Happy Monday!?

I spent Sunday resting from my long Palomar climb.

Momentum Monday will go out tomorrow.

In the meantime, I wanted to share this piece from Andy Kessler titled ‘RIP Bull Market of 1982-2022’. Read it here.

I read a lot, but I really focus on listening to very few people as you know from reading this blog. Andy Kessler is one of those people. I have been reading his thoughts on tech since the 1990’s when he was running his hedge fund and writing I think for TheStreet.com. Everyone was writing for them back in the day.

Andy’s first book is a classic titled ‘Running Money‘ and as history repeats itself for tech stocks in 2022, think about how few people if any..sold the top and walked away. We know that most in ‘growth’ tech and momentum tripled down (hello Tiger, Softbank). Andy did that in 1999 and chronicled the sentiment and how and why he did. I am going to go back and read it again and I probably would have saved a lot of money if I had read it again in 2021.

As per his latest thoughts from the article this weekend, I loved this part:

As a wet-behind-the-ears engineer designing chips, I was hired by Paine Webber to track semiconductor companies soon after the bull’s birth. The industry was a roller coaster—shortages followed by gluts. Still is. Not wanting gray hair and ulcers, I searched for Silicon Valley’s fountain of growth. (Read more...)