Markets Correct This Week As Reddit & Robinhood (R&R) Investors Have ‘Their Day’ In The Limelight

It was certainly an increasingly volatile week as we saw the markets swing substantially throughout, while ending overall substantially in the red. Simply put, there were no winners in the broad sense. Almost in exact fashion the S&P 500 closed at 3,714.24 (-3.3% wk/wk) (-1.1 YTD), the Dow ended at 29,982.62 (-3.3% wk/wk) (-2 YTD), & the Nasdaq Composite closed at 13,543.06 (-3.5% wk/wk) (+1.4 YTD) while the Russell 2000 closed a 2,073.64 (-4.4% wk/wk) (+5 YTD) nearly giving back half  its year-to-date gains. All sectors ended in negative territory with the energy sector leading the slide falling 6.6%. Interestingly, oil prices closed  only -2% lower closing  at $52.18/bbl. Are we correcting? Yes it would seem that we are now. One question, is how quickly will we pull back by 10% or close to it? It seems as though all things are moving quickly these days as people and algo’s rush in and rush out in just about everything.

Some evidence of this “rushing in” or “herd mentality” has been scene and over reported on this week by the mainstream media surrounding the trading of GameStop (GME). GameStop saw its shares skyrocket beyond belief to high of $483/share this week. It’s 52-week low is $2.57. The move came about after a Reddit account called “WallStreetBets” suggested or demanded for an army of its 2M followers to target or buy GME’s stock as it was being shorted by hedge funds and it had low float. After this, the short squeeze was on, a ridiculous amount of trading proceeded, & Robinhood, a brokerage firm that targets the retail investor, and other brokerage firms, restricted trading of GME at least temporarily and are now the focus of a class action lawsuit. This scenario also is playing out with AMC Entertainment’s (AMC) stock and others that have been identified to be shorted as well. It has been fun to watch and it will be interesting to see how this all plays out when all is said and done. Please consider sharing your thoughts on this as I am curious to see your reactions and read on the subject.

JEROME, JANET & JOE

Fed Chair Jerome Powell reconfirmed via a statement this week that “The ongoing public health crisis continues to weigh on economic activity, employment, and inflation, and poses considerable risks to the economic outlook.” The Fed continued to promise to leave interest rates low and to buying bonds to add liquidity and support economic activity and credit markets.

The Senate also voted to confirm former Federal Chair Janet Yellen as the 78th Secretary of the Treasury . She is the first woman to hold the position.

President-elect Joe Biden’s recently introduced $1.9T stimulus package seems to be getting caught up and the Fed suggested that it could be put off until March.

THE “MACRO”

The macroeconomic schedule also produced a number of reports as follows this week: On Tuesday the Conference Board’s Consumer Confidence Index report showed a rise to 89.3 in January. The S&P Case-Shiller Home Price Index report also confirmed a 9.1% rise in November. The FHFA Housing Price Index report moved up 1% in November. On Wednesday,  The new orders for durable goods report confirmed a rise by .2% month/month in December and when you exclude transportation, the orders moved up .7% month/month. The MBA Mortgage Applications Index report confirmed a 4.1% drop week over week. On Thursday, the Q4 real GDP report confirmed a rise by an annualized rate of 4%. The Initial jobless claims report showed an drop by 67k for the week ending January 23 to 847k (while continuing claims for the week ending January 16 dropped by 203k to 4.771M. The new home sales report showed a rise by 1.6% month/month to a seasonally adjusted annual rate of 842k in December. The Conference Board’s Leading Economic Index report (LEI) showed a rise by.3% month/month in December. The Advance report for International Trade in Goods report for December showed a deficit of $82.5B. The Advance report for Retail Inventories report for December showed a rise by 1%, and the Advance report for Wholesale Inventories for December showed a rise by .1%. Tomorrow, the schedule will deliver the Personal Income and Spending report for December, the PCE Prices report for December, the Q4 Employment Cost Index report, the Chicago PMI report for January, the Pending Home Sales report for December, & the final Univ. of Michigan Consumer Sentiment Survey report for January. On Friday, the Personal income report confirmed a rise by 6% month/month in December as personal spending fell .2%. The PCE Price Index report showed a rise by .4% month/month as the core PCE Price Index rose by .3%. The Q4 Employment Cost Index rose .7%. Wages and salaries increased by .9%. The final January reading for the University of Michigan Index of Consumer Sentiment came in at 79. The pending home sales report showed a drop by .3% month/month in December. The Chicago PMI for January rose to 63.8.

