Even the judge in his case had to recuse herself because her husband worked for FTX. You just can make it up. Bernie Madoff looks like a choir boy.
I’m not a New Years’ resolution guy. I try not to set a date to improve, we can all do that any day of the year. Today is the first day of the rest of your life right? We’re all a work in progress, we’re human and we make mistakes.
But I will address the New Year for the stock market, there will still be huge challenges (recession, hard landing, soft landing, rate issues, and earnings which still have lower to go), so I think 2023 will definitely be the year of the “stock picker”. I’ll probably get to that next week.
With so much uncertainty about the new year, a cautious outlook seems prudent. Long-term trends and investing norms are shifting. Investors must watch carefully for sector changes and make smart stock picks.
Today was a good day, makes you feel a little better, but we’ve seen dozens of these countertrend pops only to be disappointed a day or two later.
My early thinking will be to focus on biotech and I still like energy for 2023.
Tomorrow is the last trading day of the year.
Thanks for hanging around, I appreciate you guys.