Markets Turn A Little ‘Chilly’ This Week, But $FATE $FORG $MDB $SHIP $TSLA Heat It Up!

Happy Saturday All!

I hope that you had a great week and that your weekend is going well too. As for the markets, it was an overall down week again feeling a bit chilly at times. However, we also found some hot spots in the form of IPOs & positive moves in the biotech, energy, & shipping stocks. The indices closed as follows: the S&P 500 closed at 4,432.99 (-.6%) & below its 50-day moving average of 4,436, but remains up 18% YTD, the Dow 30 closed at 34,607.72 (-2.2%) & remains up 13.1% YTD, & the Nasdaq closed at 15,115.49 (-1.6%) & remains up 17.3% YTD. The small caps on the Russell 2000 were also a bright spot closing at 2,236.87 (+.4%) & is now up 13.3% YTD. However, the MicroCaps moved lower again this week as the iShares Micro-Cap ETF (IWC) closed at $145.36 (-.64%), but remains up a healthy 22.51% YTD.

9 of the 11 sectors also ended in the red, which was a little better than the 11 for 11 hit that we took last week. The cyclicals, except for the energy that rose 3.3% (oil prices moved equally north by  3.3% to $71.99/bbl), took the brunt of the hit as the materials fell 3.2%, the utilities fell 3.1%, the industrials dropped 1.6%, & the communication services dropped 1.2%. 

MACRO REPORTS – YIELDS 

Many more macroeconomic reports surfaced again this week leaving a bit of a mixed picture once again. Keep in mind that core inflation, still relatively high, has eased to 4%, a good sign for the markets as it lines up with the Fed’s position that it is transitory and thus they will allow their monetary-policies to stay accommodative. This week on Monday, the macroeconomic schedule delivered the Treasury Budget report for August, which confirmed a $170.64B deficit in August, while the fiscal YTD budget deficit is $2.71T. On Tuesday, the Total CPI report which confirmed a less than expected rise of .3% M/M & core CPI only moved up .1%, while total CPI ticked lower as well and is now up 5.3%. The NFIB Small Business Optimism Index report showed a rise to 100.1 in August. On Wednesday, the total industrial production report confirmed a better than expected rise by .4% in August, while the capacity utilization rate rose to 76.4%. The Empire State Manufacturing Survey also confirmed rise to 34.3 in September. Import prices also fell .3% in August & export prices moved up .4%. The weekly MBA Mortgage Applications Index rose .3%. On Thursday, the total retail sales report showed a rise by .7% M/M. The initial claims report for the week ending September 11 confirmed a rise by 20k to 332k, while continuing claims for the week ending September 4 fell by 187k to 2.665M. The Philadelphia Fed Index report for September showed an upward move to 30.7. The business inventories report showed a rise by .5% M/M in July. On Friday, the preliminary September reading for the University of Michigan Index of Consumer Sentiment report confirmed a rise to 71.

The yield curve widened lightly again this week. The 10-yr yield ended up 3 basis points wk/wk to close at 1.37%, while the 2-yr ticked up 2 basis points wk/wk closing at .23%. The U.S. Dollar Index moved higher from 92.62 to close at 93.21.

Next week, the macroeconomic schedule will serve the the NAHB Housing Market Index for September report on Monday & the Housing Starts report, the PMI composite report, & the Fed Funds Target upper bound report over the course of the week.

CORPORATE EARNINGS

Note that, according to Bloomberg, corporate profits rose by 92% Y/Y in Q2 and are now expected to grow by 22% for the full year of 2021,. In addition, they are also expected move up another 9% in ’22, so do not begin the pity party too early as this bull market seems to still have legs even though we may see increased volatility in the near term.   

STORIES YOU MAY HAVE MISSED

Walmart To Begin Testing Autonomous Vehicle Delivery Service In 3 Cities

Goldman Acquiring Fintech Firm GreenSky For $2.24B

Expects Revenue Coming From Subscriptions To Increase To 50%

Caterpillar CEO Reveals Shortage of Suppliers’ Workers Increasing Supply-Chain Delays

YIKES! – Walgreens COVID-19 Test Registration System Reportedly Exposed Data 

FAANG MOVES

The FAANG’s prices moved south across the board weekly as follows: Apple (AAPL) closed at $146.06, -1.95%, Amazon (AMZN) closed at $3,462.52, -.19% for the week, Alphabet (GOOG) closed at $2,829.28, -.32% for the week, Facebook (FB) closed at $364.72, -3.69% this week & Netflix (NFLX) closed at $589.35/share, -1.57%. The MicroSectors FANG+ Index 3X Leveraged ETN (FNGU), which offers 3x leveraged exposure to an index of “FANG” companies, and other companies that exhibit similar characteristics, closed at $37.40, -3.16% for the week.

