..told me an investment banker during a casual conversation in Miami.
It’s interesting to hear different perspectives when it comes to the game of speculation in stocks. Be it investing or trading in single names, we all speculate in some shape or form. It’s the timeframe that is different. For example, Mr. Buffett speculated in airline stocks for many years before exiting in 2020. Some local guys in Miami told me they never sell a stock cause it eventually goes up anyway. It’s their long-term way to speculate in the market.
Long time no see
It feels great to be back in Miami after several years since my last time here. It reminds me the true scale of the American capitalism. There seems to be so much to do in this city and never get bored. Like the NBA game between Heat and Bucks (photo), which was a great show besides the sport event. Many things come with a hefty price tag, though. The social ladder is so much more visible here compared to many other smaller countries. The gap between rich and poor is wide. Some people live in a tent under a bridge while others drive luxury cars and spend thousands of dollars on entertainment in a day. Consider it good or bad, but that’s just the way it is. Capitalism is the least bad economic system of all the others that have been tried, as they say. White or blue collar workers, most people can still live a better and better life as time goes by.
It’s my fifth time in Miami, but the first time to stay in the high-life neighborhood Brickell, where the skyscrapers are located. I like city views. The one in the photo is not my place, but I liked the view just so much more. Walking in the main street of Brickell or South Beach, dining places are packed and there’s so much people everywhere that it really doesn’t look like a recession yet. That doesn’t mean they can’t have one soon. People were also going out to bars and restaurants in 2008, and this time people probably have more savings than back in the days. Even though I don’t try to predict these macro events or time the market on anything else than pure price action, I think the amount of savings that the money printer has created this time around would need a longer recession to actually show the pain. Here it’s hard not to become even more motivated to keep grinding in the markets when looking around all the possibilities that money can buy.
I know it’s more eye-opening to visit new places that one hasn’t been to before, but I like United States and I like Miami. I might be biased on the US stock market and businesses, but this is currently my #1 spot to travel to. I’ll leave it at that with a video.Share this post