Stocks Take Another Hawkishly Fed Weekly Hit – $CVX $HZNP $KDNY $XLE Rise!

Happy Saturday All!

I hope you all had a wonderful week and that you have your seat all picked out to watch the 2022 World Cup Final between France and Argentina on Sunday. Since the start I have picked France to win it, however, I have great respect for Lionel Messi and Argentina and hope that the final will prove to be one of the best games ever. Who do you happen to see winning?  

As for the markets this week,  we experienced yet another solidly down move, but at least it did not drop to the degree that was experienced broadly the week before. Having stated this, the last two weeks has been anything, but enjoyable. Fueling the decline and many investors’ somewhat somber mood was our good ole’ Fed Chairman “Uncle Jerry” Power and his Fed clan that held their December FOMC meeting this week. They proceeded to raise interest rates another 50 basis points and the group is  pointing towards a 5-5.50% target rate to accomplish their stated goal of defeating inflation. A number of central banks including the ECB, Hong Kong and the Bank of London followed suit with their own raises and hawkish views. 

The macroeconomic schedule produced another set of reports that unfortunately left many a bit confused if not pessimistic. On Monday, the Treasury Budget report for November came in higher at a $248.5B deficit. On Tuesday, investors were served the consumer-price (CPI) or inflation data report that came in with numbers that were less than expected in November. Indeed for or the 2nd-straight month, inflation pressures moderated more than was anticipated by the experts. Specifically, the CPI for November confirmed a 7.1% rise in prices over last year, lower than the 7.3% that was expected & a .1% rise M/M where it was expected to be up .3%. On Wednesday, the weekly MBA Mortgage Applications Index report showed a 3.2% increase. The import prices report confirmed a .6% drop in November, while export prices cast in lower by.3% in November. The Weekly EIA Crude Oil Inventories report came with a 10.23M barrel build. On Thursday, the November Retail Sales report showed a .6% drop. The Weekly Initial Claims report clocked in lower at 211K, while weekly Continuing Claims came flat at 1.671M. The December Philadelphia Fed Index report came in at lower -13.8 & the December Empire State Manufacturing came in lower at -11.2. The November Industrial Production report came lower at -.2%. The November Capacity Utilization report was lower at 79.7%. The October Business Inventories came in at .3%. The Weekly EIA Natural Gas Inventories report confirmed 50 bcf drawdown. On Friday, the Preliminary December IHS Markit Manufacturing PMI report  came in lower at 46.2, the Preliminary December IHS Markit Services PMI came in nearly 2 points lower at 44.4.

Interestingly, the yield curve pulled back with the 2-yr note yield falling by 16 basis points to close at 4.204% & the 10-yr note yield moving down by 10 basis points to close at at 3.489%.

Oil prices rebounded 4.6% closing at $74.28/bbl.

The US dollar stayed within a tight range again and closed at $104.84, which is just down from the $104.93 level it closed last Friday.  

At the end of the week, the major indices closed significantly lower where growth oriented investments were once again highly  out of favor. The S&P 500 closed at 3,852.36 (-2.1%) for the week and is now down 19.2% YTD. 10 of the 11 sectors closed in the red with the energy sector, which dropped 8.4% last week, rebounded 1.7% to be the lone holdout to close in the green. The consumer discretionary sector off 3.6% and the information tech sector off 2.7% took the hardest hits. The 6.82% weighting of Apple (AAPL) placed some significant pressure once again again this week closing at $134.51 moving down 5.38% over the last 5-days. The Dow 30 closed lower at 32,920.40 (-1.7%) and is down 9.4% YTD. The Nasdaq closed at 10,705.40 (-2.7%) for the week and is down 31.6% YTD. Curiously, the CBOE Volatility Index (^VIX) closed at $22.62, -.92% over the last 5-days and remains up +32.36% YTD. The small caps on the Russell 2000 also got relatively hit and closed at 1,763.42 (-1.9%) & is now down 21.5% YTD. The MicroCaps joined the off week as the iShares Micro-Cap ETF (IWC) closed at $106.59, down 1.87% over the last 5-days and is now down 23.72% YTD. Once, again, tax swap and/or loss selling also added to the overall pressure and hopefully is setting us for one heck of a January Effect trade. The January effect is a hypothesis that there is a seasonal anomaly in the financial market where securities’ prices increase in the month of January more than in any other month. This calendar effect would create an opportunity for investors to buy stocks for lower prices before January and sell them after their value increases. 

