Broad Markets Lift Strongly On Promise Of ‘Uncle Joe’s Stimulus’ This Week

By John F. Heerdink, Jr.

It is amazing how one week in the markets can be so different these days. After last week’s somewhat sobering experience, we received a number of bullish headlines that directed the markets to go up this week. Underlying and then headlining this week’s news flow was ‘Uncle Joe’s or rather President Joe Biden’s $1.9T stimulus package that he quickly put in action on Thursday sneakily beating Friday’s deadline after the House gave their final blessing this week. The economic and market supporting stimulus package includes ~$400B in immediate checks of up to $1,400 for most Americans; $360B for state and local aid; $200B in extended unemployment benefit provisions, extending the $300/week boost to unemployment insurance until September; $165B in aid to schools; +$100B for child tax credits; and
the balance is pushed across pension-plan funding, COVID-19 vaccines/testing, insurance subsidies, child care assistance, restaurant/rental assistance, etc. Basically, it is an amazing amount of money that is being printed that will should solidly propel the markets forward for the time being and hopefully the economy. The downside is that we will need to make this stimulus ‘gift’ work as with it the U.S. federal debt is now approaching $28T and this could be putting the economy and the markets in for a day of reckoning if we do not.

In the meantime, interest rate fears seemed to also subside to some degree this week as the yield curve edged higher on the longer term side. The 2-yr yield fell 1 basis point to end at .14%, the 10-year yield rose 9 basis points to close at 1.64%, & the 30-year yield closed at 2.38% up from 2.299%. The U.S. Dollar Index edged lower from 91.96 last week to close at 91.63 this week.

The highly publicized growth stocks also started moving again which made the over market’s outlook increase as well. In fact, all eleven sectors produced record high weeks for all indices, The little guys on the Russell 200o even shot up a whopping 7.3% to end at 2,352.79 & the index is now up an amazing 19.1% YTD. The Dow ended at 32,778.64 (+4.1% wk/wk) (+7.1% YTD), the Nasdaq Composite closed at 13,319.86 (+3.1%, wk/wk ) (+3.3% YTD) & the the S&P 500 closed at 3,943.34 (+2.6%, wk/wk) (+5% YTD).

THE WEEK’s “MACRO”

The macroeconomic schedule also produced a number of reports as follows this week that showed improvement in many cases. On Monday, the macroeconomic schedule produced the Wholesale Inventories report for January that confirmed a 1.3% rise month/month.
On Tuesday, we received the NFIB Small Business Optimism Index that was confirmed to have risen to 95.8. On Wednesday, we received the Total CPI which confirmed a rise of .4% month/month & the core CPI bumped up .1%. The February Treasury Budget report confirmed a $310.9B deficit. The weekly MBA Mortgage Applications Index dropped 1.3%.
On Thursday, the Initial jobless claims report for the week ending March 6 confirmed a drop by 42k to 712k while continuing claims for the week ending February 27 fell by 193k to 4.144M. The Job openings report showed a rise to 6.917M in January. On Friday, The Producer Price Index report for final demand was confirmed to have move up by .5% month/month in February. The Producer Price Index report for final demand edged up .2% month/month. The preliminary University of Michigan Index of Consumer Sentiment for March moved higher to 83.

Next week, we will receive the Empire State Manufacturing Survey report for March, the Net Long-Term TIC Flows for January, the inflation data report, the initial claims report, & the consumer sentiment report.

TECH HIGHLIGHTS

NVIDIA Corporation (NVDA) closed at $514.24 up from the $498.46 close last Friday.

Peter Thiel co-founded software/data analytics firm Palantir Technologies (PLTR) closed at $23.95/share, -3.15% Friday but up from the $22.90/share close last week.

Leading EV car maker Tesla (TSLA) recovers to close at $693.73 up from the $597.95 close last week.

The much traded and Reddit followed Gamestop (GME) closed at $264.50 up nearly $130 per share from the $137.74 last Friday.