EV- TECH -CHIPS

Leading EV car maker Tesla (TSLA) moved higher to close at $759.49, +3.15% & shares of Ford Motor Co. (F) closed at $13.55, +6.86% for the week.

Microsoft (MSFT) closed at $299.87, +1.41% for the week after recently recording a new record high of $305.84.

Chip making giant NVIDIA Corporation closed $219, -2.57% for the week after establishing a new record high of $230.43. last week. I recommend that you watch the video titled “5 reasons the world is running out of Chips” that I have included in this weeks videos at the end of this newsletter.

MongoDB, Inc. (NASDAQ: MDB), the leading, modern general purpose database platform last week reported Q2 Fiscal 2022 report and recorded Total Revenue of $199 million, up 44% Year-over-Year & Continued Strong Customer Growth with Over 29,000 Customers as of July 31, 2021 last week. Shares of MDB closed at $506.99, adding +3.72% to the weekly total of +21.7% last week.

Cathie Wood’s ARK Innovation ETF (ARKK) closed at $121.50, +.86% for the week.

The Technology Select Sector SPDR Fund (XLK) closed at $155.48, -.73% for the week.

ADT, Inc, (ADT) closed at $8.30, +2.34% for the week. Hopefully Google’s (GOOG) partner is beginning to regain some form. ADT Inc., the most trusted brand in smart home and small business security, announced this week that Jim DeVries, ADT’s President and Chief Executive Officer, will participate in the Goldman Sachs 30th Annual Communacopia Conference on Thursday, Sept. 23, 2021. DeVries will participate in a fireside chat, which will begin at approximately 11:20 AM EDT. A live webcast of the virtual event, as well as a replay following the presentation, will be available through the ADT investor relations website at investor.adt.com.

Affirm (AFRM), a payment network that ’empowers’ consumers and helps merchants drive growth, closed at $116.28, 0ff 6% this week after last Friday’s +34.4% pop when they beat Wall Street’s expectations and issued upwards guidance on their top line.

IPOS

ForgeRock, Inc. (NYSE: FORG), a global identity leader, Thursday announced the pricing of its initial public offering of 11m shares of its Class A common stock at a price to the public of $25.00 per share. Shares soared to close at $36.50 up 46% in its first day of trading & then legged up to close at $47.15 on Friday up another +29.18%. In addition, ForgeRock has granted the underwriters a 30-day option to purchase up to an additional 1,650,000 shares of Class A common stock at the initial public offering price, less underwriting discounts and commissions. Morgan Stanley and J.P. Morgan are acting as lead book-running managers for the offering. Deutsche Bank Securities, Mizuho Securities, and HSBC are acting as joint book-running managers for the offering. BTIG, Cowen, Piper Sandler, Truist Securities, and William Blair are acting as co-managers for the offering.

On Wednesday, we saw a pair of high flying IPO’s as Private equity firm TSG-backed Dutch Bros Inc priced its initial public offering (IPO) above its target range, valuing the company at about $3.8 billion. Dutch Bros, founded in 1992 by brothers Dane and Travis Boersma in Oregon, had opened its first franchise in 2000 and now has 470 drive-thru coffee locations in 11 states. The coffee chain sold 21.1 million shares at $23 each, above the $18 to $20 per share range set earlier, to raise about $484 million in the IPO. Shares of Dutch Bros traded on the NYSE today under the ticker BROS reaching a high of $40.10 prior to closing at $36.68, +59.48% on the first day, but closed at $43.55, -9.27% on Friday. 

Zurich-based running shoemaker On Holding AG, with legendary tennis pro Roger Federer as an investor, also sold their IPO shares at $24 on NYSE under the symbol ONON.  They raised $746M via Goldman Sachs Group Inc., Morgan Stanley, JPMorgan Chase & Co., Allen & Co. LLC, UBS Group AG and Credit Suisse Group AG. Shares closed at $35 up a whopping 45.83% on the first day of trading prior to moving up further to close at $38.95 on Friday. 

DISNEY

Disney (DIS) closed at $183.47, -.35% for the week. Recently, DIS reported a better than expected Q3 earnings report. Disney is now moving content from its streaming service Hotstar to its ESPN+ and Hulu streaming platforms in the United States. Disney, with 174 million paying customers across its four streaming services, is slowly consolidating its content into a Disney Bundle, which will include ESPN+, Hulu, Disney+ and more than 100,000 movies, TV episodes as well as sports events. Sports content from Hotstar will move to ESPN+, and Hotstar movies, as well as TV shows, will migrate to Hulu. The Disney Bundle, which starts at $13.99 per month, will cost subscribers at least $167.88 for a year. Disney’s streaming users growth (Disney+) blasted through expectations checking in with 116M vs. the 113.1M. People cannot seem to do without their Star Wars and Marvel related content.

