I survived! The skiing was awesome, and the weather was incredible. Not a cloud in the sky for three days. Unfortunately, all the elk and bison we ate weren’t as lucky. But the funniest takeaway from the weekend is: I ski far better than I walk. That would make for an interesting scientific study someday.
There’s a general consensus among retail investors that someone knows something. Nobody is quite sure who that someone is, but I’m going to let everyone in on a little industry secret: that someone is you. It’s not you directly, but it is your annuity, 401K, IRA, pension fund or investment advisor. Do you want to know who the sellers are? Of course you do. It’s Mark Zuckerberg, Jeff Bezos, Jamie Dimon and many of the insiders at the chip makers. NVDA is at record highs and since 2023, insiders have all been sellers. The buyers are Blackrock, Fidelity, and anyone else trying to play catch up with the averages. The only problem? It’s your money, not theirs. Contrary to popular belief, we are not entering a new paradigm. Some people, mostly self-promoters, would like you to believe our market structure is broken. It’s not. Never doubt your common sense instincts.
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