I get it. The market is up bigtime. At the same time, Rome (the American economy) seems to be burning. Anyone can see it. Inflation is soaring. Our southern border is porous. At times, our president acts as if he should be in the Alzheimer’s unit of a nursing home. Many of our schools and elite colleges are teaching that the greatest enemy our people face is… me (an old white guy)!
It’s no wonder that many of us sitting in front of our TV’s each night, watching all this unfold, can’t help but wonder how long the market can continue to rise.
I recently received a correspondence from a man who gets emails from a huckster, telling him the American way of life is about to end and as an unsuspecting investor, he will be wiped out unless he (fill in the blank) right away. And fill in the blank is always illusory. He must subscribe to (huckster’s) newsletter to get the (stock pick) that will bring him untold riches. In mid-June I received another such correspondence. Understandably, he is very worried. This was my reply to him;
“When I last wrote you in March, (huckster) was extolling the virtues of Bitcoin. Now he’s talking about its “Dark Side?” The more I see of this guy, the less I trust him. He’s going to continue to send you his emails, and they’re going to continue to be “shocking.” I mean, how can he get you to buy his newsletter if he preaches “slow and steady wins the race?” That’s not shocking, that’s boring. On March 24th, when last I wrote to you about this guy, you and (wife) had a total of $212,080 in assets here, and Bitcoin was $54,336 a coin. And if you remember, that’s when (huckster) liked and recommended them. Today Bitcoins are worth $40,100 each (down 26.2% since March 24th) Your account with us is worth $226,788 now, a 6.93% gain from 3/24. I know, that’s boring. But it is real money. I appreciate your confidence in me and in our strategies. We’ll work hard every day to earn it. But ‘shocking’ is something we can’t do. If that’s what you need, then this (huckster) guy may be your answer. I have tried to unsubscribe from his emails several times, but he keeps changing the email address they’re coming from and I get them again. So now I just delete them.”
Nobody knows the future, but we all try to predict it. These hucksters prey on the fear and anxiety we feel over not knowing what’s next. They tell us that they, and they alone, know what’s going to happen. And if you want to be saved from the coming apocalypse, you’d better send them your $49 to subscribe to their newsletter, and be saved from all that bad stuff coming. Don’t believe it. And don’t click on their site. If you do, you’ll start getting emails from ALL the hucksters. I got 28 just yesterday. So, if you ever feel like clicking on one of their websites, move away from your computer (or smartphone), take two aspirin, and call me in the morning.