Big tech doing their best to bring down the S&P500 multiple tonight. I’m amazed that people (not necessarily here) continue to point at these guys as a sign the market is overvalued, obviously it’s v. frothy, I’m just saying these are not the worst offenders.
GOOG, AAPL, MSFT, AMD posting monstrous revenue and margin growth on sub-30x multiples. To put it in perspective 3 companies that announced earnings tonight reported combined revenues 1/4th the size of the UK GDP
It’s blinking obvious.
Fortunately, my portfolio is still up this month, perhaps courtesy of pound cost averaging/buy and hold and reinvesting dividends. And not being overweight in tech stocks!
Lots going on with inflation concerns, budgeting, political snafu’s, COVID, earnings and so on.
Then again, it could have nothing to do with that, the market is irrational after all. Don’t bother watching it! 
Shamelessly pinched off Twitter:
As a central banker, with balance sheets as they are, I think I would have zero incentive to raise interest rates at all, ever.
China is emerging market and high volatility is expected at all times.
Individual stocks are one thing or a ETF or mutual fund offers diserfification against such volatility but in the end it will still reflect on the ETF.
Different people of different ages with a variety of goals have different strategies and what I am saying above may be OK for me but not for you.
Each person should develop their own strategy according with their goals.
The truth is over long periods of time the market always goes up and as Buffet said don’t sell.
Albert Einstein is said to have described compound interest as the most powerful force in the universe. The concept simply involves earning a return not only on your original savings but also on the accumulated interest that you have earned on your past investment of your savings. … is the miracle of compound interest.
So for me a long strategy works but as per above different people have different goals and should not buy or sell the same.
The 8th Wonder of the World 
They will recover, although not sure some of those names will command their previous multiples for a time. I’m feeling that the way to invest in China has changed. Domestic-oriented companies are at greater risk of regulation and demographic pressure. The ones you want to own are in the critical technology of the future, ideally that the rest of the world is or will become somewhat-reliant upon. The FT did a video about this recently: Will China become the centre of the world economy? | FT - YouTube, and they listed those key sectors as the below:
I would add EVs as well considering Chinese manufacturers have more experience than western carmakers and of course low cast bases.The rest of their market might earn too low returns for the risk.
I’m not gonna lie, I’d take both cos I want it all.
UK is so popular right now that the prime minister & Sunak ‘beg’ for investment.
I’d like to add one rhetorical question: What is the British dream? Answer that and the investment should fly in. Tough question to answer though when buffoons with no dream plan direction for the country’s people are making clown decisions. Really though, what is the British dream?
The British dream: high taxation on individuals and low taxation on corporations.
fed reverse repo has now breached 1 trilly 3 times, including today.
l i q u i d i t y