The ever so popular FAANG’s curiously ended relatively flat as follows: Apple (AAPL) shares closed at $121.03 nearly line with last Friday’s close of $121.42, Amazon (AMZN) closed at $3,089.49 up from last Friday’s close of $3,000.46, Alphabet (GOOG) closed at $2,061.92 down from last Friday’s close of $2,108.54, Facebook (FB) closed at $268.40 up from last Friday’s close of $264.28 & Netflix (NFLX) closed at $518.02 slightly up from last Friday’s close of $516.39/share.

On March 10th, shares of a San Mateo-based gaming company that is most popular among children, Roblox Corp., debuted via a direct listing onto the NYSE under the ticker RBLX. Shares started trading at about 1:30 p.m. ET & jumped to an intraday price of $74.83 up from a reference price of $45. The company is now in roughly valued in the $44 billion range. Roblox was reported to have listed ~199M shares Wednesday vs. the 652 million outstanding. Shares ended the week $69.70.

ACROSS THE DOW 30

As per reports, Chevron Corp (CVX) plans to shut down Train 3 at the Gorgon liquefied natural gas plant off Western Australia in the second quarter for weld inspections and maintenance. Problems were discovered in propane kettles in Trains 1 and 2 at the three-train, 15.6 million tonnes a year plant, accounting for nearly 5% of global LNG trade.

Reportedly, The Travelers Companies, Inc. (TRV) has tied up with an innovative technology solution designed by Westhill. Travelers customers filing property claims in select states can now help themselves with Westhill’s digital platform, allowing them to communicate with reputable contractors in their area and choosing the best contractors as per their requirements, and tracking key milestones during the repair process.

The Walt Disney Company’s (DIS) Disney+ streaming program has surpassed 100 million new subscribers, reaching the 9-digit subscriber mark in only 16 months of operations as its users continued to grow during the pandemic. The news was welcomed by Disney CEO Bob Chapek during the company’s annual shareholder meeting this week. The latest growth also marks an increase from the 94.2 million subscribers Disney last reported less than one month ago.

Aerospace giant, Boeing (BA) reported more orders than cancellations in February after 14 months of unrest that included the 737 Max grounding and the pandemic. Boeing managed 82 new orders in February, including 25 Boeing 737 Max jets orders by United Airlines and 14 737 Max planes for an unidentified customer. It recorded 51 cancellations, including Singapore Airlines’ cancellation for 19 787 Dreamliners and an order for 11 777X planes.

McDonald’s Corp (MCD) will not lift dining bans for its McDonald’s Texas and Mississippi restaurants, even after the two U.S. states lifted coronavirus curbs easing businesses to operate at full capacity. The fast-food giant informed that it has no plans to make any changes to its Covid-19 protocols anytime soon. Lastnweek, Texas Governor Greg Abbott and Mississippi Governor Tate Reeves lifted their state’s mask order and lifted all restrictions on businesses.

Merck & Co., Inc. (MRK) stock soared after its Ridgeback Biotherapeutics-partnered Covid-19 treatment known as molnupiravir displayed promising results in an interim analysis of a Phase 2.

BIOTECH

iShares Nasdaq Biotechnology ETF (IBB) closed at $154.75 rebounding ~4 points from last week’s close of $150.15. The NYSE ARCA Biotech Index (^BTK) closed at 5,547.85 up slightly from last week’s close of 5,536.55.

GOLD & SILVER MARKETS

Gold prices closed at $1728 up from the $1,702/oz. close last week. This Friday silver prices closed at $26.01/oz. up from the $25.33/oz. close last Friday.

Recently, Phillips S. Baker, Jr., President, and CEO of Hecla Mining Company (NYSE: HL) ($6.50, +.31%) discussed “The Silver Squeeze” while addressing questions from the Tribe Public where he offered valuable insights on silver prices throughout history and the recent volatility that helped move silver related stocks & silver prices. Please view the event video here now.

First Majestic Silver Corp. (NYSE:AG, $16.82, +2.13%) and Sprott Mining Inc. announced Friday that they have entered into a definitive agreement whereby First Majestic will acquire all of the issued and outstanding common shares of Jerritt Canyon Canada Ltd. from Sprott Mining for $470 million in shares of First Majestic plus 5 million First Majestic share purchase warrants. Concurrent with the Acquisition, Eric Sprott, President of Sprott Mining, will complete a $30 million private placement investment in First Majestic.

TRADING NEXT WEEK

We are back to 5-trading sessions again next week.