Next week, 22% of the S&P 500 companies will report earnings. We will also receive the ISM Purchasing Managers Index report, & the January jobs report.

COVID-19 UPDATE & EVENT

The coronavirus epidemic continues to surge. We have now seen 102 million reported cases worldwide with 2.2M deaths. It would seem that our current supply of the vaccine is not able to meet the need and even if it was we have failed to put forth a cohesive national plan to distribute it as each of the 50 states are still managing 50 different programs and failing. Apparently, other COVID strains are rapidly developing in the meantime, so hopefully we will be able to see better therapies surface in the meantime. On a positive note, Novavax (NVAX) closed at $220.94, +64.9% on Friday after stating that its COVID-19 vaccine candidate has produced an 89.3% efficacy rate in a Phase 3 trial in the United Kingdom.

I will also hosting Tribe Public’s next Webinar Presentation and Q&A Event, which will be held Tuesday, February 2 (8 am PT/ 11 am ET). The events are approximately 30 minutes in duration so quick and efficient way to learn from experts. The event will be cohosted by Steven Quay, MD, PhD, CEO & Founder of Atossa & Kyle Guse CFO of Atossa Therapeutics (NASDAQ: ATOS) who are working on a couple of interesting COVID therapies. Their presentation is titled “The Important Role of COVID-19 Therapeutics In A Post-Vaccine World.” Please consider registering for this FREE webinar event now at Atossa2021.TribePublic.com.

TECH HIGHLIGHTS

Shares of Microsoft (MSFT) closed at $231.96/share, 2.92% Friday, but up nicely from last Friday’s close of $225.95/share after reporting better than expected earnings. Intel (INTC) closed at $55.51, -.99% Friday, sliding down from last Friday’s $56.66/share close as they reported record revenues along with a slip in earnings recently. Bob Swan, Intel’s outgoing CEO, bought more than $1.5M of Intel’s stock after they reported on Jan. 22.

Salesforce (CRM) closed at $225.56, -.42% on Friday basically in line with last Friday’s close of $225.77. 

Peter Thiel co-founded software firm Palantir Technologies (PLTR) closed at $35.18/share, -1.35% Friday but up again from the $32.58/share close last week. PLTR’s COO stated that the pandemic has been “a real accelerant” for their business.

Leading EV car maker Tesla (TSLA) closed at $793.53, -5.02% Friday down from $846.64 last Friday after reportedly missing earnings expectations this week. Tesla notified customers on Friday that the their service centers will now offer collision repairs. Tesla also reported this week that they realized $678 million from a combined Services & other segment during the Q4 2020. Chinese EV concern NIO Limited (NIO) closed at $57, -2.35% on Friday down from $61.95/share last Friday. 

The ever so popular FAANG’s ended lower Friday as follows: Apple (AAPL) shares closed at $131.96, -3.74%, Amazon (AMZN) ($3,206.20, -.97%), Alphabet (GOOG) ($1,835.74, -1.47%), Facebook (FB) closed at $258.33, -2.52%, & Netflix (NFLX) closed at $532.39/share, -1.15%.

ACROSS THE DOW 30

Johnson & Johnson (JNJ) closed at $163.13/share, -3.56% Friday & in line with last week’s close of $163.55 as they reported that it single-dose COVUD-19 vaccine candidate was 66% effective. Pharmaceutical giant Merck (MRK) closed at $77.07/share, -.25% Friday shaving of another ~3 points from last Friday’s close of $80.98/share. 

