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Friday Fun Thread for October 7, 2022

Be advised; this thread is not for serious in depth discussion of weighty topics (we have a link for that), this thread is not for anything Culture War related. This thread is for Fun. You got jokes? Share 'em. You got silly questions? Ask 'em.

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How are everyone’s stocks doing? Market was obviously overvalued, but I thought the fed would be even more anemic than it has been, so inflation would devalue it, not straight-up losses. I tried to crash-proof my portfolio with gold miners, but they’re the worst of a bad bunch. You’d think with the inflation and gold’s historical reputation, it wouldn’t move 1-to-1 with the stock market (or the printer, same thing). But it’s not a loss until you sell, so in for a penny, in for a doubloon.

Fortunately, the oil stocks I bought during covid have been keeping my head above water. Now I’m just waiting for spy to go lower to I can lever it to hell, either through leaps or 3x etfs .

And thanks to the guy on here who recommended tobacco based on historical overperformance, that’s been good. I’ll crash-proof it to the (black) gills with cancer next time (it’s okay, I used to smoke).

I’m down 10% for the year although I don’t really have the time to actively manage it. I hold a little energy (VDE) which is the only reason my NASDAQ heavy portfolio isn’t substantial worse. Will need to look into tobacco… that sounds like a good idea potentially.

Here's the blog post about industry returns (table at the end) : http://www.philosophicaleconomics.com/2015/09/industry/

I think some industries are a terrible investment. It's always the same sectors: You hear about airlines never having made money, a steel company is always going bankrupt, and even buffett had a lot of trouble with his textile company. Boom-bust cycle in capital intensive sectors kills the return. You end up selling product at a loss half the time because you're stuck with all this unmovable machinery. For the winners otoh it looks like a 'sin stocks' effect.