Down goes the Dow

SNPS was at 129 as recently as 4 years ago. Now, 600. Wish you had convinced me to buy back then.

I wish I had known about it back then.

Truth be told, someone studying that general field (investment banking) did a class presentation about the company and told me about it. That's how I heard about it.

Meanwhile AI is revolutionizing the World, creating more lunatics:

through a mutual fund I have around $10,000 of this crazy SMCI stock...that has become a $55 bn stock, up 700% over the past year. Some sort of AI connection of course.

Wild stuff. Fun to make some money on the crazy though. The fund is up 10% this year vs a peer group that is flat.

whoa, Whoa, WHOA!

Now first of all, the notion that a mutual fund could be tech heavy, I'm not sure we've gotten that far yet

And second, you almost sound like exposure to the AI Lunacy is a good thing. Have you lost your mind?! Did you even listen to that bearded twerp in the plaid shirt. That alone makes it worth pasting onto an investing messageboard in one of the biggest up days in a year.

heh

the fund was up 4.5% today. Huah.

That will improve my usual getting crushed in relative performance on big tech up days.

Hey Seattle are you actually in Seattle? I need to impress someone visiting the area that I have vast running and natural world knowledge, even of the PNW. Maybe something you don't get from googling 'best run/hike near seattle' or something like that. A stunning view or just a good trail run. Or heck a restaurant either in town or on a mountain somewhere.

Maybe ideal would be a great trail run with view of ranier or the ocean and then a not expensive but charming locavore restaurant. Not asking too much am I?

No problem, will pitch some ideas later this afternoon, if it can wait.

And yes on the seattle part, with lots of ideas.

Off Topic: Seattle attractions

Restaurants:

1. Rays Boathouse is a unique PNW atmosphere - upstairs is more affordable and amazing views of Puget Sound. It is right on the water and is a well-known destination. Mid-price range, entrees run about $17 - $50, with stuff like Salmon and Halibut and Steak on the high end. Food is good.
2. Wooden City Tavern. - For Pub Grub with a modern décor and very open, inviting decor, a place on the north side of Greenlake is in good neighborhood and lots of young vibe, but this is not a major attraction in the city by any means.

3. Nearby is Duke's Seafood, that probably has better seafood, good view of the lake.

Attractions: Parts of town to see-

1. Pike's Place Market is the main attraction in downtown with old Fish Market vibe, a tourist must see spot, with lots of restaurants, etc. Better during the day, closes down at night.
2. Seward Park to the west of downtown is nice sidewalk trail that goes forever, out onto a little island, amazing views of Lake Washington. It's easy to get to.

3.Alki Beach in West Seattle requires driving across a bridge to get to, and a little out of the way, but has a kind of cool beach vibe and a bit off the beaten track. Nice mostly if you want a relaxing stroll along the waterfront with an amazing view of the City across the water.

Running and walking and biking Trails:

1. For a little run with great view of the Puget Sound, Discovery Park can't be beat. Make sure the runners get over to the overlooks on the west side of the park, and the trails lead there, but just check watch for the lighthouse and the overlook (two separate locations).
2. Burke Gilman trail for 26 miles of bike/pedestrian trail that weaves across along Ship Canal, over the north end of Lake Washington, and over to the Eastside (Redmond, Kirkland).

3. Greenlake is surrounded by a nice 2.8 mi. trail to stroll around or run. North Seattle, easy access, near lots of restaurants, coffee shops, etc. Picturesque and super easy access, safe.

Other:
For best weather, consider that Spring rains quite a bit but warm, and sunny months start in July, but August can be smoky some years.

If I think of anything else, I'll toss it up here.

whoah great stuff will read carefully. Thanks much.

In exchange I'll hand back a musical piece I learned today.

Lennon took on loan that white-hot riff to Revolution we all love so much:

And after those "crashes" the S & P crushed it for many years.

Seems like most of these Permabears just sit around all day trying to find reasons to be doom-and gloom about a booming stock market. They can't just let the Good times roll.

* Off Topic, p.2

Okay, my better half had a couple of good ideas.

Golden Gardens is a nice waterfront trail in the same neighborhood as the aforementioned Ray's Boathouse. Just head north from Ray's, it passes wharf after wharf of sail boats and yachts, and affords good views of the Sound and mountains beyond, and it goes for about 1.5 miles up to a little park/rocky beachfront.

Take the Ferry over to Bainbridge Island. The ride is amazing on the ferry, and if you have a car, you can drive on, Many people like Bainbridge shops and walking around. You get a good sense of the Sound on this excursion.

If your friends want to give me a shout, I'm sure I could meet up for a little hello or a run, but I am slow.

That song sounded good!

Perhaps, or maybe the Permabulls continue to stare blindly into the biggest bubble ever, oblivious to the weirdness of a $1.7 Trillion market cap company down 3% one day, and up 16% the next day.

It's market cap is bigger than that, now 1.94 Trillion. (intraday).

But tomorrow it's likely to be bigger.😉

OK, perfectly normal market behavior.

“BREAKING: Nvidia, $NVDA, adds $277 billion in market cap today marking the biggest ever single day gain in history.

This has shattered the previous $197 billion record set by Meta, $META, exactly 20 days ago by over 40%.”

—The Kobeissi Letter

At what point do you think you will come to accept that this is the 'new normal'?

The perennial prognostications about a market that is over extended, too concentrated, and out of whack with historical valuations has been going on now for over 7 years at least, if nor more. The message hasn't changed, it just gets more emphatic.

And all the while, fortunes have been made and re-made.