"Seasons of life."

We are in the habit of imagining our lives to be linear, a long march from birth to death in which we mass our powers, only to surrender them again, all the while slowly losing our youthful beauty. This is a brutal untruth. Life meanders like a path through the woods. We have seasons when we flourish and seasons when the leaves fall from us, revealing our bare bones. Given time, they grow again.

In summary, the line of list resistance continues to be to the upside. The momentum is strong and positive which has made the market overbought in a general sense, but overbought doesn't mean sell. Stay alert, markets can turn on a dime, and don't forget to enjoy the ride.

Contrary to what some believe, the stock market doesn’t trade on some formula or “intrinsic value” such as P/E ratios or price-to-book, etc. If analyzing balance sheets were the Holy Grail for stock investing, accountants would be the world’s greatest and richest traders.

Commodity returns not seen so bad since before WW2.

 

"No one can succeed and remain successful without the friendly cooperation of others."

The best way to get friendly cooperation is to give it. When you make it a practice to encourage others and to help them advance in their careers whenever possible, most will reciprocate when you need their help. Give generously, and you will benefit in kind.