I grew up looking over my shoulder. Always looked back to see where I had come from to see where I needed to go. It served me well.
It is in my DNA.
Yes, optimism is a force multiplier. Yes, Colin Powell had that right.
Keep your head up, your eyes open, and keep the head swiveling.
In my office, I keep these pictures predominantly displayed.
I never want to forget that the carnage of 2008 can't be repeated. I think Warren Buffett, a bright and savvy Nebraskan, has his own ideas on what might happen, and he's keeping over $350,000,000,000 in cash to deploy in case SHTF. Smart guy, what does he know?
Who is looking out for your money? You think the SEC is? You think FINRA is? You think your accounting firm is? You think your broker is? You think your banker is?
Think again.
After 2008, this was the result of nobody going to jail. Real estate brokers, mortgage brokers, loan officers, bankers, lawyers, you name it, no one paid except the American taxpayer.
Every few months I watch a movie. Not any old movie, this movie. One of the greatest movies ever made. A movie called, "THE BIG SHORT". I watch it to keep my guard up. To be alive and remind myself to look out for my financial welfare. To think ahead of what "will" happen again, in some form or fashion. Trust me, history repeats itself. Greed will never go out of style. It's been around 10,000 years and kills people daily.
What DOGE has uncovered is similiar to 2008. The lies, deceit, corruption, fraud is easy to see, easier to decipher. No one is being prosecuted. Just like 2008. The level of crime is so off-the-charts and no major media outlet is leading the charge to tell the story. The criminals are losing the best scam in the history of the planet!
It is truly staggering and unbelievable.
The NGO's have been havens for theft. Not just a million here or there. Tens of millions. Hundreds of millions. Billions of dollars of fraud and waste have been built into the fabric of government spending. Have you seen anyone in orange jail attire? Anybody in handcuffs? No, not a chance. There are too many guilty. It appears far too many are in on it. Too many to prosecute. Too many in high places.
This photo is one of the first pictures of the crash site of a large aircraft in the Florida Everglades. A picture of no plane, no debris, just swamp. Here is what happened. Often things don't appear to look like what we think they should look like. No smoke, no fire, no metal, no bodies. Just a plane devoured in the muck.
On May 11, 1996, ValuJet Flight 592, a McDonnell Douglas DC-9, crashed into the Florida Everglades about 10 minutes after takeoff from Miami International Airport, en route to Atlanta. All 110 people on board (105 passengers, 5 crew) were killed.
Cause: The crash was caused by a fire in the cargo compartment, triggered by improperly stored and mislabeled chemical oxygen generators (hazardous cargo). These generators, which produce oxygen and heat when activated, ignited, creating an intense fire that spread rapidly. The fire compromised the aircraft’s electrical and flight control systems, leading to a loss of control. The flight data recorder (FDR) showed progressive system failures, and the pilots, Captain Candi Kubeck and First Officer Richard Hazen, struggled with smoke, electrical issues, and a loud bang (likely a tire explosion in the cargo hold). At 2:10 p.m., passengers reported smoke, and the pilots attempted to return to Miami but lost control as the plane banked sharply, rolled, and nosedived into the Everglades at over 507 mph.
I keep this picture of a sunken TITANIC to remind me to think in terms of extremes, to not be greedy, to stay focused, to do what should be done, and not to take huge chances that could put my financial future in jeopardy.
In the markets, as in life, remind yourself of your boundaries. Never think it can't happen to you. I keep this framed picture on an office wall, easy to see, obviously to remind me daily. Don't think it can't happen to you.
There is no reason to be stupid in the markets and kill yourself and your trading equity. Yes, I experienced some tremendous drawdowns, which didn't put me out of business, but the worst one came at the absolute worst possible time. It was bad news on top of bad news on top of bad news.
Never believe it can't happen to you.
I believe the Trump Administration has literally saved our nation. Putting the Harris ticket into the White House would have been like the Titanic backing up and hitting the iceberg again.
This next picture reminds me of the finest dining venue I have enjoyed with my wife. Have never forgotten it. The mountaineering excellence, the views, North, West, East, and South. Incomparable. That is the Mt. Blanc summit above the restaurant, at 15,781 feet, it is the highest mountain in Western Europe, located in the Alps on the French-Italian border.
I found that restaurant so motivating, so captivating, so inspiring.