Shares of Coca-Cola (KO) closed at $48.15/share basically in line with last Friday’s close of $48.49/share. Shares of Disney (DIS) closed at $168.17/share, -2.16% on Friday & down from last Friday’s at $172.78/share. Shares of Nike (NKE) closed at $133.59/share down from last Friday’s close at $139.35/share. Walmart (WMT) closed at $140.49/share down 6 points from last Friday’s close of $146.33/share. Walmart Stores, Inc. (WMT) closed at $140.49, -2.27% on Friday and is reportedly planning a big push to challenge Amazon and renaming its advertising business, now calling it Walmart Connect.

Shares of Deere (DE) closed at $288.80/share, -1.42% Friday, but up again from last week’s Friday close of $305.17/share. John Deere added four companies to its 2021 Startup Collaborator program this week. These startups are Nori, NVision Ag, Scanit, and Teleo. The Startup Collaborator program helps John Deere deepen its interaction with startup companies whose technology could add value for John Deere customers in the future. Caterpillar (CAT) closed at $182.84/share, -.81% & down from last Friday’s close of $191.94/share.  

Boeing (BA) closed $194.19, -1.54% on Friday & down from last Friday’s close of $205.84/share. Morgan Stanley upgraded Boeing as a ‘COVID-19 recovery play.

BIOTECH

iShares Nasdaq Biotechnology ETF (IBB) closed at $160.64 off about 4 points over the week. The NYSE ARCA Biotech Index (^BTK) closed at 5,984.62 off from ^6,161.23 at the start of the week.

FINANCIALS

Around the sector, Goldman Sachs (GS) closed trading at $271.17/share, -1.4% Friday & down from last Friday’s close of $289.39/share, American Express (AXP) closed at $116.26/share, -2.28% on Friday & down $10 from the $126.14/share close last Friday, Visa (V) closed trading at $193.25/share, -2.51% Friday & down from the $202.12/share close last Friday & shares of Morgan Stanley (MS) closed at $67.05/share, -3.27% Friday & down from last Friday’s close of $74.13/share. JPMorgan Chase (JPM) closed at $128.67, -1.11% Friday & down from the $133.79/share close last Friday & Citigroup (C) $57.99/share down again from the close of $61.33/share last week. PayPal Holdings (PYPL) closed at $234.31/share down from last Friday’s close of $252/share and Square (SQ) closed at $215.96 down from last week’s close of $222.88/share.

GOLD & SILVER MARKETS

Gold prices closed at $1849 down from the $1,856/oz. close last week. This Friday silver prices closed at $27.11/oz. up from the $25.54/oz. close last Friday. Barrick Gold Corp. (GOLD) closed trading at $22.37 down from last Friday’s close of $23.47/share. North American silver and gold producer Hecla Mining Company (HL) ended the week at $5.69/share slightly up from last Friday’s close of $5.39/share. Hecla announced its preliminary silver and gold production for the fourth quarter and full year 2020 and year-end cash position. Hecla’s President and CEO, Phillips S. Baker, Jr. stated, “Despite the challenges of operating during the pandemic, 2020 marked a year of very strong operational performance with silver production significantly exceeding guidance. Our U.S. silver production was 15% higher than the year before and more than 50% higher than 2018, strengthening our position as the United States largest silver producer. The strong performance allowed Hecla to reduce net debt, increase dividends, and double exploration expenditures while more than doubling last year’s cash position. At current prices, we could repeat these results in 2021.” Hecla will issue a news release reporting its fourth quarter and year-end 2020 financial results before market open on Thursday, February 18, 2021, and announces future management changes. A conference call and webcast will be held Thursday, February 18, at 9:00 a.m. Eastern Time to discuss fourth quarter and year-end 2020 financial results. You may join the conference call by dialing toll-free 1-833-350-1380 or for international by dialing 1-647-689-6934. The Conference ID is 7412488.

MONEY UPDATE

The U.S. Dollar Index strengthened to end the week at 90.55 marginally up from 90.21 last Friday.  The 2-yr Treasury yield closed lower at .11% compared to the prior week at .125%, the 10-yr yield closed in line ending at 1.09% while the 30-yr yield ended at 1.833% ticking down from 1.849% last Friday.