BIOTECH AND HEALTHCARE

Biotech stocks fell overall this week, but recently the sector has seen significant mergers, acquisition and public deals, traditionally good signs that the situation getting ‘cleaned up’ in this recently beaten down sector. i.e. this week, Amgen’s (AMGN) announcement surfaced that it is set to acquire rare disease drugmaker Horizon Therapeutics Plc (HZNP, +16.02% over the last 5-days) for $26.4B. Amgen will pay $116.50 in cash for each Horizon share held, or a premium of nearly 20% to the stock’s last close. The offer values Horizon at $28.3 billion, including debt. The deal will add several approved drugs to the company’s portfolio including Krystexxa used for the treatment of gout that is not controlled by other medicines. The acquisition is expected to help Amgen counter the impact of rising competition for its top-selling arthritis drug, Enbrel.

The Nasdaq Biotechnology ETF (IBB) moved down and closed at $133.01, -3.92% over the last 5-days & is down 12.85 YTD. The NYSE ARCA Biotech Index (^BTK) closed at 5,219.13, -3.96% over the last 5-days and is now down 5.42% YTD. The SPDR S&P Biotech ETF (XBI) closed at $79.53, -7.16% over the last 5-days & is now down 28.97% YTD. The 52-week range is is now $61.78-$119.21.

The iShares U.S. Healthcare ETF (IYH) closed at $287.08, -1.41% over the last 5-days and is down -4.42% YTD.

EV, TECH, CONSUMER, FINANCIALS

Apple (AAPL) closed at $134.51, -5.38% over the last 5-days, nearly 10% over the last two weeks. Apple represents a 6.82% weighting in the S&P 500. According to Bloomberg, Foxconn Technology Group, the primary assembler of iPhones for Apple Inc., is reportedly easing most anti-Covid restrictions at its factory in Zhengzhou, China.

EV giant Tesla (TSLA) closed at $150.23, -16.10% over the last 5-days and nearly 25% over the last two weeks. Tesla’s CEO Elon Musk sold 22 million shares for $3.6 billion on Dec. 14. Also, a group of Cathie Wood, of Ark Investment Management bought more shares of Tesla as it has continued to dip.

On Dec. 1, Tesla revealed its Semi, a 18-wheeler long-haul electric freight hauler, which the first will roll out to PepsiCo. (PEP). The Semi has a 500-mile range while hauling 82k pounds of freight according to Tesla. 

 

 

Shares of ADT Inc. (ADT), the most trusted brand in smart home and small business security, closed at $9.13, -5.29% over the last 5-days, but established a new 52-wk high at $9.98 along the way. On Nov. 3, ADT, announced its results for the third quarter of 2022. They highlighted Total revenue of $1.6 billion, up 22% or 8% excluding Solar, and end-of-period Recurring Monthly Revenue (RMR) of $372 million, up 4%, Record high customer retention with gross customer revenue attrition at 12.6%, Record revenue payback of 2.1 years, & GAAP net loss of $122 million, or a loss of $(0.13) per diluted share, down $13 million. The board of ADT announced that it will pay a dividend of $.035.share on the 4th of January or 1.6% yield.