BIOTECH SLIDES

The Nasdaq Biotechnology ETF (IBB) closed at $173.61, .22% for the week, & up 14.60% YTD, the NYSE ARCA Biotech Index (^BTK) closed at 5,954.70, +1.24% for the week and up +3.76% YTD, & the SPDR S&P Biotech ETF (XBI) closed at $132.88, +.88% for the week & is still down 5.61% for the year. The XBI’s 52-wk range is $100.64-$174.79.

GOLD & SILVER DOWN

Gold prices closed at $1,755, down $45 ($85 in 2-weeks) from the $1,790 close last week & silver prices closed lower at $22.41/oz., down $1.39 ($2.36 in 2-weeks)from the $23.78/oz. close last Friday. Hecla Mining Company (NYSE: HL) closed $5.58, -7.77% for the week. 

MEMES REPORT

AMC Entertainment (AMC), closed at $44.20, -11.88% for the week. This week, the CEO of AMC tweeted “Cryptocurrency enthusiasts: you likely know @AMCTheatres has announced we will accept Bitcoin for online ticket and concession payments by year-end 2021. I can confirm today that when we do so, we also expect that we similarly will accept Ethereum, Litecoin and Bitcoin Cash.”

GameStop (GME) closed at $204.97, +7.65% for the week. According to MarketWatch, “Massachusetts regulators are fining MassMutual $4 million and ordering it to overhaul its social-media policies after accusing the company of failing to supervise an employee whose online cheerleading of GameStop’s stock helped launch the frenzy that shook Wall Street earlier this year.” GME also released their financial results for the second quarter ended July 31, 2021 last week. They generated their net sales of $1.183 billion, compared to $942 million in the prior year’s second quarter & ended the period with cash and restricted cash of $1.78 billion, ended the period with no long-term debt, other than a $47.5 million low-interest loan associated with the French government’s pandemic response & invested in long-term growth initiatives that include expanding the Company’s product catalog, enhancing its fulfillment network capabilities and technology, and adding talent across the organization.

Virgin Galactic Holdings (SPCE) closed at $26.42, +5.01% regaining a little mojo but a far cry from the recent all-time high of $62.80. 7 days ago, SPCE, a vertically integrated aerospace and space travel company, today announced an update regarding the timing of its next test flight “Unity 23” with the Italian Air Force. During preparation for the Unity 23 test flight, a third-party supplier recently flagged a potential manufacturing defect in a component of the flight control actuation system that they supply to Virgin Galactic. At this point, it is not yet known whether the defect is present in the Company’s vehicles and what, if any, repair work may be needed. Out of an abundance of caution, and in line with Virgin Galactic’s established safety procedures, the Company is in the process of conducting inspections in partnership with the vendor.This issue is unrelated to the Unity 22 flight or the current FAA matter, which is focused on air traffic control clearance and communications.As a result, and pending resolution of the FAA matter, the earliest the Company expects to open its flight window for Unity 23 is mid October. A further update and specific flight window will be shared once the inspection is complete, in coordination with the Italian Air Force.Michael Colglazier, Chief Executive Officer of Virgin Galactic, said: “We have a robust pre-flight readiness approach that is rooted in our thorough, proactive and safety-first culture. There is nothing more important to us than the integrity of our vehicles. Our test flight processes and procedures are rigorous and structured to identify and resolve these types of issues. We look forward to taking to the skies again soon.”

Infamous ‘meme brokerage’ firm Robinhood Markets, Inc., (HOOD) moved higher this week closing at $42.38, +2.94% for the week.

Seanergy Maritime Holdings Corp. (SHIP) closed at $1.49, +19.20% this week. The ‘only pure-play Capesize ship-owner publicly listed in the US’, announced recently that its Board of Directors has authorized a share repurchase plan. Under the Plan, the Company may repurchase up to $17 million of its outstanding common shares, representing approximately 10% of the Company’s market capitalization as of August 10, 2021. Capsize rates continue to surge which should bold for them! I met with management this week via HCW conference and came away quite impressed with their current position. 

Bitcoin

Bitcoin $BTC.X moved higher closing at 47,444.25, +5.52% over the week.

NEXT WEEK

The markets will have 5 full trading sessions again next week.

VP WATCHLIST UPDATES

Please review our complete VP Watchlist that includes Apple (AAPL), Disney (DIS), Tesla (TSLA) & a select group of emerging names.  The pages will allow you to learn more and keep up with these companies daily.

For now, please see the updates from five of the emerging companies from the VP Watchlist below:

• 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 $3.53.