TRADING NEXT WEEK 

A full week of trading is in line for us next week.

STOCKS IN VIEW NEXT WEEK

• Shares of Chinook Therapeutics (KDNY), a clinical-stage biotechnology company developing precision medicines for kidney diseases, closed today at $14.17, -.84%. I hosted Chinook’s President & CEO Eric Dobmeier at our sister organization Tribe Public’s Presentation and Q&A event, Tuesday, Jan. 26th which you can watch now at Tribe Public YouTube Channel. 

• • Mr. Dobmeier previously was the President and CEO of Silverback Therapeutics, a Seattle-based biotechnology company in the immuno-oncology space. Prior to that, he spent more than 15 years at Seattle Genetics, most recently as Chief Operating Officer, where he oversaw business development, corporate communications, manufacturing, program/alliance management activities and corporate strategy initiatives. While at Seattle Genetics, Eric was also directly involved in raising more than $1.2 billion in equity capital, and led negotiation and completion of multiple corporate alliances with leading biotechnology and pharmaceutical companies. Earlier in his career, he represented technology companies in connection with public and private financings, mergers and acquisitions and corporate partnering transactions. Eric has a J.D. from University of California, Berkeley School of Law and an undergraduate degree from Princeton University. He is also a director of Atara Biotherapeutics and Adaptive Biotechnologies.

• • Chinook is a clinical-stage biopharmaceutical company discovering, developing and commercializing precision medicines for rare, severe chronic kidney diseases, a severe and growing worldwide problem with a lack of effective treatments often leading to dialysis, transplantation, and high costs to health care systems. In the U.S. alone, kidney diseases affect an estimated 37 million people and account for over $120 billion in annual costs.

• • Chinook has well-funded development programs with participation in a $115 million private placement financing concurrent with the close of a merger with Aduro Biotech in Q4 2020 from top-tier healthcare investors including, EcoR1 Capital, OrbiMed Advisors, funds managed by Rock Springs Capital, Fidelity Management and Research Company LLC, Avidity Partners, Surveyor Capital (a Citadel company), Ally Bridge Group, Monashee Investment Management LLC, Northleaf Capital Partners, Janus Henderson Investors, Sphera Biotech and others.

• Shares of Natural-Killer cell (NKcell) focused biopharmaceutical firm Fate Therapeutics (FATE) closed at $90.63/share down from $97.19 last Friday and cooling off considerably from its recently achieved a new all-time high of $121.16.  Recently, FATE announced the pricing of an underwritten public offering of ~$432 million at $85.50. Jefferies, BofA Securities, SVB Leerink and Barclays acted as joint book-running managers for the offering.  We started with this one folks over 3 years ago when it was in the $3 range.

• • Fate is a clinical-stage biopharmaceutical company dedicated to the development of programmed cellular immunotherapies for cancer and immune disorders.

• • Recently, Fate presented a patient case study from the Company’s Phase 1 clinical trial of FT596, its universal, off-the-shelf, CD19-targeted chimeric antigen receptor (CAR) natural killer (NK) cell product candidate, at the 62nd Annual Society of Hematology Annual Meeting and Exposition and the street loved it. NK cells are the body’s first line of defense against viral infections and cancerous cells with an innate ability to rapidly seek and destroy transformed cells. NK cell therapy has the potential to 1) target multiple pathogenic antigens with measurably more efficient cytotoxicity, 2) be better controlled to reduce risk of cytokine storms and 3) be produced from a variety of sources without relying on patient-specific immune cells. Dr. Wayne Chu, Senior Vice President, Clinical Development of Fate Therapeutics stated, “The safety, pharmacokinetics and clinical activity observed following both the first and second single-dose treatment cycles of FT596 are compelling, especially when considering that the administered cell dose was significantly lower than the recommended cell dose of FDA-approved autologous CD19-targeted CAR T-cell therapies and that the heavily pre-treated patient was refractory to last prior therapy. We are excited the CAR component of FT596 has shown clinical activity at this low dose level, and we continue to enroll patients in dose escalation with FT596 as a monotherapy and in combination with rituximab. Our recent Phase 1 clinical data with FT516 in combination with rituximab, which demonstrate the potential of our novel hnCD16 Fc receptor to potentiate ADCC and drive complete responses, support our belief that the multi-antigen targeting functionality of FT596 may offer best-in-class potential for patients with B-cell malignancies.” 

