Fed’s Jackson Hole Speech Helps Fuel Stellar Weekly Bull Market Gains – $IWM $IWC $XBI Jump!

Happy Saturday All!

I hope that you had a great week investing in the markets and otherwise during this late week in the summer.  Thank you again for your attention and I look forward to speaking to each and everyone of you soon.

As for the markets, they were overall bullish in nature this week where we realized a significant bounce back from last week’s negative performances. A number of headlines helped create the bullish disposition including the realization that a number of marquis names beat Wall Street’s earnings expectations and further issued upward guidance i.e. Dow 30 component Salesforce (CRM) where CEO Marc Benioff was bold enough to state, “I don’t think the delta variant will be material to our business. If anything, it only accelerates it.” The House also pushed forward a $3.5T budget resolution & a $1T infrastructure bill. There was also a report that even suggested that we might be reaching a peak of sorts regarding the spread of the Delta virus coupled with the confirmation that the FDA awarded a full approval to Pfizer (PFE) & BioNTech’s (BNTX) COVID-19 vaccine for all that are 16 years and older. 

At the end of the week, we achieved several record highs as the S&P 500 closed at 4,509.37 (+1.5%) & is now up 20.1% YTD ranking as the 5th largest annual price gain over the last 20 years. Note that we have now seen more than 50 record closes year-to-date. The Dow 30 closed at 35,455.80 (+1%) & now is up 15.8% YTD, & the Nasdaq closed at 15,129.50 (+2.8%) & is up 17.4% YTD. The small caps on the Russell 2000 jumped to close at 2,277.15 (+5.1%) after last week’s sizable 2.5% decline and now are up 15.3% YTD. The MicroCaps jumped as the iShares Micro-Cap ETF (IWC) closed at $148.74 hopping +6.65% after last weeks 3.03% decline & is now up a stellar 25.36% YTD.

However, when we look at sector performances for the week, it was not all rosy, as there were five of the 11 sectors that ended in the red. The utilities fell 2.1%, the consumer staples sector fell 1.4%, the health care sector dropped 1.2%, & real estate ticked down .3%, which are all generally considered ‘defensive’ sectors by nature. The energy sector bounced back significantly jumping 7.3% to lead all sectors as the growth trade was on and oil prices closed at $68.73, +10.6% for the week, and is now up 41.7% YTD. Not to be a downer, but I wonder if the spreading of the Delta Variant spread will soon dampen investors spirits and the world’s growth prospects sometime soon. 

MACRO REPORTS – JACKSON HOLE – YIELDS 

On Friday, Fed’s Chair Jerome Powell delivered his stout defense of the central bank’s monetary policy via his speech during the annual Jackson Hole Summit that was once again held virtually because of the pandemic. In case you missed it, I recommend that you view his speech now my visiting this video link. In quick summary, he stayed consistent with his delivery and the monetary position exuding confidence that the Fed would be considering tapering asset purchases sooner than later, but this would not mean that they would be raising interest rates when if they tapered. He further noted that jobs are recovering, but have further to go, & that inflation is high, but the Fed still feels confident that it is temporary.

Many more macroeconomic reports surfaced again this week. On Monday, the macroeconomic schedule delivered the existing home sales report which confirmed a 2% month/month rise in July to a seasonally adjusted annual rate of 5.99M , while total sales in July moved up 1.5% over a year ago. The preliminary IHS Markit Manufacturing PMI report confirmed a drop to 61.2 in August, while the preliminary IHS Markit Services PMI report showed a drop to 55.2 in August. On Tuesday, the new home sales report confirmed a 1% rise m/m in July to a seasonally adjusted annual rate of 708k, while new home sales were off 27.2% year over year. On Wednesday, the total durable goods orders report confirmed a move down by .1% m/m in July, while orders, excluding transportation, rose .7%. On a Y/Y basis, durable goods orders have moved up 25.3% & orders, excluding transportation, are up 17.7%. On Thursday, the second estimate report for Q2 GDP came in at 6.6% as expected & the GDP Deflator came in at 6.1% basically inline as well. The Initial claims report for the week ending August 21 confirmed a rise by 4k to 353k as continuing claims for the week ending August 14 moved lower by 3k to 2.862M. On Friday, the Personal income report confirmed a 1.1% move up m/m in July. The Personal spending report showed a edge higher by .3%, however real PCE moved lower by.1% while  the PCE Price Index moved by .4%. The core PCE Price Index moved up .3%. The final University of Michigan Consumer Sentiment Index report for August came in basically inline with the preliminary reading at 70.3, but significantly lower that July’s 81.2.  The Advance report for International Trade in Goods report for July confirmed a deficit of $86.4b, while the Advance report for Retail Inventories for July moved up .4% & the Advance report for Wholesale Inventories for July rose .6%.

