What a tournament! March Madness did not disappoint. I was rooting for Baylor to win, and they did! I entered ESPN's Tournament Challenge and finished in the 94th percentile, ranking 843,000 out of 14 million. My final game prediction was Baylor beating Gonzaga 74 – 72. The final score was 86 – 70. As always, there were several surprises and exciting moments like UCLA's march to the final four and Jared Suggs game-winning shot.
Yesterday was a dark day for our country. I watched in horror as an angry mob stormed the Capitol Building, besieging the capitol police. Certifying the Electoral College votes is typically a ceremonial event, administered without fanfare, but not yesterday as rioters forced Congress members to put on gas masks and flee the chamber. The last time unruly thugs stormed the Capitol Building was 1812, 209 years ago.
After years of investing prudently, following his plan, and spending wisely, a young ruler was ready to retire and enjoy the fruits of his labor. He met with his trusted advisors to see if it was feasible. They affirmed his decision, and congratulated the young ruler on his accomplishment, and wished him well.
This year felt like a decade. We are twenty days from the start of a new year, and it can't get here fast enough. I'm expecting next year to be much better because it can't get much worse – right? It's been a wild ride for investors this year, but if you stayed the course, you probably made money. The NASDAQ, S&P 500, and Dow Jones are solidly in the green, despite falling more than 30% in March and April.
During the pandemic, I spent considerable time reading books. I enjoyed the list below and learned much from the authors; though not ranked in any particular order, they could be.
Bubble in the Sun: The Florida Boom of the 1920s and How It Brought on the Great Depression – Christopher Knowlton
A few individual stocks are soaring this year, like Zoom, Peleton, DraftKings, Pinterest, and Bill.com – each one up more than 225%, with Zoom leading the way, rising almost 500%, far outpacing the Dow's gain of 7.75%. It seems logical to sell boring index funds to buy high flyers; after all, who wouldn't want to earn 500%?