• • We have made another investment in a private company called Cytovia Therapeutics that owns its own NK cell platform that some investors are calling “FATE 2.0”. They are seeking to go next year in Q2/Q3 as there is room in the markets for another NK cell company. Their website is www.cytoviatx.com.

• Shares of Atossa Therapeutics, Inc. (Nasdaq: ATOS) closed at $2.21/share up from $.1.87/share last week.  Atossa announced that it has received $21 million from the exercise of outstanding warrants. The warrants were issued in financings in December 2020 and January 2021. Kyle Guse, CFO and General Counsel stated, “In the past 60 days, we have made great progress in adding substantial cash resources so that we can accelerate development of our COVID-19 and breast cancer therapies. We completed financings with gross proceeds of approximately $60 million and in the past week have added an additional $21 million to our balance sheet through the exercise of outstanding warrants. We look forward to the speed at which we can now advance our programs in 2021.”

• • Atossa Therapeutics is a clinical-stage biopharmaceutical company seeking to discover and develop innovative medicines in areas of significant unmet medical need with a current focus on breast cancer and COVID-19.

  • Atossa recently announced blinded preliminary results from its Phase 1 clinical study using Atossa’s proprietary drug candidate AT-301 administered by nasal spray. AT-301 was found to be safe and well tolerated in this study at two different dose levels in both single and multiple dose forms over 14 days. AT-301 is being developed for at home use for patients recently diagnosed with COVID-19. There are currently no FDA-approved therapies to treat COVID-19 at home. Learn more now.

• • Atossa is seeking in the near term to get an FDA nod to move into a Phase 2 trial with its nasal spray COVID-19 therapy.

• • Atossa’s CEO, Dr. Steven Quay, M.D., Ph.D. & CFO, Kyle Guse, Esq., will present at Tribe Public’s Webinar Presentation and Q&A Event titled “The Important Role of COVID Therapeutics in a Post Vaccine World”. The Event is scheduled to begin at 8am Pacific/11am Eastern on Tuesday, February 2, 2021. To register to join the complimentary, ZOOM webinar-based event, please visit Tribe Public LLC at Atossa2021.TribePublic.com.

• Shares of INVO Bioscience (NASDAQ: INVO) closed at $2.96/share. This week INVO announced it has advanced its commercialization efforts into the European fertility market by securing initial orders of INVOcell in Madrid and Barcelona, Spain. INVOcell will initially be available at three separate existing fertility clinics which have placed orders and commenced training..

• • INVO Bioscience, Inc. (INVO) is a medical device company focused on creating alternative treatments for patients diagnosed with infertility and developers of INVOcell®, the world’s only in vivo Intravaginal Culture System. Industry forecasts suggest that only 1% to 2% of the estimated 150 million infertile couples worldwide are currently being treated. INVO’s mission is to increase access to care and expand infertility treatment across the globe with a goal of improving patient affordability and industry capacity. Since January 2019, INVO Bioscience has signed commercialization agreements in the United States, India, as well as parts of Africa and Eurasia and Mexico for the INVOcell device.

• • INVO’s Management Issued a letter to shareholders recently that spoke to their key developments and future initiatives that have positioned their product INVOcell® within the severely underserved fertility market. PLEASE READ IT HERE.

• • INVO received BUY Ratings from both Roth Capital ($5 PT) & Collier International Securities ( $5.75 PT) in December, 2020.  

