Tesla (TSLA) got added to the S&P 500!
The stock is taking off like a Space X rocket in Futures trading, up about 15% and boy am I glad we stopped shorting them! Of course, now they are going to make a tempting short again as $500 is clearly ridiculous as that's about a $500Bn valuation for a car company with $25Bn in sales and about $2Bn in profits so call it 250x earnings back at the highs.
Being in the S&P doesn't make you more valuable but it does force index fund managers to buy your crappy stock and that will give all the hedge fund manipulators who have been playing games with TSLA for years a chance to head for the exits into the volume buying spree as the index fund managers (the guys using YOUR retirement funds) are forced to buy TSLA at ridiculous prices. See what a great scam that is?
That's one of the great ways the rich get to force the poor to give them money. Other fun ways are payday loans, Payroll Taxes, Unemployment Insurance, Social (in)Security, ETFs, Rental Properties, Leases, Church…. (see: "The Dooh Nibor Economy"). We've done extremely well for ourselves during this pandemic as the market has flown higher but, a week before Thanksgiving – I think the party is truly over for the year so I URGE YOU to CASH OUT any positions you don't want to see through a 20-40% correction – because that is a very likely thing in the next 3-6 months.
Our last Long-Term Portfolio (LTP) Review was back on October 16th and, at the time, we were at a very healthy $1,070,623 – up 114% for the year. We got very aggressive with SKT and I discussed SPWR, T and WBA as still being great new trades and those all went very well:
Other than that, we left the porftolio alone and that was a great decision as it, along with the market, has blasted higher and now we are at $1,295,033 – up 159% for the year…
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