14 short notes this morning
1. The markets dropped heavily late yesterday. Futures are down this morning but not as bad as many had feared.
2. One Goldman Sachs strategist says he is starting to see investors buy the dip but the order book is still very soft.
3. Former Treasury Secretary Larry Summers says we are more likely than not to see a recession and that could lead to 2 million jobless. This is if the trade war continues.
4. We are close to a bear market meaning a 20% drop from recent market highs.
5. When I looked late yesterday the S&P 500 remained up 80% in aggregate over the last 5 years. That is some solace.
6. At some point President Trump will I believe start to cut trade deals with some of our larger trading partners. It’s pretty clear he won’t start with small trading partners and give away his deal terms on smaller deals. When he does cut deals, we expect the market will recover some and it will be a huge sigh of relief to many.
7. We feature on our webinar today Sales Empowerment Group and Sean Carson on growing revenues in a changing economy. A great topic for today.
8. We are running an X survey today on will you reduce spending currently based on the market turmoil. And can you get your partner to do so too. Just joking as to the partner. We may focus on business spending.
9. It seems as though President Trump, aside from other motives, is intent on forcing Chairman Powell to cut rates and for the Chinese to come to the table. Fascinating to try and understand his thinking.
10. The Levin Fear Index is likely jumping to Mel Brooks high anxiety levels. We will check in today.
11. Leading investor Dave Stafman is playing the golf of his life and making up for market losses on the golf course. He is taking money like Michael Jordan again. I can’t wait to play against easier marks who will remain nameless like Jim Field. Great surgeon Daniel S. Tresley M.D. is in a groove.
12. I am going to a 12 step program to admit I have no power over my putting. Please don’t tell anyone but I broke down yesterday and bought a new putter. It’s the best medicine for a bad day even though we know it’s not a real fix. Don’t tell my family.
13. Warren Buffett says it brilliantly as always. You can’t do good deals with bad people. You can’t fit a square peg into a round hole.
14. Life is damn good and be damn thankful for what you have. Be grateful and thankful every day.
- Ps. Today’s shout out goes to Chloe Becker, Bobby Becker and Hannah Agins. We are so proud of you all. The next shout out is coming soon. Congrats to Jordyn Agins on her recent success too. Amazing and we are coming to watch. Also way to go Ross and Billy.