Written by: Mike Simonato, Ontario Presenter: “Investing for the Long Term, presented to the Feb. 6, 2021 International Online Forum, you can watch by CLICKING HERE.
Well the first half of the year is in the books. This was an interesting week, to say the least. I got my hair cut (lost over 7 lbs), Italy won in soccer today and my stocks are soaring. So why don’t I feel good? Here is what I have seen/ experienced this week alone (plus some news highlights).
- Went to the mall today (We only have one mall) 75% of the stores are empty. The big Hair Salon doesn’t even open until next week.
- Got my Hair Cut on Wed. Of four Hair stylists I talked to Wed, two are setting up shop in their homes (tired of overhead), one will come to your home to do your hair, and one said no more and quit. These are some of the best. Three of these owned the buildings their salons were in and got rent to help, but everything is up for sale.
- The quality people in all businesses and industries are continuing to quit at record numbers. USA – 97% of those surveyed are saying they are seriously considering quitting. All companies say the same, “We can’t find good workers”. I have seen the future of retail this week. Two geniuses were putting up kleenex muti-packs. They flung them 10 – 15 feet bouncing them off the walls and shelves knocking all the shampoo etc on the floor and then landing on top of each other smashing the boxes and then putting them on the shelf. Was this done in some hidden part of the store? NO, it was in front of the main office. My sister was training a guy and she said in eight hours he worked less than 1 hour and she found him sleeping in the computer room twice. He never came in the next day The future of retail.
- Then of course there’s the west coast. Extreme heat, (Record Temps every day) plus forest fires and lightning strikes. 719 died suddenly from the heat. 90% of a town gone, roads are buckling etc and add the graves being discovered and thus churches being torched. Police continue to be disrespected, One murdered in Toronto last night. Also history is being destroyed while a statue is being erected to honour a career criminal.
What the future holds for the economy, and thus trading opportunities I don’t know. I’m happy with my strategy, however, it’s currently way too high so at some point I expect a correction and a buying opportunity. See attachments and you’ll see why I don’t worry about the day-to-day.
For now keep riding the Bull until he kicks you off and continue to watch Stan and VectorVest closely for helping us make wise decisions.
As always, nothing more than my 2 cents and I hope it’s of value and interest.