• • On September 9th, INVO Bioscience announced that it has completed the acquisition of a Canadian-based entity that was originally formed to offer INVOcell in Canada. The entity had previously completed a number of important procedures and documentation necessary to establish INVOcell within clinical operations in Canada. INVO Bioscience anticipates leveraging this entity to advance the distribution of INVOcell, and take advantage of the existing product registration which approved the device for sale based on 5-day incubation in the Canadian market. In addition, the Company is initiating the development of joint ventures to establish INVO Centers within the Canadian marketplace, similar to U.S. and Mexico markets, to further drive accelerated adoption of the INVOcell solution while also increasing much needed capacity and patient access within the fertility industry. Steve Shum, CEO of INVO Bioscience, commented, “We believe Canada offers an excellent opportunity to further expand our distribution efforts of INVOcell while also advancing our joint-venture based INVO Center model. With roughly 16% (or 1 in 6) couples in Canada experiencing infertility, a number that has doubled since the 1980s, and with a popultion of 37.74 million, Canada represents a sizable market opportunity. Canada also faces similar issues that hamper other parts of the world, including a large underserved population, access/capacity constraints and affordability challenges. We appreciate the key individuals in Canada that originally created this entity to help promote and bring our INVOcell technology into the marketplace and look forward to bringing greater resources to advance this effort. We anticipate this acquisition will serve as a platform to help accelerate building INVOcell’s presence in Canada.”

  • On September 7th,  INVO Bioscience announced that it has officially opened the Company’s 2nd INVO Center in the United States, based in Atlanta, Georgia after recently opening their first in Birmingham, AL called “Innovative Fertility Specialists, An INVO Center” on August 9th. INVO Centers are further scheduled this year to open in Monterrey, Mexico & the San Francisco Bay Area. This new joint-venture, named “Bloom Fertility, an INVO Center,” will focus on patients in need of advanced fertility care utilizing the efficient, effective, and affordable INVOcell solution. READ THE COMPLETE STORY. 

  • On Sept. 3, INVO Bioscience announced that Dr. Inger Britt Carlsson will be presenting at the Association for Fertility and Reproductive Health (AFRH) virtual conference this year on September 23rd and 24th on the topic of INVOcell® as an efficient, patient-centric and affordable fertility solution for the continent of Africa. “Across the African continent, infertility is on the rise, with an average infertility rate of 10.1% and as high as 32% in some countries. Infertility comes with devastating social, cultural, emotional and economic consequences for young couples in Africa.Unfortunately, accessing basic assisted reproductive technology treatments can be challenging or impossible for couples who have issues conceiving. The INVOcell solution is a low-cost and effective fertility treatment option that can be the answer to this burgeoning dilemma,” said Dr. Carlsson.

  • On August 16th, INVO announced their financial and operating results for the second quarter ended June 30, 2021 and provided a business update. Steve Shum , CEO of INVO stated. “Our team made excellent progress during the second quarter of 2021 toward our key objectives, headlined by last week’s official opening of our first INVO Center practice in Birmingham, AlabamaWe feel INVO is now well positioned for success based on the following core foundational elements developed over the past 2 years. We believe there is a substantial underserved patient population with infertility challenges and a real need to expand access to treatment. In our opinion, this is a multi-billion-dollar market expansion opportunity, and INVOcell is well positioned to address the unmet medical need.”

• • On July 14th, INVO announced the appointment of world renowned women’s health expert, Dr. Barbara Levy, M.D., FACOG, FACS as the Company’s Senior VP, Global Clinical Integration to accelerate affordable infertility treatment INVOcell’s Global OB/GYN Clinical Integration Strategy. Dr. Levy is considered one of the most influential clinical executives in the world, recently serving as Vice President, Health Policy at the American College of Obstetricians and Gynecologists (ACOG) and chair of the American Medical Association/Specialty Society Relative Value Scale Update Committee. She joins INVO Bioscience to help further develop and accelerate the Company’s global OB/GYN channel strategy. Steve Shum, CEO of INVO Bioscience, said, “We are excited to have Dr. Levy join the INVO team to support our mission to bring care to the vast underserved patient population around the world experiencing infertility challenges. She has a clear understanding of the role that OB/GYNs can play in helping to democratize fertility care on a global basis by providing accessibility to affordable and effective treatments, the key hallmarks of the INVOcell technology. We look forward to leveraging her experience, relationships, and influence to accelerate our OB/GYN clinical implementation strategy in the years to come.”

