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Mass Excitement Over Lowered Numbers

Daily Rap 07-31-2020

The early going saw a mini melt-up, particularly in tech land, as there was an epic celebration of last night's wins at the amazingly stupid Wall Street game of beat-the-number, with Apple, Amazon, and Facebook all being all deemed successful, while Google was penalized.

The Best Is Yet to Come Back A smart friend of mine shared with me his comments on the numbers, and they were so on point that I'm just going to just quote him.

"Everything looks like a blowout, but per my prior points, that is because estimates were hacked to the bone. Now that has happened, the sequential guidance from this point, is actually pretty tepid. With the exception of Amazon, which is a story unto itself due to lockdown, the year over year performance isn't...more


Last year's posts for Ask Fleck

Q: I heard rumors that Biden might pick an African American female entertainer as a VP candidate-- like Oprah, and someone even suggested Beyoncé-- to avoid any controversy between moderate and progressives: if that happened how do you think the markets would react?

Fleck: Probably ignore it for now, as it ignored nearly all news unless it is OK or good news.
(posted: 7/31/2020)


Q: Hi Fleck,

I am remembering when Y2K pulled forward tech demand and turbocharged the mania in 1999. When do people start realizing that for some well-positioned tech companies, the current growth rates augmented by Covid-19 are not sustainable?

Fleck: Who knows, but it's a great question.
(posted: 7/31/2020)


Q: Bill,
I wanted to start buying physical gold for my two grandchildren monthly. I think Sprott Physical Gold Trust allows you to redeem your shares/units in physical gold bullion. Is this a good plan or can you suggest a better way of buying with the worry of storage?

Fleck: Sounds reasonable, though I don't know all the details of that trust.
(posted: 7/31/2020)


more Ask Fleck...

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