Biggest outright tech bubble since '99. I guess every generation has their turn and if you're lucky, you get multiple turns.
Last year, only big tech really won massively. This year, my thinking was it spreads to the smaller/ less AI focussed tech companies. That's how bubbles spread - crypto started with BTC, which went to ETH and some others, which eventually spread to NFTs and sh*tcoins. I reckon we're still in the middle - if you've got guts, take a punt. I remember NVDA was discussed on the thread a few months ago and many (including myself) criticised the position. Well, that'd have made a healthy return and it seems to be on its way to that fantastical $600 PT. Regardless, your portfolio return is the only way to measure success in the markets. If the route is criticised along the way but you benefit, who cares?
Retail are still hesitant, twitter still believes a crash is around the corner and you haven't heard about day traders making millions (yet). Kids in my uni are still recovering from losing money in 2021/22 but "talk" has begun. Nvidia and Palantir seem to be favourites. And the FOMO will have to kick in at some point. All the indices are making highs, talks of Fed pivots, energy down, confident consumers => a breeding ground for speculation and greed. I don't know about the money market funds stuff but that'll be some night-time reading.
If you can benefit from a bubble without paying stupid valuations, you may as well. Mind you, Dell's only up 13% in the last month and Nvidia's up 20%... winners just keeping winning more, right?
Multiples will keep expanding until something gives. Who knows what? I was musing "what if the Fed hike?" That would throw a spanner into things. But there's no reason to hike rates. And while the market's delusional, even I remember much worse just three years ago!
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As for me, I got my brother to buy more CUTR. This stock may be the death of my portfolio but I've never seen something so cheap with lots of potential growth. No liquidity threat for at least 12-15mo and my faith in management is growing day by day. Have also been reading reviews of their products online. Generally positive, but the hefty price of $3k vs the nearest competitor of Accutane is a concern (which is covered by insurance). The advantage over Accutane is the quicker treatment. I imagine acne treatment will become more popular just as straight teeth, hair transplants and laser eye surgery has done in the past.
Even with the AI boom, there's still so much stuff to buy in this market - OXY's tempting, DELL benefits from this market, QRTEA is looking less sickly, WWW are implementing their turnaround well... I've been looking at utilities a little but as my dad said, "They're dad stocks!" - doesn't stop them from being interesting, though. Think PARAA also has to get bought out so there's a speculative play there. CRGY also on my watchlist. |
