Yes, it’s still better to be long than wrong!
Mar 21, 2023Good morning! 👋
Futures are in the green as Wall Street builds on yesterday’s rally.
The mainstream media is reporting that the banks’ll be okay, but what’s actually happening is traders are simply re-leveraging (up), which means they’re buying.
What’s really got ‘em going, though, is that Treasury Secretary Yellen is jawboning about how the government could backstop additional deposits if needed. (Read)
The situation is eerily similar to the Eurozone Crisis that started in 2009 with the global realization that Greece could default on its debt... then escalated into potential defaults from Ireland, Italy, Spain, and Portugal.
Even so…
It’s better to be long than wrong!
Speaking of which, I can’t help but notice that Tesla is also on the move after Moody’s gave it a Baa3 rating while simultaneously removing the company’s junk-rated credit. Shares are up 2.25% in the early pre-market action as I type.
Moody’s says that the upgrade reflects Tesla’s operational track record and prudent financial policy.
Ya think??!!
If you had invested $1,000 in TSLA on March 21, 2018—just 5 short years ago—that investment would be worth $8,553.77 and reflect an annual rate of return of 53.40%, a total increase of 755.38%, and a total profit of $7.533.77, according to FinMasters.
Numbers like that don’t happen unless there’s prudent financial policy and a good operational track record!
Anyway, I’m going to leave things here because I’m feeling less than stellar today.
Stay frosty.
Stay focused on the very best names only.
Stay in to win.
Today’s Bottom Line
When nobody is making money, it’s because “everybody” has missed something.
Figure that out, and you’ve got a winning investment on your hands.
As always, MAKE it a great day!
Keith 😊