• • On June 30th, VP Watchlist company, INVO Bioscience, Inc. (NASDAQ: INVO) expanded their North American footprint as they announced on June 30th that they had signed a joint venture agreement in partnership with reproductive specialist Dr. Sue Ellen Carpenter, M.D. through its wholly-owned subsidiary, INVO Centers, LLC, to open an INVO clinic in Atlanta. The clinic, Bloom Fertility, is scheduled to open in the second half of 2021. INVO Bioscience will provide funding for start-up and operating costs and own 40% of the Atlanta Joint Venture. Dr. Sue Ellen Carpenter, MD, is Board Certified in Obstetrics and Gynecology. With over 30 years of experience in reproductive medicine, Dr. Carpenter’s specialties include in vitro fertilization, treating congenital anomalies associated with infertility, as well as endometriosis and polycystic ovarian syndrome. Noted for excellence in her field and a “Top Doctor, Atlanta 2019 and 2020″ she delivers lectures across the country and has published more than a dozen papers on reproduction and fertility. She is an active member of the American Society of Reproductive Medicine (ASRM) as well as the Georgia OB GYN Society. Note that INVO Bioscience has also signed clinic partnerships in Birmingham, Alabama and the San Francisco Bay area earlier this year, along with its Mexico partnership in late 2020, which is scheduled to open later this year. These clinics, through the utilization of the INVOcell technology, in addition to the multiple clinic and distribution partnerships throughout the world are bringing advanced fertility care and much needed expanded access to the millions of underserved people.

•  

•  

Dr. David Sable Portfolio Manager of The Special Situations Fund of AWM Investment Company

• • On May 11, a 13G was filed that confirms that David Sable’s (a former #IVF doc turned portfolio manager) Special Situations Fund of AWM Investment Company increased their ownership to 11.1% or 1,154,153 share ownership of INVO Bioscience (INVO). They held 625k/6.5% as of the 13G filing 2-12-2021. If you are not familiar with them, I believe if you do a relatively small amount sleuthing you will find out that they are one of the most successful multi-billion funds over the last 20-years, especially in finding small undiscovered microchips. I believe that they led the round of $13M at $3.20 a share in November 12, 2020 that pushed INVO uplist to the NASDAQ. Here’s the 13G filing. The company only has 10,424,229 shares issued and outstanding as of March 31, 2021.

• • 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.

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

1. “In the post-industrial economy, ideas and great minds often provide far greater return on investment than any other resources or capital investments.” – Marvin Ammori
2. “Work like you don’t need the money. Love like you’ve never been hurt. Dance like nobody’s watching.” – Satchel Paige
3. “One of the rules I’ve learned is that struggling to try and think your way into making an investment is usually the best way to not have a great outcome.” – Stephen A. Schwarzman
4. “The secret of business is to know something that nobody else knows.” – Aristotle Onassis
5. “It takes a long time to grow an old friend.” – John Leonard
6. “Life is a dream for the wise, a game for the fool, a comedy for the rich, a tragedy for the poor.” – Sholom Aleichem
7. “The truth is you don’t know what is going to happen tomorrow. Life is a crazy ride, and nothing is guaranteed.” – Eminem
8. “Man is only great when he acts from passion.” – Benjamin Disraeli
9. “We need to stop thinking about infrastructure as an economic stimulant and start thinking about it as a strategy. Economic stimulants produce Bridges to Nowhere. Strategic investment in infrastructure produces a foundation for long-term growth.” – Roger McNamee
10. “We must let go of the life we have planned, so as to accept the one that is waiting for us.” – Joseph Campbell
11. “Put your heart, mind, and soul into even your smallest acts. This is the secret of success.” – Swami Sivananda
12. “I can’t change the direction of the wind, but I can adjust my sails to always reach my destination.” – Jimmy Dean
13. “Companies have too many experts who block innovation. True innovation really comes from perpendicular thinking.” – Peter Diamandis
14. “By failing to prepare, you are preparing to fail.” – Benjamin Franklin
15. “We must let go of the life we have planned, so as to accept the one that is waiting for us.” – Joseph Campbell

16. “We cannot solve our problems with the same thinking we used when we created them.” – Albert Einstein

17. “When you’re an investor, you can look at the quantitative and qualitative elements of an investment, but there’s a third aspect: What you feel in your gut.” – Kevin O’Leary

18. “Set your course by the stars, not by the lights of every passing ship.” – Omar N. Bradley
19. “Do not take life too seriously. You will never get out of it alive.” – Elbert Hubbard
20. “Education is not only a ladder of opportunity, but it is also an investment in our future.” – Ed Markey 
21. “Every good painter paints what he is.” – Jackson Pollock
22. If you believe in yourself and have dedication and pride – and never quit, you’ll be a winner. The price of victory is high but so are the rewards.” – Bear Bryant
23. “Your mindset matters. It affects everything – from the business and investment decisions you make, to the way you raise your children, to your stress levels and overall well-being.” – Peter Diamandis
24. “You cannot have a positive life and a negative mind.” – Joyce Meyer 
25. “Like wildebeest and zebra migration across the Serengeti, investment managers and consultants, too, have a habit of running together and, every now and then, changing direction.” – Sanjaya Baru
26. “If people are anything but enthusiastic about the information or ideas that they’re sharing, they’re either not that invested in what they’re doing – or they’re not communicating that investment effectively.” – Ana Kasparian 
27. “Life consists not in holding good cards but in playing those you hold well.” – Josh Billings 
28. “Friend, there’s no greater investment in life than in being a people builder. Relationships are more important than our accomplishments.” – Joel Osteen
29. “It’s only natural that the heavy users help contribute to the investment to keep the Web healthy. That is the most important concept of net neutrality.” – Lowell McAdam
30. “The more sand that has escaped from the hourglass of our life, the clearer we should see through it.” – Jean Paul 