The yield curve moved higher this week, but faded on Friday after the Fed’s speech. The 10-yr yield ended up 5 basis points wk/wk to close at 1.31%, while the 2-yr moved up 1 basis point wk/wk closing at .22%. The U.S. Dollar Index moved lower from 93.45 to close at 92.68.

Next week, the macroeconomic schedule will serve the Pending Home Sales report for July, the Consumer Confidence report, the Hourly Earnings report, & the Unit Labor Costs report.

STORIES YOU MAY HAVE MISSED

App Developers Apparently Not Going To Be Appeased By Apple’s ‘Empty Gestures’

Verizon Issues Green Bond Impact Report Confirms Full Allocation Of $1B 

Salesforce Q2 Earnings Beat Estimates – Raises Full-Year Guidance

Disney’s Cruise Line Issues Mandatory Vaccination Proof For Florida To Bahamas Trips

Walmart’s Launches Walmart GoLocal A ‘New Delivery As A Service’ Business Diversifying Its Revenue Streams

Yikes!..Supply Chain Issues Yank Milkshakes From British McDonald’s Menu

FAANG’s OVERALL STRONG

The FAANG’s weekly returns were as follows: Apple (AAPL) closed at $148.60, +.28%, Amazon (AMZN) closed at $3,349.63, +4.68% for the week, Alphabet (GOOG) closed at $2,891.01, +4.42% for the week, Facebook (FB) closed at $372.63, +3.69% this week & Netflix (NFLX) closed at $558.92/share, +2.20%. 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 $36.51, +12.44% for the week. 

EV- TECH – NVDA NEW RECORD

Leading EV car maker Tesla (TSLA) moved higher to close at $711.92, +4.65% as Tesla’s boss CEO Elon Musk announced they are seeking to build a humanoid robot called ‘Tesla Bot’. The announcement was made as part of AI Day, a series of tech talks hosted by Tesla in California to recruit machine learning talent. Musk revealed that in the time to come, the human-robot has the chance to transform the world economy by lowering labor costs.

One to watch and if you need another reason to own some Amazon, Rivian Automotive announced a IPO filing on Friday as Goldman Sachs, JPMorgan and Morgan Stanley are the underwriters and could seek a $70B valuation. In July, the company closed a $2.5B funding round led by Amazon, Ford Motor & T. Rowe Price & has previously raised an amazing $10.5B since 2019. Oh, and Amazon has agreed to purchase 100k Rivian electric vans already.  Nothing like putting your money where you mouth is….

Shares of Ford Motor Co. (F) closed at $13.31, +5.89% for the week.

Microsoft (MSFT) closed at $299.72, +1.52% for the week after recently recording a new record high of $305.84.

Chip making giant NVIDIA Corporation closed $226.36, +8.74% for the week and establishing a new record high of $227.22. Taiwan Semi (TSM) confirmed that it is planning to raise prices of their more advanced chips with a range of  10-20% next year. the chip shortage still persists to some degree folks. 

Cathie Wood’s ARK Innovation ETF (ARKK) closed at $122.03, +5.38% for the week.

The Technology Select Sector SPDR Fund (XLK) closed at $158, +1.45% for the week.

