think you cannot do.”- Eleanor Roosevelt
40. “Success is dependent on effort.” – Sophocles
41. “Nobody who ever gave his best regretted it.” – George Halas
42. “Lots of people want to ride with you in the limo, but what you want is someone who will take the bus with you when the limo breaks down.” ~ Oprah Winfrey
43. “And when I breathed, my breath was lightning.” – Black Elk
44. “Moderation is the silken string running through the pearl chain of all virtues.” – Joseph Hall
45. “You are the sum total of everything you’ve ever seen, heard, eaten, smelled, been told, forgot – it’s all there. Everything influences each of us, and because of that I try to make sure that my experiences are positive.” – Maya Angelou
46. “If you want a guarantee, buy a toaster.” – Clint Eastwood
47. “We are an impossibility in an impossible universe.” – Ray Bradbury
48. “If you think in terms of a year, plant a seed; if in terms of ten years, plant trees; if in terms of 100 years, teach the people.” – Confucius
49. “I’d rather attempt to do something great and fail than to attempt to do nothing and succeed.” – Robert H. Schuller
50. “Do your little bit of good where you are; it’s those little bits of good put together that overwhelm the world.” Desmond Tutu
51. “It takes considerable knowledge just to realize the extent of your own ignorance.” – Thomas Sowell
52. “Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment.” – Buddha”
53. Surprise is the greatest gift which life can grant us.” –  Boris Pasternak
54. “Trust in dreams, for in them is hidden the gate to eternity.” – Khalil Gibran 
55. “Always be yourself, express yourself, have faith in yourself, do not go out and look for a successful personality and duplicate it.” – Bruce Lee
56. “All life is an experiment. The more experiments you make the better.” – Ralph Waldo Emerson
57. “There are no secrets to success. It is the result of preparation, hard work, and learning from failure.” –  Colin Powell
58. “There is more to life than increasing its speed.” – Mahatma Gandhi
59. “Your attitude is like a box of crayons that color your world. Constantly color your picture gray, and your picture will always be bleak. Try adding some bright colors to the picture by including humor, and your picture begins to lighten up.” – Allen Klein
60. “Definiteness of purpose is the starting point of all achievement.” – W. Clement Stone
61. “Success usually comes to those who are too busy to be looking for it.” – Henry David Thoreau
62. “In matters of truth and justice, there is no difference between large and small problems, for issues concerning the treatment of people are all the same.” – Albert Einstein
63. “Life is too short for long-term grudges.” – Elon Musk
64. “There cannot be a crisis next week. My schedule is already full.” – Henry Kissinger
65. “Success consists of getting up just one more time than you fall.” – Oliver Goldsmith
66. “The Earth is the cradle of humanity, but mankind cannot stay in the cradle forever.” – Konstantin Tsiolkovsky
67. “Ours is a world of nuclear giants and ethical infants. We know more about war that we know about peace, more about killing that we know about living.” – Omar N. Bradley
68. “Beauty surrounds us, but usually we need to be walking in a garden to know it.” – Rumi
69. “But man is not made for defeat. A man can be destroyed but not defeated.” – Ernest Hemingway
70. “Don’t watch the clock; do what it does. Keep going.” – Sam Levenson
71. “Let there be work, bread, water and salt for all.” – Nelson Mandela
72. “The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future.” – John Maynard Keynes
73. “A successful society is characterized by a rising living standard for its population, increasing investment in factories and basic infrastructure, and the generation of additional surplus, which is invested in generating new discoveries in science and technology.” – Robert Trout
74. “I know not with what weapons World War III will be fought, but World War IV will be fought with sticks and stones.” – Albert Einstein
75. “It is the fight alone that pleases us, not the victory.” – Blaise Pascal
76. “If you can’t describe what you are doing as a process, you don’t know what you’re doing.” – W. Edwards Deming
77. “Never interrupt your enemy when he is making a mistake.” – Napoleon Bonaparte
78. “Be sure you put your feet in the right place, then stand firm.” – Abraham Lincoln
79. “Without investment there will not be growth, and without growth there will not be employment.” – Muhtar Kent
80. “You have to do your own growing no matter how tall your grandfather was.” – Abraham Lincoln
81. “Victory has a thousand fathers, but defeat is an orphan.” – John F. Kennedy
82. “Delete the negative; accentuate the positive!” – Donna Karan
83. “It’s crazy how fast time flies and how things progress.” – Nathan Chen
