Week 46 - Nov 13 Investment moves
- Current US Market Conditions
- Nov 13 Investment moves @ 10:30 am (EST)
- New Positions in 2024 -> already making a big difference
- Bitcoin 90K
Current US Market Conditions
Here is how the US markets are doing at 11 am (EST):
Nov 13 Investment moves @ 10:30 am (EST)
Here are my options trades on Nov 13 @ 10:30 am (EST)
New Positions in 2024 -> already making a big difference
Several weeks ago, I created a post showing all the stocks I sold (mostly dividends stocks) and what I purchased with that cash. Today, I wanted to show two of those holdings:
I purchased On Holding before the Paris Olympics because that is a great place for a company like ON to show off its products. Since that time, I believe ON will continue to do well (and maybe better than NIKE) over the next few years. They sell expensive running and tennis sneakers. This is very different from a brand like Skechers U.S.A. (aka the "dad shoe" brand). Nike has been so strong over the last 30 years and I believe consumer taste changes and there is room for different brands to compete. I own both Skechers and On Stock.
Next is a very interesting stock. Palantir has been in the news for its "AI" ability and it is clearly cheaper than Nvidia shares. This is like the Tesla story from 2012 when it was only making 20K cars a year. When Tesla was in the news, it was a LOVE-HATE relationship. Those who love it, believe Elon can compete against Honda/Toyota, the Big 3 American Auto, and VW brands. Others think Tesla was going to blow up in your face.
We are at a similar point with Palantir. PLTR was added to the SP500 Index on Sept 23. I publicly showed my trade on 9/18 buying 50 shares at $36 (which was much more expensive than a few months ago when it was trading under $30 and $20 in Jan 2024. Why do this?
Sometimes great company will be expensive even at its early stages and if you are not willing to pay, you might miss the run. Tesla and Nvidia are good examples of that. I was willing to invest a few thousand dollars to see if this 70B company could grow into a 1 Trillion market cap (or 14x). It's only been 2 months and I'm up 70% so far. I plan to hold this and see if they can continue to grow. The current market cap is now 141B!
Bitcoin 90K
Talking about the LOVE-HATE relationship, #Bitcoin is the same. You will meet many people who "hate" Bitcoin because it fake digital money. There is nothing physical about it. The same folks believe #GOLD or #USD is still the best thing to hold. I put this investment into the same category as Tesla (or Palantir). You don't have to agree with the business model or the valuation. You just need to be willing to put $50 a month into it. I find investments that I feel are "expensive" or "too risky" are the ones I need to DCA (dollar cost average) into it. Even if it is a small amount, I can do it for a year and then decide if I should continue adding more. Over the years, that is what I'm still doing in Bitcoin (as well as #QQQM, #Wingstop and a few other stocks).
Have a profitable day!