DISNEY

Disney (DIS closed at $180.14, +2.87% for the week. Recently, DIS reported a better than expected Q3 earnings report. 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…Revenues also came in at $17.02B vs. $16.8B expected & $11.78B Y/Y & adjusted earnings per share were $.80 vs. $.55 expected & $.08 Y/Y. Shares of Disney jumped in the aftermarkets to $189.38, +5.63%. 

BIOTECH BROADLY REBOUNDS – $XBI JUMPS

 The Nasdaq Biotechnology ETF (IBB) closed at $171.81, +2.78% for the week, & is up 13.41% this year. The NYSE ARCA Biotech Index (^BTK) closed at 5,939.27, +2.88% for the week and is up +3.49% YTD. In concert this week, the SPDR S&P Biotech ETF (XBI) closed at $132.03, jumping a whopping 8.11% but is still off 6.22% for the year. The XBI’s 52-wk range is $100.64-$174.79.

GOLD & SILVER REVERSES COUSRE

Reversing the 2 week downward trend, Gold prices rebounded to close at $1,819, up $37 from the $1,782 close last week & silver prices closed sharply higher at $24.07/oz., up $1.04 from the $23.03/oz. close last Friday.  Hecla Mining Company (NYSE: HL) closed $6.07, +9.96% for the week. 

MEMES REPORT

AMC Entertainment (AMC), closed at $40.84, +18.691% for the week & GameStop (GME) closed at $204.95, +28.66% for the week. “Short sellers alone aren’t enough to contain the bulls,” stated Jim Cramer during his Mad Money Recap recently. What do you think?

Virgin Galactic Holdings (SPCE) closed at $26.05, +6.2% this week as the space race rages on and it looks as though we found the proverbial floor after the recent run to $62.80 and the subsequent selloff.

Infamous ‘meme brokerage’ firm Robinhood Markets, Inc., (HOOD) moved higher this week closing at $46.87, +9.92% for the week.

Seanergy Maritime Holdings Corp. (SHIP) closed at $1.26, +17.76% for the 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!

Bitcoin

Bitcoin $BTC.X moved +2.74% higher again this week eclipsing the $49k level now at $49,012.86.

NEXT WEEK

The markets will enjoy another normal 5-day trading week during the 3rd week of August. 

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, see the summaries or five of the emerging companies from the VP Watchlist below:

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

2. “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

3. “Set your course by the stars, not by the lights of every passing ship.” – Omar N. Bradley
4. “Do not take life too seriously. You will never get out of it alive.” – Elbert Hubbard
5. “Education is not only a ladder of opportunity, but it is also an investment in our future.” – Ed Markey 
6. “Every good painter paints what he is.” – Jackson Pollock
7. 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
8. “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
9. “You cannot have a positive life and a negative mind.” – Joyce Meyer 
10. “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
11. “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 
12. “Life consists not in holding good cards but in playing those you hold well.” – Josh Billings 
13. “Friend, there’s no greater investment in life than in being a people builder. Relationships are more important than our accomplishments.” – Joel Osteen
14. “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
15. “The more sand that has escaped from the hourglass of our life, the clearer we should see through it.” – Jean Paul 

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

17. “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

18. “In every investment, before I get involved or invest, I always see what the mindset of the founder, the CEO, is.” – Zaza Pachulia
19. “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
20. “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
21. “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
22. To be yourself in a world that is constantly trying to make you something else is the greatest accomplishment.” – Ralph Waldo Emerson
23. “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
24. “The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.” – William Arthur Ward- American Writer, Born 1921
25. “Once you replace negative thoughts with positive ones, you’ll start having positive results.” – Willie Nelson
26. “The secret of your future is hidden in your daily routine.” – Mike Murdock
27. “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
28. “Opportunity is missed by most people because it is dressed in overalls and looks like work”. -Thomas A. Edison
29. “Education is not only a ladder of opportunity, but it is also an investment in our future.” – Ed Markey