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

32. “Modern medical advances have helped millions of people live longer, healthier lives. We owe these improvements to decades of investment in medical research.” – Ike Skelton

33. “In every investment, before I get involved or invest, I always see what the mindset of the founder, the CEO, is.” – Zaza Pachulia
34. “An investment said to have an 80% chance of success sounds far more attractive than one with a 20% chance of failure. The mind can’t easily recognize that they are the same.” – Daniel Kahneman
35. “The return on investment in global health is tremendous, and the biggest bang for the buck comes from vaccines. Vaccines are among the most successful and cost-effective health investments in history.” – Seth Berkley
36. “Few things in the world are more powerful than a positive push. A smile. A world of optimism and hope. A ‘you can do it’ when things are tough.” – Richard M. DeVos
37. To be yourself in a world that is constantly trying to make you something else is the greatest accomplishment.” – Ralph Waldo Emerson
38. “We all have dreams. But in order to make dreams come into reality, it takes an awful lot of determination, dedication, self-discipline, and effort.”  – Jesse Owens
39. “The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.” – William Arthur Ward- American Writer, Born 1921
40. “Once you replace negative thoughts with positive ones, you’ll start having positive results.” – Willie Nelson
41. “The secret of your future is hidden in your daily routine.” – Mike Murdock
42. “Work hard for what you want because it won’t come to you without a fight. You have to be strong and courageous and know that you can do anything you put your mind to. If somebody puts you down or criticizes you, just keep on believing in yourself and turn it into something positive.” – Leah LaBelle
43. “Opportunity is missed by most people because it is dressed in overalls and looks like work”. -Thomas A. Edison
44. “Education is not only a ladder of opportunity, but it is also an investment in our future.” – Ed Markey

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

46. “We are what our thoughts have made us; so take care about what you think. Words are secondary. Thoughts live; they travel far.” – Swami Vivekananda

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

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

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

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

51. “Prediction is very difficult, especially if it’s about the future.” – Niels Bohr

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

53. “The wisest rule in investment is: when others are selling, buy. When others are buying, sell. Usually, of course, we do the opposite. When everyone else is buying, we assume they know something we don’t, so we buy. Then people start selling, panic sets in, and we sell too.” – Jonathan Sacks

54. “What lies behind you and what lies in front of you, pales in comparison to what lies inside of you.” – Ralph Waldo Emerson
55. “Each new generation born is in effect an invasion of civilization by little barbarians, who must be civilized before it is too late.” – Thomas Sowell
56. “Life is 10% what happens to you and 90% how you react to it.” – Charles R. Swindoll
57. “The truth is you don’t know what is going to happen tomorrow. Life is a crazy ride, and nothing is guaranteed.” – Eminem
58. “View health as an investment, not an expense.” – John Quelch

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

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

61. “Once you replace negative thoughts with positive ones, you’ll start having positive results.” – Willie Nelson

62. “That which does not kill us makes us stronger.” – Friedrich Nietzsche
63. “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
64. “A problem is a chance for you to do your best.”– Duke Ellington
65. “The best way to predict the future is to create it.” -Peter Drucker
66. “I’m involved in the stock market, which is fun and, sometimes, very painful.” – Regis Philbin
67. “Who owns the future? This is the question at the heart of every stock market.” – John Landgraf
68. “One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute.” – William Feather
69. “While I’m sure some millennials are concerned with the ethical issues involved in mining for diamonds, the main reason they steer clear of the gems is because, well, they’re a dumb investment.” – Ana Kasparian
70. “The wisest rule in investment is: when others are selling, buy. When others are buying, sell. Usually, of course, we do the opposite. When everyone else is buying, we assume they know something we don’t, so we buy. Then people start selling, panic sets in, and we sell too.” – Jonathan Sacks

71. “We must shift our thinking away from short-term gain toward long-term investment and sustainability, and always have the next generations in mind with every decision we make.” –  Deb Haaland

72. “The only way to have a friend is to be one.” –  Ralph Waldo Emerson

73. “If you believe in yourself and have dedication and pride – and never quit, you’ll be a winner. The price of victory is high but so are the rewards.” – Bear Bryant