 

On Oct. 13, ADT, announced that it has issued and sold in a private placement to State Farm 133.3 million shares of ADT common stock for a gross purchase price of $1.2 billion. In September, ADT announced a new partnership with State Farm to revolutionize the homeownership experience through innovation in the detection and mitigation of property losses. In addition to the equity investment, State Farm has committed up to $300 million to fund product and technology innovation, customer growth and marketing activities in connection with the partnership. State Farm has funded the first $100 million and the two companies will collaborate to approve initiatives utilizing the funds.

Shares of JPMorgan (JPM) closed at $129.29, -2.17% over the last 5-days. On December 13, the Board of Directors of JPMorgan declared a quarterly dividend of $1.00 per share on the outstanding shares of the common stock of JPMorgan Chase. The dividend is payable on January 31, 2023, to stockholders of record at the close of business on January 6, 2023.

Shares of Amazon.com, Inc. (AMZN) closed $87.86,-1.38% over the last 5-days.  On December 15, Amazon Games and Crystal Dynamics announced they have reached an agreement under which Crystal Dynamics will develop a new multi-platform Tomb Raider title, with Amazon Games providing full support and publishing the game globally. The as-yet-untitled new Tomb Raider game is a single-player, narrative-driven adventure that continues Lara Croft’s story in the Tomb Raider series. It includes all the elements that have made Tomb Raider one of the most revered franchises in gaming, giving players control of the confident and multidimensional hero Lara Croft in an environment that rewards exploration and creative pathfinding, with mind-bending puzzles to solve, and a wide variety of enemies to face and overcome. Crystal Dynamics is drawing on the power and cutting-edge technology of Unreal Engine 5 to take storytelling to the next level, in the biggest, most expansive Tomb Raider game to date. The title is currently in early development, and additional details will be announced at a later date.

Shares of Microsoft Corp. (MSFT) closed at $244.69,-.30% over the last 5-days. On Dec. 14, Microsoft Corp. and Viasat (NASDAQ: VSAT) announced a new partnership to help deliver internet access to 10 million people around the globe, including 5 million across Africa. Viasat, a global communications company, is the first satellite partner to work with Microsoft’s Airband Initiative, and together they will deepen Airband’s work in the Democratic Republic of the Congo, Nigeria, Guatemala, Mexico, and the United States, as well as prioritize expanding the program to Egypt, Senegal and Angola to deliver much-needed internet connection, often for the first time. This first of its kind global partnership for Airband is an important step in reaching the Initiative’s expanded goal of delivering internet access to a quarter of a billion people across the world, including 100 million people on the continent of Africa, by the end of 2025.

Shares of Salesforce, Inc. (CRM) closed at $128.27, -2.17% over the last five days. On Dec. 8, Salesforce announced that Genie Customer Data Cloud, the #1 CRM data cloud, is now powered by Tableau, helping businesses better understand and unlock customer data and deliver actionable insights in real time and at scale. Now, any company can analyze billions of data points stored and harmonized in Genie using Tableau, and then visualize, explore, and automate insights and take action securely. In addition, because Genie is natively integrated with Tableau, businesses can drive down data warehousing costs, increase time to insight, and enable better decision making by bringing all their data and analytics together in one place. Genie Customer Data Cloud now processes more than 100 billion customer records on average daily across the entire Salesforce Customer 360, enabling every company to use data and become a customer company by saving time and money while growing revenue.

Shares of NVIDIA (NVDA), a pioneer in accelerated computing, closed at $165.71, -2.53% over the last 5-days. On Dec. 7,  KULR Technology Group, Inc. ( KULR), a leading energy management platform company accelerating the global transition to a sustainable electrification economy, announced that it will be expanding its vibration reduction solution KULR VIBE offering with the launch of a scalable, centralized artificial intelligence (“AI”) server platform. Powered by NVIDIA accelerators, the updated KULR VIBE system will deliver faster processing speeds and data capture for remote access.

Cathie Wood’s ARK Innovation ETF (ARKK) closed at $33.26, -4.01% over the last 5-days. Cathie Wood along with a group of funds of Ark Investment Management bought more shares of Tesla as it has continued to dip.

