We nearly made the 18th record close for the S&P 500 while the NASDAQ made its 28th record close.
There just seems no stopping the Mag 7 and their high tech brethren from moving this market up.
There is starting to be talk that the multiples over 20 are something we will have to accept.
The projections for what AI can mean to our future is staggering.
Some speculate that a company like Apple may be left behind while Google and Meta significantly advance.
This could have serious repercussions for software companies like Microsoft, which has invested
significantly, is cloud storage.
Suffice it to say that the future is changing in front of us and at such a pace that we could all be left behind.
It does make you take time and think about where we are headed.
With Chap GPT, one could draw up almost any legal document necessary with full explanations of the potential consequences.
So much for spending three years of your life in law school.
Think of the potential for diagnostic medicine.
You could essentially do all sorts of tests on your body.
We are already spending endless hours searching the web for all types of alternative treatments and supplements for our health needs.
How soon will people start skipping doctors?
Now that almost seven-year sacrifice could be in jeopardy.
If you think I am talking crazy, how many now check themselves out or in on almost a daily basis.
I will say though that there is one sure-fire money pit for companies.
Lockheed and Boeing have known about this for years with all their defense contracts.
Musk has signed up for space travel.
Palantir is the latest and it has produced a 600% rise in its stock value.
No one pays like the government.
What does seem to be following the old trend is a bullish market in the early stages of a Presidency and the strength of the summer rally. Now we will have to see if concerns over a fall swoon will in fact happen.
It seems hard to believe given the recent tendency to buy in on even the smallest pull back.
It is almost like there is nowhere to lose as gold and crypto keep moving up to record levels.
Pullbacks are short lived.
All I know is that being a value investor is completely out of the picture.
I am looking at a couple of coal companies and an ETF that focuses on coal.
My thought is that we have to generate electricity no matter the cost.
I know how out of favor the thought of coal can be but I don’t see it going away.
It is beyond cheap for a reason.
Just shows you how far you have to go to find value.