The Bell

CMBX indexes, recurring revenue, and stocks I bought last month

“October. This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August, and February — Mark Twain.

3 months left in this crazy year. This week more links than usual and a list of the stocks I bought and sold (short term plays) last month.

Enjoy and have a great week!

Hedge funds start turning to hotels for next short play – Bloomberg

The question I ask myself: what will happen if hotels, restaurants, malls, start to go bankrupt?

What will happen with all the new real estate space, what will happen with the banks, what will happen with the housing market?

Recurring Revenue: The Rise of an Asset Class

Albert Einstein reportedly once said, “Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn’t, pays it.” 

The Next 5 Weeks All Are Among The Weakest – And Strongest – Of The Year

October is a month that is known for volatility. And that is a well-earned reputation. Crashes in 1929, 1987, and 2008 all occurred in October. But volatility cuts both ways.

Is Compound Interest Overrated?

Michael responds, “If 90% of your wealth comes after age 80, I can’t get excited about that. I think compounding is overrated.”

CMBX Indexes

I’m learning more and more about different indexes and what they can tell us about the future.

SPACs are still bulls***

Since 2015, the 89 SPACs that have completed mergers have an average loss of 18.8 percent (and a median loss of 36.1 percent), compared with the average aftermarket gain of 37.2 percent for other IPOs through July 24, according to Renaissance Capital, which tracks IPOs. Only 29 percent of the SPACs had positive returns.

Stocks I bought in September:
Kinross gold (long)
Taiwan semiconductor (long)
Draftkings (and sold)
Pinterest (and sold)
Bitcoin (long)

The bell is a series about my investing journey, what the market tells us about the future, trends, and the world. Read here the previous post. I think a lot about the future