The Technology Select Sector SPDR Fund (XLK) closed at $127.48, -2.62% over the last 5-days. 

Shares of McDonald’s (MCD) closed at $266.12, -2.18% over the last 5-days. On December 27, McDonald’s Corporation and all five members of the restaurant chain’s North American Logistics Council (NALC) – Armada, Earp Distribution, Martin Brower, Mile Hi Foods and The Anderson-DuBose Company – have signed agreements with Enel North America to purchase renewable energy and the associated renewable energy certificates (RECs) from Enel Green Power’s Blue Jay solar project in Grimes County, Texas. This innovative aggregation of a major company purchasing power jointly with its logistics partners means the electricity load of McDonald’s USA’s entire logistics supply chain for all its U.S. restaurants is expected to be 100% supported by renewable energy. The Blue Jay solar project is expected to be fully operational in 2023. Once complete, McDonald’s and its suppliers’ combined electricity purchase is expected to amount to an estimated average of over 470,000 megawatt hours (MWh) of renewable energy annually. This is equivalent to avoiding over 170,000 metric tons of carbon emissions annually or the greenhouse gas (GHG) emissions from over 80 million trucking miles driven each year.

GOLD & SILVER

Gold prices closed at $1800/oz., -$4/oz. & silver prices closed at $23.35/oz., -$.20/oz. for the week.

Hecla Mining (HL) closed at $5.30,-4.50% over the last 5-days & First Majestic (AG) closed at $8.571, -3.82% over the last 5-days. 

MEMES CENTRAL

AMC Entertainment (AMC) closed at $5.31, -10.61% & (APE) closed at $.7297, -5.23% over the last 5-days. On Dec. 14, AMC Theatres, announced it will launch the AMC Entertainment Visa Card – the only co-branded movie theatre credit card in the United States. In partnership with Visa (V), a world leader in digital payments, and Deserve, a modern credit card technology platform, the AMC Entertainment Visa Card is expected to be available in early 2023.

GameStop (GME) closed at $20.80, -8.09% over the last 5-days as the shorts won solidly overall this week. Note that approx. 20% of GME’s outstanding shares are sold short landing it with a short interest ratio of 7.6. On Dec. 7, GME released financial results for the third quarter ended October 29, 2022 highlighting that Net sales were $1.186 billion, compared to $1.297 billion in the prior year’s third quarter & that Sales attributable to new and expanded brand relationships were strong in the quarter, while sales in the collectibles category remained strong on a year-to-date basis.

Seanergy Maritime Holdings Corp. (SHIP) closed at $.5101, -1.90% over the last 5-days. On Dec. 9, Seanergy announced the filing of an amendment to its Schedule TO and Offer to Purchase (the “Amendment”), both dated as of November 30, 2022, relating to the Company’s tender offer to purchase all outstanding Class E common stock purchase warrants (the “Warrants”) at a purchase price of $0.20 per Warrant, which tender offer will expire at the end of day, 5:00 P.M., Eastern Time, on January 10, 2023, unless extended or withdrawn. The Company has filed the Amendment on Schedule TO and the Amendment may be accessed from the Securities and Exchange Commission’s website at www.sec.gov.

On Nov. 30 after the close, SHIP announced its financial results for the third quarter and nine months ended September 30, 2022. The Company also declared a quarterly dividend of $0.025 per share for the third quarter of 2022.

CRYPTO & BITCOIN

Bitcoin (BTC) closed at $16,629.15, -3.36% over the last 5-days at the time this report was prepared. 