• • Recently, INVO filed an 8k highlighting three new partners that they have established to distribute or develop invocell only clinics in Malaysia and North Macedonia.\

• • INVO recently announced that it has entered an exclusive distribution agreement with Galaxy Pharma Ltd. to distribute the INVOcell system within Pakistan, the fifth most populous country in the world with approximately 212 million people. Galaxy Pharma is a leader in providing products and services to the country’s current full-service In Vitro Fertilization (IVF) facilities, and has joint ventures operating an additional 21 facilities focused on administering Intrauterine Insemination (IUI) via OBGYN’s.

• Shares of NeuBase Therapeutics (NBSE) closed trading this week at $9.15 down from $10/share last week. This week, NBSE announced the execution of a binding agreement to acquire infrastructure, programs and intellectual property for several peptide-nucleic acid (PNA) scaffolds from Vera Therapeutics, formerly known as TruCode Gene Repair, Inc. The technology has demonstrated the ability to resolve disease in genetic models of several human indications. The acquisition was reported to bolster NeuBase’s capabilities and reinforces the Company’s position as a leader in the field of genetic medicine. Read the complete story.

• • The company expects to successfully negotiate a corporate licensing deal of some kind prior to the one-year anniversary of their April, 2020 equity financing as stated in a recent interview.

• • NeuBase is developing the next generation of gene silencing therapies with its flexible, highly specific synthetic antisense oligonucleotides. The proprietary NeuBase peptide-nucleic acid (PNA) antisense oligonucleotide (PATrOL™) platform allows for the rapid development of targeted drugs, increasing the treatment opportunities for the hundreds of millions of people affected by rare genetic diseases, including those that can only be treated through accessing of secondary RNA structures. Using PATrOL technology, NeuBase aims to first tackle rare, genetic neurological disorders.

• • Recently, NeuBase announced positive in vitro and in vivo preclinical data for its PATrOL™-enabled anti-gene therapies for the treatment of myotonic dystrophy type 1 (DM1). These new data show that PATrOL-enabled Compound A can rapidly resolve mis-splicing without negatively impacting DMPK protein levels. They also support the potential of NeuBase’s anti-gene approach to comprehensively treat the underlying cause of DM1. Curt Bradshaw, Ph.D., Chief Scientific Officer of NeuBase stated “Despite the fact that the genetic basis of DM1 is well understood today, there is still an urgent need to find the first genetically-targeted, disease-modifying treatment option for affected patients. DM1 is caused by a genetic mutation in the DMPK gene leading to mis-splicing of a broad spectrum of genes and DMPK protein insufficiency. A treatment option that addresses mis-splicing while retaining functional DMPK protein levels may be key to treating all aspects of DM1.”

  • Recently, I hosted a FREE Presentation & Q&A Event for our sister organization Tribe Public with the CEO & Founder of NeuBase, Dietrich Stephan, Ph.D., an industry veteran who is considered one of the fathers of the field of precision medicine. The presentation is titled “Accelerating the Genetic Revolution with a New Class of Synthetic Medicines.” You can view the recording at the Tribe Public Channel. 

• We continue to like clean hydrogen solution provider Plug Power (PLUG) closed at $63.17 Friday after recently hitting a new all-time high of $75.49 this week. It has been a nice ride this fall from the $10.50 range when we identified it. With the significantly bolstered balance sheet and the Biden push for clean energy alternatives it seems to be poised for further growth.  This week they added $1.8Billion via another common stock offering at $65/share.

• • Recently, PLUG announced that they are jointly developing hydrogen-powered light commercial vehicles (LCV) with French carmaker Renault.

• • Three weeks ago,  Plug and the SK Group also announced that the companies intend to form a strategic partnership to accelerate hydrogen as an alternative energy source in Asian markets. SK Group will make a $1.5 billion (9.9% stake) strategic investment in Plug Power.

• • Recently, PLUG announced that is expanding is relationship with Walmart (WMT).

• • In Q4/2020. PLUG confirmed that they had sold 38M shares priced at $22.25/shares raising a whopping $845.5M which represented about 9.1% of the shares outstanding which brought their capital to the $1.7B range then and now it would seem that they are close to ~3B. 