84. “The world is a dangerous place to live; not because of the people who are evil, but because of the people who don’t do anything about it.” – Albert Einstein
85. “Life isn’t about finding yourself. Life is about creating yourself.” – George Bernard Shaw
86. “Everything has beauty, but not everyone sees it.” – Confucius
87. “A man must be big enough to admit his mistakes, smart enough to profit from them, and strong enough to correct them.” – John C. Maxwell
88. “Walking with a friend in the dark is better than walking alone in the light.” – Helen Keller
89. “A man who dares to waste one hour of time has not discovered the value of life.” – Charles Darwin
90. “The greater danger for most of us lies not in setting our aim too high and falling short; but in setting our aim too low, and achieving our mark.” – Michelangelo
91. “Progress is man’s ability to complicate simplicity.” – Thor Heyerdahl
92. “I like to encourage people to realize that any action is a good action if it’s proactive and there is positive intent behind it.” – Michael J. Fox
93. “Nothing is impossible, the word itself says ‘I’m possible’!” – Audrey Hepburn
94. “But investment in space stimulates society, it stimulates it economically, it stimulates it intellectually, and it gives us all passion.” – Bill Nye
95. “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
96. “Life is a tragedy when seen in close-up, but a comedy in long-shot.” – Charlie Chaplin
97. “No matter what you’re going through, there’s a light at the end of the tunnel and it may seem hard to get to it but you can do it and just keep working towards it and you’ll find the positive side of things.” – Demi Lovato
98. “Infrastructure investment in science is an investment in jobs, in health, in economic growth and environmental solutions.” – Oren Etzioni
99. “Educating our children and giving them the skills they need to compete in a global economy is a smart investment in our country’s future.” – Sheldon Whitehouse
100. “Know thy self, know thy enemy. A thousand battles, a thousand victories.” – Sun Tzu
101. “If one does not know to which port one is sailing, no wind is favorable.” – Lucius Annaeus Seneca
102. “Beware of missing chances; otherwise it may be altogether too late some day.” – Franz Liszt
103. “The sofa is a really important investment for anybody, and I don’t mean financially. You need to find a really great sofa that can transition with you, and you can build from there.” – Jeremiah Brent
104. “There is no investment you can make which will pay you so well as the effort to scatter sunshine and good cheer through your establishment.” – Orison Swett Marden
105. “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
106. “There is little that can withstand a man who can conquer himself.” – Louis XIV
107. “In tennis, you strike a ball just after the rebound for the fastest return. It’s the same with investment.” – Masayoshi Son
108. “A camel makes an elephant feel like a jet plane.” – Jackie Kennedy
109. “The advance of technology is based on making it fit in so that you don’t really even notice it, so it’s part of everyday life.” – Bill Gates
110. “Success depends upon previous preparation, and without such preparation there is sure to be failure.” – Confucius, Chinese 
111. “Coming together is a beginning; keeping together is progress; working together is success.” – Edward Everett Hale
112. “Never do anything against conscience even if the state demands it.”– Albert Einstein
113. “Education is not only a ladder of opportunity, but it is also an investment in our future.” – Ed Markey
114. “The true measure of a man is how he treats someone who can do him absolutely no good.” – Samuel Johnson
115. “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
116. “A successful society is characterized by a rising living standard for its population, increasing investment in factories and basic infrastructure, and the generation of additional surplus, which is invested in generating new discoveries in science and technology.” – Robert Trout
117. “The best preparation for tomorrow is doing your best today.” – H. Jackson Brown, Jr.
118. “Friendship marks a life even more deeply than love. Love risks degenerating into obsession, friendship is never anything but sharing.” – Elie Wiesel
119. “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
120. “Success isn’t measured by money or power or social rank. Success is measured by your discipline and inner peace.” – Mike Ditka
121. “No matter how many goals you have achieved, you must set your sights on a higher one.” – Jessica Savitch 
122. “Start where you are. Use what you have. Do what you can.”– Arthur Ashe
123. “The secret of getting ahead is getting started.” – Mark Twain
124. “The amount of work and the amount of both physical and emotional investment it takes to get to the top.” – Drew Bledsoe