ENERGY

The Energy Select Sector SPDR Fund or ETF (XLE) closed at $84.36, +2.03% over the last 5-days. Chevron (CVX) closed at $168.72, +.43% over the last 5-days. On Dec. 14, Chevron Corporation, through its Chevron New Energies business, and Baseload Capital have announced a joint venture to develop geothermal projects in the United States. The two companies will collaborate on driving geothermal opportunities – including identifying the best prospects for development, operations and progressing the next generation of geothermal technologies from pilot to commercial scale. Through this agreement, Chevron and Baseload Capital will work together to create awareness around geothermal energy which will be a critical supply option for renewable energy. Warren Buffet’s pick in the sector, Occidental Petroleum (OXY) closed at $62.60, -8.22% over the last 5-days.

Oil prices closed on Friday to end at $74.28/bbl and up 4.6% this week, leaving oil down 1.2% for the year.

NEXT WEEK

A full 5-days of trading will occur as we swiftly head towards Christmas on Sunday, Dec. 25th. Note the markets will be closed on Monday, December 26 to observe the Christmas holiday this year. 

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 $1.78.

• 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. “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
2. “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
3. “No man was ever wise by chance.” – Lucius Annaeus Seneca
4. “Progress is man’s ability to complicate simplicity.” – Thor Heyerdahl
5. “It is not in the stars to hold our destiny but in ourselves.” – William Shakespeare

