Speaking to my Banker friend
After all that has occurred he's now buying
My long-term friend, who is very successful in the banking world, who has a rolodex (if you don’t know, I’m just not going to help explain the term), has been a great barometer of tops and bottoms when he wants to buy.
No, this article is not about roasting him like Kevin Hart; it's about sharing some of our chat and maybe providing some insight.
It’s clear the view of the market is a casino, and he didn’t see blue-chip companies with +3% yield. He’s already wealthy, so he just wants something for a rainy day.
He even asked me for some ideas for 20 years down the road (something I’ll share in another post).
But today, he was interested in Nike. And I said the timing is good just look at the headline.
He was confused why this should be positive, and I said, because it’s not news. This is old news, and usually old news that shouldn’t be shocking is the one last gasp before a bottom.
He then mentioned Cleveland Cliff, which now owns AK Steel, which is located in JD Vance's hometown. The steel they make is highly precise and could finally see a rally if domestic demand begins to pick up.
Tractor Supply. Is it a barometer for the farming community? What other options are there than TSCO? Or was it self-harm when it took on political viewpoints completely opposite to those of their customers?
And, Huntington Bank, where he thinks it will be bought out, as the CEO has done nothing good for the bank?
I said why not options?
I don’t understand them.
What’s there to understand?
You think it’ll be higher in 2 years, why tie up your money?
I like seeing my stocks appreciate through dividend growth
But it won't grow if it’s bought out?
Regardless of my convictions, he’ll do what he wants to do, which makes markets. What we are watching in real time is hard to define, but generational in Trump’s trip to China with its cadre of business executives.
And the Clarity Act, the crypto legislation, is set to pass in a bipartisan manner.
With banks debanking Conservatives and possibly other shenanigans, this act is a rebuke to them and…
Bipartisan.
Our definition of money is being legally changed in front of our eyes, make no mistake that it’ll be essential to understand what a currency is.
And I’ll be updating, I hope, more of the book more often through the podcast. Along with that, I’m undertaking an adventure in business and AI that I hope you will find interesting.
Have a great evening,
Eric