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

31. “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

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

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

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

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

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

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

38. “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

39. “What lies behind you and what lies in front of you, pales in comparison to what lies inside of you.” – Ralph Waldo Emerson
40. “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
41. “Life is 10% what happens to you and 90% how you react to it.” – Charles R. Swindoll
42. “The truth is you don’t know what is going to happen tomorrow. Life is a crazy ride, and nothing is guaranteed.” – Eminem
43. “View health as an investment, not an expense.” – John Quelch

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

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

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

47. “That which does not kill us makes us stronger.” – Friedrich Nietzsche
48. “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
49. “A problem is a chance for you to do your best.”– Duke Ellington
50. “The best way to predict the future is to create it.” -Peter Drucker
51. “I’m involved in the stock market, which is fun and, sometimes, very painful.” – Regis Philbin
52. “Who owns the future? This is the question at the heart of every stock market.” – John Landgraf
53. “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
54. “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
55. “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

56. “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

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

58. “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

59. “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

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

61. “Our greatest glory is not in never falling, but in rising every time we fall.” – Confucius
62. “Give me a lever long enough and a fulcrum on which to place it, and I shall move the world.” – Archimedes
63. “Who controls the past controls the future. Who controls the present controls the past.” – George Orwell
64. “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
65. “The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.” – William Arthur Ward
66. “Start where you are. Use what you have. Do what you can.” – Arthur Ashe
67. “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
68. “When you have no one to answer to, vendetta as investment strategy is as legitimate as anything.” – Carl Icahn
69. “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
70. “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
71. “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
72. “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
73. “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
74. “Inflation destroys savings, impedes planning, and discourages investment. That means less productivity and a lower standard of living.” – Kevin Brady
75. “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
76. “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
77. “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
78. “Historically, there has been a bull market in the commodities every 20 or 30 years.” – Jim Rogers
79. “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
80. “Stop trying to predict the direction of the stock market, the economy or the elections.” – Warren Buffett
81. “An important key to investing is to remember that stocks are not lottery tickets.” – Peter Lynch
82. “Learn everyday, but especially from the experiences of others. It’s cheaper!” – John Bogle
83. “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
84. “No stock price is too low for bears or too high for bulls.” –  John F. Heerdink, Jr.
85. “Investment is most successful when it is most businesslike.” – Ben Graham
86. “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
87. “Even the intelligent investor is likely to need considerable willpower to keep from following the crowd.” – Benjamin Graham
88. “Individual who cannot master their emotions are ill-suited to profit from the investment process.” – Benjamin Graham
89. “I made my first investment at age eleven. I was wasting my life until then.” – Warren Buffet
90. “I don’t look to jump over seven-foot bars; I look around for one-foot bars that I can step over.” — Warren Buffett
91. “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
92. “Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble” ― Warren Buffett
93. “If you buy things you do not need, soon you will have to sell things you need.” – Warren Buffet
94. “How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” — Robert G. Allen
95. “It’s far better to buy a wonderful company at a fair price, than a fair company at a wonderful price.” – Warren Buffett
96. “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
97. “Every once in a while, the market does something so stupid it takes your breath away.” — Jim Cramer
98. “The person who starts simply with the idea of getting rich won’t succeed; you must have a larger ambition.” — John D. Rockefeller
99. “Know what you own, and know why you own it.” – Peter Lynch
100. “Although it’s easy to forget sometimes, a share is not a lottery ticket… it’s part ownership of a business.” – Peter Lynch

