Today I see the QQQ struggling to break ATh on it’s winning streak. Like many investors, I have no reason industrially to believe information technology area is worth 2.5x what it was worth in 2020 spring. It was overvalued then, and now, well, goldilocks is about to meet the bears and say – well, I want it that way (pointing to the cold bowl of oatmeal). Listen. When a blow-off-top manifests, it’s easy to buy in. Just like the head and shoulders doesn’t seem like a head when you are standing on the head. But srsly – we are standing on the head, and boyo Jack is going to cut this beanstock now, and either the giant falling down is going to crush us, or we’ll make off with the golden goose. My current allocations: 58% Treasuries earning north of 5% in the “$BIL” etf (a much better hedge than bonds, now that correlation has resumed between bonds and stocks), and 42% Worth Equities, with no holding having a P/E above 30, and with all holdings having positive Earnings, Positive Growth, and ROE above 20%.

That is what fundamental investing is, folks. I own companies that earn money and project to earn money. I don’t own hope. Anyone owning hope is in delusion. Own fundamentals. And join me on the side with all your portfolio in BIL, and laugh at the next 10 years of consolidation. I estimate nearly 0% overall growth in the tech sector over the next 5 years, and AI will create as many problems as it solves – a net loss, in my opinion.