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

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

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

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

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

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

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

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

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

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

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

19. “Without labor nothing prospers.” – Sophocles

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

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

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

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

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

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

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

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

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

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

30. “A hero is someone who understands the responsibility that comes with his freedom.” – Bob Dylan
31. “Inflation destroys savings, impedes planning, and discourages investment. That means less productivity and a lower standard of living.” – Kevin Brady
32. “If we give something positive to others, it will return to us. If we give negative, that negativity will be returned.” – Allu Arjun
33. “A good plan violently executed now is better than a perfect plan executed next week.” ~ George S. Patton
34. “You must do the things you think you cannot do.”- Eleanor Roosevelt
35. “Success is dependent on effort.” – Sophocles
36. “Nobody who ever gave his best regretted it.” – George Halas
37. “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
38. “And when I breathed, my breath was lightning.” – Black Elk
39. “Moderation is the silken string running through the pearl chain of all virtues.” – Joseph Hall
40. “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
41. “If you want a guarantee, buy a toaster.” – Clint Eastwood
42. “We are an impossibility in an impossible universe.” – Ray Bradbury
43. “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
44. “I’d rather attempt to do something great and fail than to attempt to do nothing and succeed.” – Robert H. Schuller
45. “Do your little bit of good where you are; it’s those little bits of good put together that overwhelm the world.” Desmond Tutu
46. “It takes considerable knowledge just to realize the extent of your own ignorance.” – Thomas Sowell
47. “Do not dwell in the past, do not dream of the future, concentrate the mind on the present moment.” – Buddha”
48. Surprise is the greatest gift which life can grant us.” –  Boris Pasternak
49. “Trust in dreams, for in them is hidden the gate to eternity.” – Khalil Gibran 
50. “Always be yourself, express yourself, have faith in yourself, do not go out and look for a successful personality and duplicate it.” – Bruce Lee
51. “All life is an experiment. The more experiments you make the better.” – Ralph Waldo Emerson
52. “There are no secrets to success. It is the result of preparation, hard work, and learning from failure.” –  Colin Powell
53. “There is more to life than increasing its speed.” – Mahatma Gandhi
54. “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
55. “Definiteness of purpose is the starting point of all achievement.” – W. Clement Stone
56. “Success usually comes to those who are too busy to be looking for it.” – Henry David Thoreau
57. “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
58. “Life is too short for long-term grudges.” – Elon Musk
59. “There cannot be a crisis next week. My schedule is already full.” – Henry Kissinger
60. “Success consists of getting up just one more time than you fall.” – Oliver Goldsmith
61. “The Earth is the cradle of humanity, but mankind cannot stay in the cradle forever.” – Konstantin Tsiolkovsky
62. “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
63. “Beauty surrounds us, but usually we need to be walking in a garden to know it.” – Rumi
64. “But man is not made for defeat. A man can be destroyed but not defeated.” – Ernest Hemingway
65. “Don’t watch the clock; do what it does. Keep going.” – Sam Levenson
66. “Let there be work, bread, water and salt for all.” – Nelson Mandela
67. “The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future.” – John Maynard Keynes
68. “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
69. “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
70. “It is the fight alone that pleases us, not the victory.” – Blaise Pascal
71. “If you can’t describe what you are doing as a process, you don’t know what you’re doing.” – W. Edwards Deming
72. “Never interrupt your enemy when he is making a mistake.” – Napoleon Bonaparte
73. “Be sure you put your feet in the right place, then stand firm.” – Abraham Lincoln
74. “Without investment there will not be growth, and without growth there will not be employment.” – Muhtar Kent
75. “You have to do your own growing no matter how tall your grandfather was.” – Abraham Lincoln
76. “Victory has a thousand fathers, but defeat is an orphan.” – John F. Kennedy
77. “Delete the negative; accentuate the positive!” – Donna Karan
78. “It’s crazy how fast time flies and how things progress.” – Nathan Chen
79. “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
80. “Life isn’t about finding yourself. Life is about creating yourself.” – George Bernard Shaw
81. “Everything has beauty, but not everyone sees it.” – Confucius
82. “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
83. “Walking with a friend in the dark is better than walking alone in the light.” – Helen Keller
84. “A man who dares to waste one hour of time has not discovered the value of life.” – Charles Darwin
85. “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
86. “Progress is man’s ability to complicate simplicity.” – Thor Heyerdahl
87. “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
88. “Nothing is impossible, the word itself says ‘I’m possible’!” – Audrey Hepburn
89. “But investment in space stimulates society, it stimulates it economically, it stimulates it intellectually, and it gives us all passion.” – Bill Nye
90. “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
91. “Life is a tragedy when seen in close-up, but a comedy in long-shot.” – Charlie Chaplin
92. “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
93. “Infrastructure investment in science is an investment in jobs, in health, in economic growth and environmental solutions.” – Oren Etzioni
94. “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
95. “Know thy self, know thy enemy. A thousand battles, a thousand victories.” – Sun Tzu
96. “If one does not know to which port one is sailing, no wind is favorable.” – Lucius Annaeus Seneca
97. “Beware of missing chances; otherwise it may be altogether too late some day.” – Franz Liszt
98. “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
99. “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
100. “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
101. “There is little that can withstand a man who can conquer himself.” – Louis XIV
102. “In tennis, you strike a ball just after the rebound for the fastest return. It’s the same with investment.” – Masayoshi Son
103. “A camel makes an elephant feel like a jet plane.” – Jackie Kennedy
104. “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
105. “Success depends upon previous preparation, and without such preparation there is sure to be failure.” – Confucius, Chinese 
106. “Coming together is a beginning; keeping together is progress; working together is success.” – Edward Everett Hale
107. “Never do anything against conscience even if the state demands it.”– Albert Einstein
108. “Education is not only a ladder of opportunity, but it is also an investment in our future.” – Ed Markey
109. “The true measure of a man is how he treats someone who can do him absolutely no good.” – Samuel Johnson
110. “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
111. “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
112. “The best preparation for tomorrow is doing your best today.” – H. Jackson Brown, Jr.
113. “Friendship marks a life even more deeply than love. Love risks degenerating into obsession, friendship is never anything but sharing.” – Elie Wiesel
114. “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
115. “Success isn’t measured by money or power or social rank. Success is measured by your discipline and inner peace.” – Mike Ditka
116. “No matter how many goals you have achieved, you must set your sights on a higher one.” – Jessica Savitch 
117. “Start where you are. Use what you have. Do what you can.”– Arthur Ashe
118. “The secret of getting ahead is getting started.” – Mark Twain
119. “The amount of work and the amount of both physical and emotional investment it takes to get to the top.” – Drew Bledsoe