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

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

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

104. “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
105. “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
106. “The most contrarian thing of all is not to oppose the crowd but to think for yourself.” — Peter Thiel
107. “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
108. “The key to making money in stocks is not to get scared out of them.” – Peter Lynch
109. “Courage taught me no matter how bad a crisis gets … any sound investment will eventually pay off.” — Carlos Slim Helu
110. “Investing puts money to work. The only reason to save money is to invest it.” – Grant Cardone
111. “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
112. “Given a 10% chance of a 100 times payoff, you should take that bet every time.” — Jeff Bezos
113. “Money is always eager and ready to work for anyone who is ready to employ it.” ― Idowu Koyenikan
114. “The secret to investing is to figure out the value of something – and then pay a lot less.” – Joel Greenblatt
115. “We don’t have an analytical advantage, we just look in the right place.” – Seth Klarman
116. “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
117. “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
118. “In investing, what is comfortable is rarely profitable.” — Robert Arnott
119. “Don’t look for the needle in the haystack. Just buy the haystack!” — John Bogle
120. “No Price is too low for a bear or too high for a bull.” — Anonymous
121. “Investment is an asset or item that is purchased with the hope that it will generate income or appreciate in the future.” — Anonymous
122. “Behind every stock is a company. Find out what it’s doing.” — Peter Lynch
123. “Wise spending is part of wise investing. And it’s never too late to start.” –Rhonda Katz
124. “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
125. “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
126. “A bull market is like sex. It feels best just before it ends.” — Barton Biggs
127. “The investor’s chief problem — even his worst enemy — is likely to be himself.” — Benjamin Graham
128. “No profession requires more hard work, intelligence, patience, and mental discipline than successful speculation.” – Robert Rhea
129. “The most contrarian thing of all is not to oppose the crowd but to think for yourself.” — Peter Thiel
130. “Money is like a sixth sense – and you can’t make use of the other five without it.” – William Somerset Maugham
131. “Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn’t, pays it.” — Albert Einstein
132. “The stock market is a device for transferring money from the impatient to the patient.” – Warren Buffett
133. “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
134. “Investing puts money to work. The only reason to save money is to invest it.” – Grant Cardone
135. “Formal education will make you a living; self-education will make you a fortune.” – Jim Rohn
136. “You cannot save time for your future use however you can invest time for your future.” – John F. Heerdink, Jr. 
137. “We always live in an uncertain world. What is certain is that the United States will go forward over time.” – Warren Buffett
138. “Never test the depth of the river with both of your feet.” – Warren Buffet
139. “Know what you own, and know why you own it.” – Peter Lynch
140. “Liquidity is only there when you don’t need it.” -Old Proverb
141. “There is no such thing as no risk. There’s only this choice of what to risk, and when to risk it.” – Nick Murray
142. “If you want to be a millionaire, start with a billion dollars and launch a new airline.” – Richard Branson
143. “Fear incites human action far more urgently than does the impressive weight of historical evidence.” – Jeremy Siegel
144. “In investing, what is comfortable is rarely profitable.” – Robert Arnott
145. “Spend each day trying to be a little wiser than you were when you woke up.” – Charlie Munger
146. “The entrance strategy is actually more important than the exit strategy.” – Edward Lampert
147. “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
148. “It is impossible to produce superior performance unless you do something different from the majority.” – John Templeton
149. “Inaction and patience are almost always the wisest options for investors in the stock market.” – Guy Spier
150. “Remember that the stock market is a manic depressive.”  – Warren Buffett
151. “An investment in knowledge pays the best interest.” – Benjamin Franklin
152. “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
153. “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
154. “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
155. “If all the economists were laid end to end, they’d never reach a conclusion.
     -George Bernard Shaw
156. “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
157. “In the short run, the market is a voting machine. But in the long run, it is a weighing machine.” – Ben Graham
158. “In investing, what is comfortable is rarely profitable.” -Robert Arnott
159. “The fundamental law of investing is the uncertainty of the future.” -Peter Bernstein
160. “How many millionaires do you know who have become wealthy by investing in savings accounts?” -Robert G Allen
161. “Greed is all right, by the way. I think greed is healthy. You can be greedy and still feel good about yourself.”-Ivan Boesky
162. “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
163. “The policy of being too cautious is the greatest risk of all.” -Jawaharlal Nehru
164. “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
165. “Blaming speculators as a response to financial crisis goes back at least to the Greeks. It’s almost always the wrong response.” -Larry Summers