"The air is really getting thin up here enjoying good market news " by: John Sample

   Just when you thought that it couldn’t get any better, the NASDAQ moved to a new record high close. 
   It is good for almost everyone as Bitcoin and gold are projected to move higher at the same time. Everyone is benefitting.  
   Well that is a complete exaggeration for those who are unemployed due to the pandemic.  
   You are even getting those who are speculating that it is different this time.  
   It is never different. My thesis is that there is just so much money out there looking for a return.  
   Putting your money in bonds is much safer but the yield is so small that it is of little interest to most. 
   You only have to look at the multiples of Amazon, Tesla, Microsoft, Google, Netflix and wonder how can this continue.  
   There are some that actually believe that these companies can grow into their value.  
   That was the same logic that pushed the high tech sector into the bubble of the late 90s. It is almost as if instead of inflation pushing up commodity prices to ridiculous levels, we have moved to equities. 
   I know that this sounds ridiculous but you have to start looking at taking some profits here.  
   We have had chances like this earlier this year in February and most watched in horror as their retirement accounts dropped by over 30% in less than a month. 
   I know there will be those that complain about paying taxes on the profits and I have no answer for that logic.  
   I am not suggesting that you sell everything but at least take some off the board. 
   Moreover, I will bet if you look closely, there will be investments that are not at record highs and are actually losers in you accounts.  
   If these can’t make it here, maybe it is time to cut bait. You can offset the profits against the losses.  
   I would never suggest that companies can’t come back but time is money and if it isn’t making you money, you are losing. 
   I am just asking you to take a serious look at your savings, retirement account and investments halfway through the year.  
   I am growing concerned as I really believed that this year would end up on a positive note. Built into that prediction was the thought that we would have to overcome a pullback. So much for that thesis.  
   It is just going to be hard to keep this momentum. 
   I feel there will be a pullback and having taken profits now you can redeploy your cash then. 
   Of course, you hang onto the FANG stocks but anything else has to be evaluated. 

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