The World Makes No Sense But The Markets Do Not Care

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Good morning…

Im on my way from Montreal to New York to see my daughter Rachel (she is now in a sales role after at Iqvia where she has already worked for two years), some Stocktwits customers, Stocktwits team and portfolio founders. It has been a brutal two weeks of coast to coast travel back and forth twice from San Diego to Toronto and San Diego to Montreal/New York.

The world makes no sense right now. Evil is rampant and everywhere.

Despite the world not making sense to me, the investing world (my job) seems very clear to me the last year and today more than ever.

It helps that the public markets are at all-time highs and my two biggest stock positions $AAPL and $GOOG are at all-time highs.

Tomorrow I will share all my thoughts and links related to the new all time highs surge in $AAPL.

In the early stage market, we (Social Leverage) continue to focus on business model first, lean cap tables, tech as a garnish and founders that understand the importance of organic growth levers. While our view (since 2021) still seems to be in the minority, the drumbeat of our views is picking up in the venture community.

One of the best personal investing habits I have right now is direct indexing at FREC.com (a Social Leverage portfolio company). Our whole family has accounts and we are getting in the habit of adding to the accounts more regularly.

The killer feature/benefit of FREC direct indexing is low cost and the continuous tax loss harvesting. FREC does such a great job with their design to help you see the benefits anytime you check your account.

Here is what it looks like for one of our accounts that invests in The S&P Information Technologhy Index ($XLK)

The second unique and maybe best feature of FREC direct indexing is the ability to pick/unpick stocks from the index. For me that meant adding $GOOG to my technology ETF ($XLK) allocation. If I were to buy $XLK the ETF from my brokerage (any brokerage) it would not include $GOOG.

You can see from this family account that the last 30 days have been great for technology led of course by $AAPL and $NVDA and you can see the cumulative tax losses we have already harvested. The performance from the tax loss harvesting and having adding $goog has hleped me crush the $XLK ETF (so far).

As I have been harping on here for a while, the headlines we all read are only going to get worse.

How can I be so sure?

I own a few shares in The New York Times ($NYT) to track it. It is the tobacco of media and backs an insane evil punch for a company with an $8 billion valuation. In my opinion it is as evil as Facebook and TikTok are with their awful algorithms.

Four months ago on ‘Trends With Friends’ I riffed on the strong price action of New York Times and my disdain for how they have figured out growth.

I have my ideas for what our government should be doing to protect us from them and Facebook etc and our foreign enemies…but I don’t feel the need to get extra trolled right now.

My simple advice is save yourself and your sanity and stop reading any and all of it.

Have a great day.

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