The biggest mistake in history – and economics – is assuming that what’s happening now will continue forever.
During the pandemic, money poured into companies that would allow for “zero-contact” transactions and disinfect everything in sight.
Cryptocurrency boomed – and El Salvador even adopted it as an official government currency.
The metaverse looked like it would sweep all before it.
Now, we are getting a painful reminder about the things that are eternal.
Economics isn’t just about numbers on a screen.
Gas, oil, lumber, precious metals, physical dollars, copper, food… these are the things that are dominating headlines today.
Conspiracy theories are swirling about what happened to the Nord Stream 2 pipeline and who may be responsible.
What’s clear though is that it will be a very hard winter for Europe – and it will have massive consequences for the economic future of the Continent.
It’s time to return to fundamentals… and get away from some of the so-called “expert” advice.
To that end, check out what Chris Hood has to say about a certain investment “expert.”
It’s time to pick a fight.
Any strategy that makes you money consistently is worthwhile.
Though many new traders believe that trading is primarily about indicators and tools, Chris maintains that it is at least 95% about emotional control.
This is especially relevant in this bearish, choppy market which has made the trading world extremely difficult.
Learn some pro tips to come back from your losses and stay in the game.
WORD ON THE STREET
Conspiracy Theories, Stocks Hit New Low, Timbeeeeeeeeeeeeeer!
- You Maniacs! You Blew It Up! – Europe’s already precarious energy situation took another hit when the Nord Stream 2 pipeline started leaking. Speculation is wild about whether Russia, the United States, or a simple accident is responsible. Former Polish Defense Minister Radek Sikorski, a member of the European Parliament, raised some eyebrows when he posted a picture of the leak with the words, “Thank you, USA.”
Now’s The Time To Build That Cabin – During the pandemic, lumber surged in price. Well, now the bear market has hit this sector too. Lumber prices are down more than 60% this year, and with high mortgage rates cutting into home construction, this probably isn’t going to end anytime soon.
Breaking The Wrong Kind Of Records – The S&P 500 broke its own record from, uh, yesterday, hitting the lowest level in almost two years. The S&P 500 dropped 0.2%, finishing up at 3,647.29.
You Have To Admire Her Optimism – Cathie Wood and Ark Invest is… well, not having a good year. She was a star of the pandemic but her tech-heavy picks aren’t doing well in 2022. However, she’s standing by her bullish calls, including those on Tesla, Roku, and bitcoin. “We stand by all of them,” she said when grilled by CNBC. Incidentally, don’t miss Chris Hood’s analysis of Jim Cramer and his own, well, mixed performance.
HOT SPOTS: What’s Going on in Geopolitics
- You’ll Never Guess How The Russian “Referendums” Went – Surprise, surprise, voters in the four Ukrainian territories (mostly) occupied by Russian forces want to reunite with Mother Russia. The results were overwhelming – some would say, suspiciously so. Reports indicate that President Vladimir Putin will announce the new territorial acquisitions on Friday.
Hurricane Ian Shuts Down Production – Hurricane Ian is storming towards Florida and it is already hitting the economy. Amazon is temporarily shutting down some warehouses; Disney World is also closing up shop for the duration.
Medvedev – NATO Is Bluffing – The addition of new “Russian” territory will fundamentally change the nature of the conflict in Ukraine, as the Russian leadership now will frame the conflict as an attack on its territory. Former president and onetime “moderate” hope Dmitry Medvedev alluded to British Prime Minister Liz Truss’s recent comments about being willing to use nukes. He said she was “completely ready to immediately begin an exchange of nuclear strikes with our country.” He said that Russia would “do anything” before letting Ukraine have nuclear weapons and said the West would back down before sacrificing themselves for “a dying Ukraine that no one needs.”
CUTTING EDGE: What‘s Happening In Tech
- Cuba Goes Dark – While Florida prepares, Hurricane Ian has already slammed Cuba, with disastrous consequences. The entire electrical grid collapsed, leaving the entire island without power. The Communist country’s grid is in desperate need of modernization, leaving it open to just this sort of catastrophe.
Cloudflare Moves Into Venture Capitalism – Cloudflare Inc (NET) said that startups that use its Cloudflare Workers platform may be hooked up with venture capitalist funds that have pledged about $1.25 billion. It’s a shot across the bow at Amazon and Google, especially their cloud divisions. NET was up more than 5% yesterday.
Meta Shuts Down Counterintelligence Operation – Meta Platforms (META) said two separate networks of fake accounts were operating on Facebook, intending to disrupt the midterm elections. A smaller one was run from China and a larger one was run from Russia. It is unclear if the operations were connected to either the Chinese or Russian governments.
FOR YOUR CONSIDERATION
Jim Cramer is an entertainer, not a market advisor. If people understood that, it would be fine, but lots of people actually follow him.
Cramer rants and screams some of the worst advice I’ve ever heard.
Remember the infamous cheerleading for Coinbase (COIN)?
Yeah, we do. There’s actually an ETF that will let you do the opposite of what Cramer suggests – and those who follow it would be up more than 14%.
Chris Hood breaks down what truly constitutes expertise in trading… and why you can’t trust the mainstream media with your future.
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