If a shortstop loses his range, is he deranged?
This CNBC article is titled, “‘Nightmare’ U.S. stock valuations driven by ‘young, dumb’ investors, fund manager says.” The fund manager is Cole Smead, President of Smead Capital Management. Among other things he is quoted as saying, “The buying that went on in August and September is a 10-year phenomenon the likes of which we have never seen, among millennials and in the risk-taking among people that don’t want to own bonds and want to own overpriced U.S. quality businesses, it is of record proportions.”
Inherent in Smead’s view is that the bill will come due. He is skeptical that institutions like the US Federal Reserve can prop up economies and equity markets indefinitely. While fear of a sharp market downturn was just one reason I liquidated 40% of our equity holdings in early June, I also think stock prices are “levitating” at the moment.
Just 77 days remain in 2020! I suspect I am far from alone in hoping that 2021 is a far less tumultuous year. One thought I read that was funny and poignant was, “My five-year plan is to survive 2020.”
Our family lost someone to COVID-19; I hope that six months from now my wonderful wife and I as well as friends and family have all received a dose(s) of a safe and effective vaccine. I have been asked if I will get vaccinated when possible and my answer is “as soon as possible.”
How about this car?
From hdcarwallpapers a picture of a Buick concept car, the Avista. I have written many times here, and even once to Buick, that General Motors should bring back an updated and improved version of the Solstice/Sky as a halo car for Buick. Of course, something like this would fit that bill quite nicely.
Buick is a popular make in China, a fact that saved it during the GM bankruptcy/reorganization in 2009. I think the Chinese car-buying public would flip over a car like this, especially if it offered a hybrid drivetrain as an option.
I write about concept cars from time to time on this blog. I lament that too few of them are ever put into production. WAKE UP, American car companies! The US is a big country and it’s a big world! NOT everyone wants to drive an SUV or pickup truck! To paraphrase Automobile Magazine, life is too short to drive boring cars.
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