6:00am: Another day began and I engaged in my customary early morning meditation program.
7:00am: Checked out a dozen of my favorite charts. The bullish market action so far this year has probably surprised the gloom and doomers out there. Oh, a second Great Depression is still possible. I never claim to have “everything” and I am not a PhD holder. What I know is I work to keep my analysis free of commercial bias.
7:30am: Yikes! Picked up an interesting email from a worried client on China’s economic problems. Investor confidence began to stabilize in a very small way, thanks to the long-anticipated, pro-growth announcements that came from the highest political body in the land not long ago. It is true that China can’t really save its economy without reviving the property sector.
I have learned that almost every province and major city announced interest rate reductions. Different local governments have also announced changes to mortgage policies. The OECD revised the outlook for China down markedly. By contrast, the outlook for the US economy has been marked up dramatically for this year.
8:45am: While having a quick breakfast, picked up an interesting news article on gold. Some professional investors will never give up with their extreme predictions. I have a small exposure to gold and it will pay off well in the long-term. Patience is a virtue honey.
9:18am: Grabbed a call from a property broker who asked about the local property market outlook. I told them there are other places to make more money although our grandparents will probably tell us that property is something physical that investors can touch. Still, buying support will come from some people who have nowhere else to put their money.
9:24am: Came across an online advertisement about someone selling a proven trading software designed to make huge money from markets all the time at an unbelievably low price. If you could make 100% or more a year steady from a system, in five years, you will be managing all the money you can run. The money will find you.
11:40am: Got back from a meeting with a group of savvy investors. Almost everyone in the meeting was turning bearish (again) and was looking to short here and there and wait for a panic which would happen sooner or later. We all agreed that the higher the market goes, the bigger the correction will be at some point, so that is all right.
Not many were convinced that there are many upcoming catalysts for cryptocurrencies to reward investors over the next year. Bitcoin has had a tough time breaking through resistance at USD30,000 over the last few months. Yahoo! USD100,000 is my next longer term target.
11:45am: Received an email from someone and it was humbling to be invited as one of the speakers in a prestigious gathering sometime early next year. The program incorporated some big names in the industry. Thinking of what else to share with the audience that will help me achieve overnight fame. A nasty recession coming next year?
12:22pm: Managed to send out a new report to some advisors. Couldn’t do it much earlier due to a delay in getting some of the numbers from the dealing team.
2:00pm: Wrote to some global partners to get their latest views on their funds and markets. There is money to be made in markets but life is always full of surprises. Regular communication with fund managers is important to ensure continuing profitable investment outcomes. One of the managers was convinced that a deceleration in inflation and more stability in interest rates would provide a tailwind for growth stocks once we move beyond the seasonally weak part of the year. “Watch what the Fed does rather than what it says.”
2:30pm: Damn it! Stuck in a discussion with my capable programmer regarding some technical issues in my system. Well, the more I know about technology, the more I hate it. I’m definitely not joking on here.
3:15pm: Back to the trading screens and found that the widely watched S&P 500 was approaching the critical line in the sand level that I have been watching closely. There were some other ugly charts as well. A Halloween crash is coming. Still, I am not going to short anything.
4:45pm: Never mind that the local economy is bad and getting worse and some aspiring politicians act as if it is good and getting better. The weather turned gloomy. The traffic was building up as usual in downtown. I bet some people were worried about another round of flash flooding. Still managed to arrive for a meeting at a prospect’s office 10 minutes earlier. Oh, noticed all the potholes and wondered whether the government is too broke to fix anything.
Like others maybe, this investor doesn’t know what to do with her cash now. For heaven’s sake, asked her to ignore all the headlines in the mainstream media. If you bother with financial news, be prepared to hear more of the same nonsense you have had to tolerate these past couple of years. We have to understand what we can and cannot control.
6:30pm: I paused to engage in my regular meditation practice.
7:15pm: Done checking a long list of emails. Vowed not to work from home after dinner. Oh really? Such is the price of working in our show business driven by the ups and downs in markets. Can anyone tell me how to increase my chances of striking a lottery?