QUOTE OF WEEK

“Don’t look for the needle in the haystack. Just buy the haystack!” — John Bogle

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. 

Investing & Inspiration

“Don’t look for the needle in the haystack. Just buy the haystack!” — John Bogle

“No Price is too low for a bear or too high for a bull.” — Anonymous

“Investment is an asset or item that is purchased with the hope that it will generate income or appreciate in the future.” — Anonymous

“Behind every stock is a company. Find out what it’s doing.” — Peter Lynch

“Wise spending is part of wise investing. And it’s never too late to start.” –Rhonda Katz

“If there is one common theme to the vast range of the world’s financial crises, it is that excessive debt accumulation, whether by the government, banks, corporations, or consumers, often poses greater systemic risks than it seems during a boom.” — Carmen Reinhart

“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

“A bull market is like sex. It feels best just before it ends.” — Barton Biggs

“The investor’s chief problem — even his worst enemy — is likely to be himself.” — Benjamin Graham

“No profession requires more hard work, intelligence, patience, and mental discipline than successful speculation.” – Robert Rhea

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

“Money is like a sixth sense – and you can’t make use of the other five without it.” – William Somerset Maugham

“Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn’t, pays it.” — Albert Einstein

“The stock market is a device for transferring money from the impatient to the patient.” – Warren Buffett

“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

“Investing puts money to work. The only reason to save money is to invest it.” – Grant Cardone

“Formal education will make you a living; self-education will make you a fortune.” – Jim Rohn

“You cannot save time for your future use however you can invest time for your future.” – John F. Heerdink, Jr. 

“We always live in an uncertain world. What is certain is that the United States will go forward over time.” – Warren Buffett

“Never test the depth of the river with both of your feet.” – Warren Buffet

“Know what you own, and know why you own it.” – Peter Lynch

“Liquidity is only there when you don’t need it.” -Old Proverb

“There is no such thing as no risk. There’s only this choice of what to risk, and when to risk it.” – Nick Murray

“If you want to be a millionaire, start with a billion dollars and launch a new airline.” – Richard Branson

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

“In investing, what is comfortable is rarely profitable.” – Robert Arnott

“Spend each day trying to be a little wiser than you were when you woke up.” – Charlie Munger

“The entrance strategy is actually more important than the exit strategy.” – Edward Lampert

“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” – PopeFrancis

“It is impossible to produce superior performance unless you do something different from the majority.” – John Templeton

“Inaction and patience are almost always the wisest options for investors in the stock market.” – Guy Spier

“Remember that the stock market is a manic depressive.”  – Warren Buffett

“An investment in knowledge pays the best interest.” – Benjamin Franklin

“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

“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

“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

“If all the economists were laid end to end, they’d never reach a conclusion.
-George Bernard Shaw

“The riskiest thing we can do is just maintain the status quo. I get up at 4:30 in the morning, seven days a week, no matter where I am in the world. I think it is important for people who are given leadership roles to assume that role immediately. What I’ve really learned over time is that optimism is a very, very important part of leadership.” – Bob Iger, Former Ceo of Disney

“In the short run, the market is a voting machine. But in the long run, it is a weighing machine.” – Ben Graham

“In investing, what is comfortable is rarely profitable.” -Robert Arnott

“The fundamental law of investing is the uncertainty of the future.” -Peter Bernstein

“How many millionaires do you know who have become wealthy by investing in savings accounts?” -Robert G Allen

“Greed is all right, by the way. I think greed is healthy. You can be greedy and still feel good about yourself.”-Ivan Boesky

“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

“The policy of being too cautious is the greatest risk of all.” -Jawaharlal Nehru

“I talk about macro themes a lot because they are fun to talk about, but it is the risk management that is the most important thing. The risk control is all bottom-up. I structured the business right from the get-go so that we would have lots of diversification.” -Michael Platt

“Blaming speculators as a response to financial crisis goes back at least to the Greeks. It’s almost always the wrong response.” -Larry Summers