Monday morning, October 31, 2022
Happy Halloween! (If you’re into it)
And best of luck to all the Australians who are going to throw their money onto a horse…
Hello everyone,
The market is still on a bullish trajectory. But, in all probability, this will end with another significant sell-off. When this happens, expect to see/hear bearish market sentiment to grow louder and more raucous as the TV talking heads/strategists start to wring their hands about the possibility of new market lows. Take this as your sign to start buying – the doom and gloom environment is mostly a great buying opportunity, which would enable you to position yourself well for the strong advance over the coming weeks/months.
Bitcoin continues to trade in a consolidating pattern. It is only when this consolidation is resolved will the next technical trend move occur. It is possible that Bitcoin may mount an attack upon $25,000 resistance, and then sell off to make new lows. This is a theory, that’s all.
Fashion on the Field
I hear it’s going to be a bit chilly for all those that dress up for Melbourne Cup Day. Spaghetti straps, short skirts, flimsy material or overalls (whatever takes your fancy), and the 4-6 inch heels may prove challenging today, unless you are one that prefers to be fashionable and “seen” over comfort and warmth. I wish you luck holding on to the hat…as well as your dress skirt and your bag… and your glass of champagne!!!
Let’s talk about climate change…
It’s a topic that’s still so divisive and yet it is happening before our eyes. Last weekend the New York Times devoted its whole magazine to this issue. Even in ten years’ time, the changes will be marked in our world. There will be plenty of opportunities for investment, I’m sure. To stabilize, the world’s temperatures at the cooler end of two degrees is going to need an enormous transformation of all the human systems that gave rise to warming: energy, transportation, agriculture, housing and industry, and infrastructure. Migration, not only of people but of wildlife, will create new viruses as humans and wildlife encounter each other. For example, as the NYT reports, “a single bat, escaping a warming habitat, might carry a novel virus hundreds of miles, …from a cave in South Asia to the foothills of the Himalayas, infecting cattle or people and spreading exponentially from there. Some will have a limited effect, but covid-19 has given us a taste of how disruptive just one global pandemic can be – imagine a new “pandemicine” could deliver several at once. What a thought!
As the Equator becomes too hot for humans and many species to live there, huge migrations will occur. Many from Africa are already making the journey to parts of Europe. Wildfires will be common, and millions will die each year from the heat.
Infrastructure will change. Buildings will be designed to keep people cool. There will be more tree cover, smaller windows, water misters along footpaths. One report from McKinsey estimated that, in some scenarios, a transition to net zero emissions could generate more than $12 trillion in annual revenue gains, and not just for solar entrepreneurs.
Transportation and buildings is where investments will be made.
More to be said about this topic later this week.
Will the RBA increase rates today?
In other words, do you shower the horse with money, or do you buy food and pay off the mortgage with it? For some people, this is how they are thinking.
Have a great week.
Take care.
Cheers,
Jacque
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Being entirely honest with oneself is a good exercise.
Sigmund Freud