VP WATCHLIST UPDATES

Please consider reviewing our complete VP Watchlist here that includes 10 highlighted companies, i.e Apple (AAPL), Disney (DIS), Tesla (TSLA), etc. The pages will allow you to learn more and keep up with these companies daily. Below is an update for five of the smaller companies from the VP Watchlist.

Shares of Chinook Therapeutics (KDNY), a clinical-stage biotechnology company developing precision medicines for kidney diseases, closed at $18.70 up from the $14.84 close from 3 weeks ago. 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.

- On March, Chinook and and Evotec SE announced a strategic collaboration focused on the discovery and development of novel precision medicine therapies for patients with chronic kidney diseases. Based on Evotec’s proprietary comprehensive molecular datasets from thousands of patients across chronic kidney diseases of multiple underlying etiologies, Chinook and Evotec will jointly identify, characterize and validate novel mechanisms and discover precision medicines for PKD, lupus nephritis, IgA nephropathy and other primary glomerular diseases. The collaboration will also involve further characterization of pathways and patient stratification strategies for programs currently in Chinook’s clinical and preclinical pipeline. “We are excited to embark on this strategic collaboration with Evotec, the leading drug discovery alliance and development partner in nephrology,” said Andrew King, D.V.M., Ph.D., Head of Renal Discovery and Translational Medicine at Chinook. “Gaining access to the NURTuRE cohort study and other proprietary patient biobanks, along with Evotec’s multi-omics integration platform, will enable us to define the molecular drivers of kidney diseases, identify novel targets for drug development in selected patient sub-populations and continue to build the foundation for our precision medicine approach. With a focus on comprehensive molecular disease classification, combined with prospective clinical outcomes, Chinook has the opportunity to potentially deliver targeted therapies to the right patient populations.”

- Recently, Chinook announced that the U.S. Food and Drug Administration (FDA) has granted rare pediatric disease designation for CHK-336, an investigational oral small molecule inhibitor of lactate dehydrogenase A (LDHA) for primary hyperoxaluria (PH). PH is a group (PH1, PH2 and PH3) of ultra-rare genetic diseases caused by enzyme mutations that result in excess oxalate production in the liver, and in its most severe forms, can lead to end-stage kidney disease at a young age. Inhibition of LDHA with CHK-336 allows for the potential to treat all forms of PH and other disorders arising from excess oxalate, while its liver-targeted tissue distribution profile enables maximal inhibition of liver oxalate production with minimal systemic exposure. Please read the story here.

- I will be hosting Chinook’s President & CEO Eric Dobmeier at our sister organization Tribe Public’s Presentation and Q&A event, Thursday, April 15th titled “Revolutionizing The Treatment of Kidney Disease.”You can register for FREE today at KDNY.TribePublic.com. 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 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 $93.99/share up from $893.65 last Friday but still shy of its recently achieved a new all-time high of $121.16. On Jan. 8, 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.

- Recently, Fate Therapeutics (FATE) reported business highlights and financial results for the fourth quarter ended December 31, 2020.

- Fate announced that the Company will host a conference call and live audio webcast on Wednesday, February 24, 2021 at 5:00 p.m. ET to report its fourth quarter and full year 2020 financial results and provide a corporate update. Learn more here.

- 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), 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, closed at $2.91 up nicely from the $2.23/share close last Friday and is trading 25.14M shares a day.

- On Thursday, Atossa announced the FDA has issued a “Safe to Proceed” letter under their Expanded Access Pathway, permitting the use of Atossa’s oral Endoxifen as a treatment in an ovarian cancer patient. The patient is being treated at the University of Washington Medical Center by Dr. Barbara Goff, Surgeon-in-Chief. Under the FDA expanded access program, the use of Atossa’s proprietary oral Endoxifen is restricted solely to this patient. Approval from the Institutional Review Board (IRB) must be obtained prior to providing oral Endoxifen to this patient. READ today’s story.

