☕️ Fear is expensive, but profit pays

Howdy! 👋 

The markets continue to build strength on the heels of a 5-day winning streak. 

Good! 

That’s strength. 

That’s resilience. 

And, most importantly, that’s what you want to focus on. 

Remember, we’re in to win because – ta da – that’s actually how you do it. 

Once again, there’s a lot more strength in earnings than most people expected including our favourite naysayers in the doom & gloom squad and the clickbait artists clogging our email with their unique brand of fear-based schlock.  

“Or else” is not an investment strategy. 

And what is? 

Profits. 

There’s actually a lot to like this morning: 

• Coke, for example, kept its 2025 forecast and expects tariffs to be manageable (Read) 

• Pfizer tops estimates even as sales fall (Read) 

• Honeywell posted strong earnings (Read) 

• JPM likes Qualcomm (Read) 

• PayPal beat Q1 estimates (Read) 

• GM beats but is reassessing full-year guidance (Read) 

• Hims & Hers shares are up sharply after Novo Nordisk opens Wegovy to telehealth (Read) 

The point I want to make is this and it’s one we talk about frequently… missing opportunity is always more expensive than trying to avoid risks you can’t control. 

Or put another way, fear is expensive but profit pays. 

Anyway, I’ve got to cut things short today. 

I’m off to break in a new physician this morning – not because I want to or I’m sick, but because my insurance company insists I do so to establish care ahead of my annual physical. It’s like breaking a new pair of shoes you didn’t want to buy but you had to because the store changed policies. 

I can’t wait for the inevitable clipboard and a slew of “new paperwork” that’d double for a phonebook full of forms designed by committees of lawyers, actuaries and somebody’s cousin with a fax machine – remember those?!?! HIPAA, arbitration clauses, waivers, signatures confirming that I received a copy of something I didn’t read about procedures I’m not having... and heaven forbid you leave one line blank. Sigh. 

America has brilliant docs, but the system? 

Not so much. 

Feels less and less like health care every year and more like “health coverage” – where insurance companies win and pretty much everybody else foots the bill. 🤦‍️ 

Here’s a thought. 

I’d love to see healthcare go back to some kind of co-op model — one where doctors and patients are partners, not paperwork adversaries and truly proactive care is rewarded, not buried in billing codes.  

One where getting treated doesn’t mean mortgaging your great grandkids’ future just to pay off a single visit or see a specialist. But I digress. 

Back to the markets. 

Stay focused on the best, ignore the rest. 

The rally could get a lot more real than you think and you won’t capture one dime of that if you’re not in to win.  

As always, MAKE it a great day. 

Nobody else can do it for you. 

Yep, YOU got this – I promise! 

Keith 😀