The State Of The Markets...Sunday Rant and Some Reads

Like I said yesterday…it feels like I know nothing about investing as this boom continues.

The good news is knowing nothing has been fantastic for me AND my portfolio.

I joke that ‘investing is easy’ because I know that ‘investing is hard’. As this boom continues though ‘investing is hard’ is the joke.

Today, everyone can index which does make investing ‘easy’.

If you want to build your own portfolio’s investing becomes harder for sure.

Even in this long boom, stocks are blowing up.

Just this week, two of my 8 to 80 companies (Peloton and Zillow) missed their numbers badly and Zillow seems to be without a strategy to grow their market cap in a non financial engineering (flipping houses) way.

In a world of zero interest rates, endless government spending, higher international tensions and the ‘Metaverse’ the idea of an 8 to 80 company may not even make sense anymore or the portfolio might just have to be turned over more rapidly.

It is not just me that is struggling with all the new concepts and opportunities…two recent Fred Wilson posts are worth a read…

The Metaverse and

Web3 versus Web2

I also like this Ben Thompson essay – The Death and Birth of Technological Revolutions.

More this week…have a great Sunday.