74. “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

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

76. “Our greatest glory is not in never falling, but in rising every time we fall.” – Confucius
77. “Give me a lever long enough and a fulcrum on which to place it, and I shall move the world.” – Archimedes
78. “Who controls the past controls the future. Who controls the present controls the past.” – George Orwell
79. “If you get up in the morning and think the future is going to be better, it is a bright day. Otherwise, it’s not.” – Elon Musk
80. “The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.” – William Arthur Ward
81. “Start where you are. Use what you have. Do what you can.” – Arthur Ashe
82. “Netflix, Amazon, iTunes – whatever platforms emerge – we are looking at as having the same potential that home video had for the movie business. Which means there are entirely new opportunities to monetize our capital investment in content and do so in ways that work for distributors, for consumers and for creators.” – Bob Iger
83. “When you have no one to answer to, vendetta as investment strategy is as legitimate as anything.” – Carl Icahn
84. “No other investment yields as great a return as the investment in education. An educated workforce is the foundation of every community and the future of every economy.” – Brad Henry
85. “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
86. “Modern medical advances have helped millions of people live longer, healthier lives. We owe these improvements to decades of investment in medical research.”– Ike Skelton
87. “Stock market goes up or down, and you can’t adjust your portfolio based on the whims of the market, so you have to have a strategy in a position and stay true to that strategy and not pay attention to noise that could surround any particular investment.” – John Paulson
88. “Your mindset matters. It affects everything – from the business and investment decisions you make, to the way you raise your children, to your stress levels and overall well-being.” – Peter Diamandis
89. “Inflation destroys savings, impedes planning, and discourages investment. That means less productivity and a lower standard of living.” – Kevin Brady
90. “Cash – in savings accounts, short-term CDs or money market deposits – is great for an emergency fund. But to fulfill a long-term investment goal like funding your retirement, consider buying stocks. The more distant your financial target, the longer inflation will gnaw at the purchasing power of your money.”  – Suze Orman
91. “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
92. “I think you have to learn that there’s a company behind every stock and there’s only one real reason why stocks go up. Companies go from doing poorly to doing well or small companies grow to large companies.” – Peter Lynch
93. “Historically, there has been a bull market in the commodities every 20 or 30 years.” – Jim Rogers
94. “The markets generally are unpredictable, so that one has to have different scenarios. The idea that you can actually predict what’s going to happen contradicts my way of looking at the market.” – George Soros
95. “Stop trying to predict the direction of the stock market, the economy or the elections.” – Warren Buffett
96. “An important key to investing is to remember that stocks are not lottery tickets.” – Peter Lynch
97. “Learn everyday, but especially from the experiences of others. It’s cheaper!” – John Bogle
98. “When purchasing depressed stock in troubled companies, seek out the ones with the superior financial positions and avoid the ones with loads of bank debt.” – Peter Lynch
99. “No stock price is too low for bears or too high for bulls.” –  John F. Heerdink, Jr.
100. “Investment is most successful when it is most businesslike.” – Ben Graham
101. “Value stocks are about as exciting as watching grass grow, but have you ever noticed just how much your grass grows in a week?” – Christopher Browne
102. “Even the intelligent investor is likely to need considerable willpower to keep from following the crowd.” – Benjamin Graham
103. “Individual who cannot master their emotions are ill-suited to profit from the investment process.” – Benjamin Graham
104. “I made my first investment at age eleven. I was wasting my life until then.” – Warren Buffet
105. “I don’t look to jump over seven-foot bars; I look around for one-foot bars that I can step over.” — Warren Buffett
106. “There are only three measurements that tell you nearly everything you need to know about your organization’s overall performance: employee engagement, customer satisfaction, and cash flow. It goes without saying that no company, small or large, can win over the long run without energized employees who believe in the mission and understand how to achieve it.” – Jack Welch, former CEO of GE
107. “Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble” ― Warren Buffett
108. “If you buy things you do not need, soon you will have to sell things you need.” – Warren Buffet
109. “How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” — Robert G. Allen
110. “It’s far better to buy a wonderful company at a fair price, than a fair company at a wonderful price.” – Warren Buffett
111. “A market downturn doesn’t bother us. It is an opportunity to increase our ownership of great companies with great management at good prices.” — Warren Buffett
112. “Every once in a while, the market does something so stupid it takes your breath away.” — Jim Cramer
113. “The person who starts simply with the idea of getting rich won’t succeed; you must have a larger ambition.” — John D. Rockefeller
114. “Know what you own, and know why you own it.” – Peter Lynch
115. “Although it’s easy to forget sometimes, a share is not a lottery ticket… it’s part ownership of a business.” – Peter Lynch

