Maybe the only thing more stressful than watching Olympics gymnastics is watching athletes' families watching Olympics gymnastics. And about the only thing more stressful than watching athlete's families watching the Olympics gymnastics is watching all of us watching our investment portfolios today. After rising to new heights, our portfolios just got the twisties mid-air and now we're all holding our breath hoping the market can stick a soft landing. Many investors were forced to sit on their hands (or cover their eyes) during the tumbling exercise as Schwab, Fidelity, other online trading brokerages appeared to go dark during the market sell-off. The only thing moving faster than panicked trades are self-certain think-pieces assuredly explaining exactly what's happening. But short term market movements are hard to explain and even harder to predict. I'm just glad I recently rebalanced my portfolio by shifting money out of stocks and bonds and into Xanax. Here's the latest from CNN: Global stock markets plunge. (Forgive any typos today, it's difficult for me to write from the fetal position.) 2Strapped"It’s a diverse group: Over half are women and the majority are Black, but there are white and Hispanic students, too. Some are as young as 18, and a handful are older, but most of them are 20- and 30-somethings. Several are new to firearms or are planning to get their first gun soon. Everyone is there for a common reason: to complete Illinois’s required training to get a concealed carry license, which will allow them to bring their guns in public. Brown teaches these classes most weekends. For the past few years, he says, they’ve been packed." Similar scenes are increasingly playing out across the country as America somehow is buying even more guns. Vox: What happens when everyone decides they need a gun? "Previously, American gun sales were driven by a small number of people: overwhelmingly white men adding to their existing gun collections. The people who bought their first guns during the pandemic were different." 3BracingActually, there's something that makes me a lot more nervous than watching the stock market. Watching the Middle East. "Joe Biden will convene his national security team Monday to discuss developments in the Middle East as the region braces for an Iranian retaliation to a series of assassinations blamed on Israel 10 months into the war in the Gaza Strip." Biden's ceasefire efforts have been repeatedly thrown under the bus by Netanyahu. In that sense, Biden has a lot in common with Israeli security officials. NYT: "A quarrel between President Biden and Prime Minister Benjamin Netanyahu over Israel’s approach to cease-fire talks mirrors growing domestic tensions between Mr. Netanyahu and senior Israeli security officials over his perceived resistance to a swift deal with Hamas." 4Five Ring CircusAfter years of work (and almost that much trash talk), Noah Lyles won the Men's 100m by a nose. Actually, by a torso. One of the biggest Olympics events was also one of the closest. Lyles grabbed first place ahead of Jamaica's Kishane Thompson by .005 seconds. How Lyles' torso decided greatest Olympics 100m final. And here's a photo breakdown of Noah Lyles' 100m win. 5Extra, ExtraExpelled by Students: "Sheikh Hasina, the longest-serving prime minister in Bangladesh’s history, resigned and fled the country on Monday, bringing a tumultuous end to her 15-year rule as an extraordinary wave of protest succeeded in toppling her government. Her ouster came after weeks of relentless protests and clashes with security forces that have killed nearly 300 people." BBC: How Bangladesh's protests ended Sheikh Hasina's 15-year reign. 6Bottom of the NewsThere's still one guy we can count on to remind us that, yes, political news can always get weirder: RFK Jr. admits to dumping a dead bear in Central Park, solving a decade-old mystery. |
Monday, August 5, 2024
Tumbling
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