- Recently Atossa announced final results from its Phase 1 double-blinded, randomized, placebo-controlled clinical study using Atossa’s proprietary drug candidate AT-301 administered by nasal spray. AT-301 was considered to be safe and well tolerated in healthy male and female participants in this study at two different dose levels 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. Steven Quay, M.D., Ph.D., Atossa’s President and CEO stated, “The results from this study are very encouraging and we look forward to quickly commencing the next study of AT-301. We recently received input from the FDA on this program and based in part on that input, we are now preparing to conduct an additional pre-clinical study, which we expect to start this quarter. Following that, we expect to apply to the FDA to commence a Phase 2 study here in the United States.” Learn more here.

- Atossa recently announced updated findings following 26 months of Expanded Access (or “compassionate use”) single-patient studies of Atossa’s Endoxifen. “To date, the patient has not had a recurrence of breast cancer, as assessed by clinical breast examination and mammography; has not had treatment-related changes in periodic laboratory blood tests and general clinical examinations; and, the treatment has been well tolerated, including an absence of typical vasomotor symptoms commonly associated with tamoxifen (for example, night sweats and hot flashes), an FDA-approved drug frequently prescribed for breast cancer treatment,” commented Sidney Goldblatt, M.D., Principal Investigator. “This patient, like many breast cancer patients, was reluctant to take tamoxifen because of the well-documented side effects associated with that drug and because she lacked the proper liver enzymes to properly metabolize tamoxifen. We are very encouraged by this patient’s experience with our Endoxifen over the past two years. Her experience serves as a model for ongoing development efforts,” commented Steve Quay, Ph.D., M.D., Atossa’s President and CEO.

- Atossa raised ~$81M in gross proceeds between Dec. 2020 and Jan. 2021 affording the company a significant development runway and many more options to be considering.

- 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.

Shares of INVO Bioscience, Inc. (INVO), 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, closed at $3.38/share last Friday and jumped significantly this week to a intraday and 52-week high of $12.30, prior to closing at $5.23 now with average daily volume of 1.9M shares a day.

- Monday, after the close INVO announced that they has agreed to an amendment of their agreement with Ferring Pharmaceuticals that provides for an increase in the number of INVO company-owned US-based clinics initially allowable under the agreement and removes certain geographical restrictions. The amendment also adjusted the remaining annual 2020 minimum contractual product purchase requirement, whereby Ferring will place a $501,000 order, which will be recognized as revenue by INVO Bioscience in the first quarter of 2021. READ STORY.

- With increased support and flexibility from Ferring I am expecting INVO management to announce 1-2 agreements regarding the opening of INVOcell only US clinics still in Q1 per the CEO’s shareholder letter. PLEASE READ IT HERE.

- Last week, INVO announced the Company has received approval by COFEPRIS to import INVOcell into Mexico. In late 2020, INVO Bioscience established a joint venture focused on establishing fertility centers dedicated to offering INVOcell, with the initial center, called Positib Fertility, to be located in the city of Monterrey, Mexico. Steve Shum, CEO of INVO Bioscience, commented, “We are extremely pleased to have received approval by COFEPRIS to begin importing INVOcell into Mexico. This was a key step in the process to open our first joint venture owned clinic in the large and growing Mexico market for infertility services. Our internal team along with our JV partners have and continue to work aggressively and with a relentless focus to bring the INVOcell treatment option to the many patients in need of care within Mexico.”

- Recently, 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. Please read the story here.

- 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.

Shares of NeuBase Therapeutics (NBSE) closed trading this week at $9.19/share after recently establishing a new all time high of $12.89. Recently, Neubase reported its financial results for the three-month period ended December 31, 2020. Review the story here.

- Oppenheimer’s analyst Hartaj Singh has reiterated his OUTPERFORM Rating and his Price Target of $17.

- NBSE recently 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, 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.

Please review our complete VP Watchlist now that includes 10 highlighted companies. The pages will allow you to learn more and keep up with these companies daily.

QUOTE OF WEEK

“Money is always eager and ready to work for anyone who is ready to employ it.” ― Idowu Koyenikan

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

“Money is always eager and ready to work for anyone who is ready to employ it.” ― Idowu Koyenikan
“The secret to investing is to figure out the value of something – and then pay a lot less.” – Joel Greenblatt
“We don’t have an analytical advantage, we just look in the right place.” – Seth Klarman
“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
“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
“In investing, what is comfortable is rarely profitable.” — Robert Arnott
“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