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

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

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

119. “With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future.” — Carlos Slim Helu
120. “If we like a business, we’re going to buy as much of it as we can and keep it as long as we can. And when we change our mind, we don’t take half measures.” – Warren Buffett
121. “The most contrarian thing of all is not to oppose the crowd but to think for yourself.” — Peter Thiel
122. “Never depend on a single income, make an investment to create a second source.” Warren Buffet“Games are won by players who focus on the playing field –- not by those whose eyes are glued to the scoreboard.” ― Warren Buffett
123. “The key to making money in stocks is not to get scared out of them.” – Peter Lynch
124. “Courage taught me no matter how bad a crisis gets … any sound investment will eventually pay off.” — Carlos Slim Helu
125. “Investing puts money to work. The only reason to save money is to invest it.” – Grant Cardone
126. “As time goes on, I get more and more convinced that the right method of investment is to put fairly large sums into enterprises which one thinks one knows something about and in the management of which one thoroughly believes.” — John Maynard Keynes
127. “Given a 10% chance of a 100 times payoff, you should take that bet every time.” — Jeff Bezos
128. “Money is always eager and ready to work for anyone who is ready to employ it.” ― Idowu Koyenikan
129. “The secret to investing is to figure out the value of something – and then pay a lot less.” – Joel Greenblatt
130. “We don’t have an analytical advantage, we just look in the right place.” – Seth Klarman
131. “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
132. “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
133. “In investing, what is comfortable is rarely profitable.” — Robert Arnott
134. “Don’t look for the needle in the haystack. Just buy the haystack!” — John Bogle
135. “No Price is too low for a bear or too high for a bull.” — Anonymous
136. “Investment is an asset or item that is purchased with the hope that it will generate income or appreciate in the future.” — Anonymous
137. “Behind every stock is a company. Find out what it’s doing.” — Peter Lynch
138. “Wise spending is part of wise investing. And it’s never too late to start.” –Rhonda Katz
139. “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
140. “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
141. “A bull market is like sex. It feels best just before it ends.” — Barton Biggs
142. “The investor’s chief problem — even his worst enemy — is likely to be himself.” — Benjamin Graham
143. “No profession requires more hard work, intelligence, patience, and mental discipline than successful speculation.” – Robert Rhea
144. “The most contrarian thing of all is not to oppose the crowd but to think for yourself.” — Peter Thiel
145. “Money is like a sixth sense – and you can’t make use of the other five without it.” – William Somerset Maugham
146. “Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn’t, pays it.” — Albert Einstein
147. “The stock market is a device for transferring money from the impatient to the patient.” – Warren Buffett
148. “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
149. “Investing puts money to work. The only reason to save money is to invest it.” – Grant Cardone
150. “Formal education will make you a living; self-education will make you a fortune.” – Jim Rohn
151. “You cannot save time for your future use however you can invest time for your future.” – John F. Heerdink, Jr. 
152. “We always live in an uncertain world. What is certain is that the United States will go forward over time.” – Warren Buffett
153. “Never test the depth of the river with both of your feet.” – Warren Buffet
154. “Know what you own, and know why you own it.” – Peter Lynch
155. “Liquidity is only there when you don’t need it.” -Old Proverb
156. “There is no such thing as no risk. There’s only this choice of what to risk, and when to risk it.” – Nick Murray
157. “If you want to be a millionaire, start with a billion dollars and launch a new airline.” – Richard Branson
158. “Fear incites human action far more urgently than does the impressive weight of historical evidence.” – Jeremy Siegel
159. “In investing, what is comfortable is rarely profitable.” – Robert Arnott
160. “Spend each day trying to be a little wiser than you were when you woke up.” – Charlie Munger
161. “The entrance strategy is actually more important than the exit strategy.” – Edward Lampert
162. “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
163. “It is impossible to produce superior performance unless you do something different from the majority.” – John Templeton
164. “Inaction and patience are almost always the wisest options for investors in the stock market.” – Guy Spier
165. “Remember that the stock market is a manic depressive.”  – Warren Buffett
166. “An investment in knowledge pays the best interest.” – Benjamin Franklin
167. “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
168. “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
169. “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
170. “If all the economists were laid end to end, they’d never reach a conclusion.
     -George Bernard Shaw
171. “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
172. “In the short run, the market is a voting machine. But in the long run, it is a weighing machine.” – Ben Graham
173. “In investing, what is comfortable is rarely profitable.” -Robert Arnott
174. “The fundamental law of investing is the uncertainty of the future.” -Peter Bernstein
175. “How many millionaires do you know who have become wealthy by investing in savings accounts?” -Robert G Allen
176. “Greed is all right, by the way. I think greed is healthy. You can be greedy and still feel good about yourself.”-Ivan Boesky
177. “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
178. “The policy of being too cautious is the greatest risk of all.” -Jawaharlal Nehru
179. “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
180. “Blaming speculators as a response to financial crisis goes back at least to the Greeks. It’s almost always the wrong response.” -Larry Summers