Many retail investors are still upset over being locked out of buying shares of companies like GameStop (GME) or AMC Entertainment (AMC) back in late January. They’re still around, as evidenced by how shares of those companies haven’t gotten back to their pre-gamma-squeeze prices.
Much like those who supported Bernie Sanders or Donald Trump, what’s going on is a sort of populist movement that now has the power to both move markets and expose how the big players rig the game in their favor time after time.
This remains one of the biggest yellow flags to the market, as these ungovernable traders could eventually win big, then take their winnings to cash or the crypto markets, leading to a drop in stocks. With market valuations high and breadth of new all-time high stocks low, it’s another reason to be cautious going into the autumn season.
Precious Metals Prices
Price at week’s end (change over last week)
Gold … $1,818.12 (+2.0%)
Silver … $24.10 (+4.3%)
Platinum … $1,020.44 (+1.5%)
Palladium … $2,446.00 (+6.0%)
Now, here’s the rest of the story:
After the Gold Standard, Government Grew and Dollars Shrank
Most think Nixon’s 1971 decision took the U.S. off the gold standard. In truth, the dollar was already weakening. Here’s why… [Read Here]
Social Security’s COLA Isn’t a Raise
The official U.S. inflation rate remained at its 13-year high in July. That’s cranking up the pressure on Social Security. Even so, COLA is not a raise – here’s why… [Read Here]
Avoid the Herd of Bulls Stampeding Toward the Exit
Every stock market bubble is fueled by irrational optimism and blind hope. When the bubble pops, the prudent are already gone. Here’s how to avoid the brawl at the exit… [Read Here]
August 30, 2020
Here’s to a better YOU … and now … Today’s DarrenDaily Recap Sunday. A collection of the weeks videos from Darren Hardy. Enjoy!
Describing its beauty!!! Saint-Pierre and Miquelon, France. Just minutes from Newfoundland’s southern coast!!!
You know how much I hate to leave France behind.
Your Mental Journey
As you’ve come to know by now, improving your health and fitness transcends the body. It’s just as much — arguably more — a mental journey as it is a physical one. And along those lines, we want to do everything we can to help you increase your mental fortitude. And today’s quote, which comes from Greek Stoic philosopher Epictetus, is a perfect example of how you can sharpen your mental ninja skills:
“It’s not what happens to you, but how you react to it that matters.”
In other words, we don’t always have a choice about what happens to us in life, and yes, “bad” stuff is going to happen. But how we perceive and how we react to life is what truly matters. Think about how much energy can be lost spent worrying, stressing, and dwelling on things that happened — or didn’t happen — or when things didn’t go your way. Was that a good use of your time and energy? What good came out of that?
How did it affect your sleep? How did it impact your food choices? How did it influence other behaviors? Did you skip workouts? Did you turn to unhealthy vices or comfort foods? Did you treat others poorly? Did it distract you? Did you find that you lost focus? Did you end up making poor decisions or even critical mistakes?
Simply put, think about how a negative reaction led to an even worse outcome! Even though you didn’t control the triggering event, your response can lead to a domino effect. On the other hand, think about a time when life threw you a curveball, and you made the difficult choice to respond with resilience, creativity, and optimism. You saw it as a learning experience and a growth opportunity. With that mindset, only good things can ensue. You will always come out on the right side. If you have children, think about a time when something didn’t go right. Think about how you reacted with patience, resourcefulness, and a sense of humor. And think about how your clutch reaction circumvented a catastrophic meltdown, and instead, created a memory. Another way to think about Epictetus’ quote comes from a comes from actor and comedian Jim Carrey, who said, “Life does not happen TO you. It happens FOR you.” Or, as success coach Craig Ballantyne says, “Control what counts, cope with what you can’t, and concentrate on what counts.”
August 30, 2019
In the financial news this morning… Argentina is asking the International Monetary Fund (IMF), and other creditors for more time to pay off $101 billion in debt. Should there be no new agreement on terms, Argentina may not be able to pay, and cause a sovereign default on their debt.
If this happens, it will be the ninth time the country has done so. Typically, bankers learn from making a bad loan or two to a customer, but for the IMF to get it wrong nine times on just one country makes one wonder why the bank is in the business of banking.
NOTE: Sovereign default is a failure in the repayment of a county’s government debts. Countries are often hesitant to default on their debts, since doing so will make borrowing funds in the future difficult and expensive.
And you think you’ve got problems…