There is Nothing Ever Really New.....

In The World - has never been one of my favorite sayings. In fact, it’s a forlorn and jaded, glass almost empty view of the world that ignores the love in the the eye of a mother looking at her baby for the first time. Sure there are millions of other babies born every year - but this one is special and completely new to her. Other sayings that perhaps have a better grip on reality:

Nothing Ventured - Nothing Gained.

Every Dog Has Its Day.

Karma is a…well…You Know.

…24 - 0…

As I remember it - it happened way back in 1989 and in some respects I suppose it reminds me that sometimes things just go so bad so fast - that you are just temporarily dazed and confused - At first you are shocked just like that erstwhile Deer In The Headlights… then the fight or flee instincts kick in and you have to decide whether you get back in the fight or just stay down.

The Memphis Tigers were playing the Louisville Cardinals - a rivalry equally bitter on both sides. The Cardinals were ranked Top Ten as I remember it while the Tigers were ranked 21st in the nation and Louisville was favored. It was a game of consequence and was a national broadcast. The Tiger’s Play-by-Play guy threw gas on the fire being quoted in the press before the game saying. “If Louisville was playing the Russians I’d cheer for the Russians”. Games in the rivalry were historically fierce and competitive: one year a Tiger player was fouled particularly hard near the Louisville bench and grabbed a folding chair - swinging it wildly around to free himself from a mob of Cardinal players. Guy was cuffed and arrested. During a heated moment in another game someone in the stands tossed an open switchblade onto center court. It is safe to say that Louisville and Memphis are none to fond of one another.

But the game in 1989 was stunning in another way: In the first few minutes to open the game the Tigers ran off 24 straight points while holding the Cardinals scoreless. Here is that sequence:

https://www.youtube.com/watch?v=6DTLq7iGH3s

Now this post has little to do with either Memphis or Louisville. However, it is of importance to note that Louisville decided to get off the mat and get back in the game. In point of fact, Louisville actually took the lead in the second half before ultimately losing by 5 pts or so. And that does have something to do with this post.

The last few days, the start of the 2022 trading season, has walloped us high growth types pretty good. We are back on our heels - with some of us just trying to stay on our feet until the 1st Round Bell sounds. It’s been a swift and stunning assault on our portfolios and if we ain’t down 24-0 then its within a moon cloud’s shadow of it. So what to do?

But - just like the Memphis/Louisville game it’s early and our companies are rock solid. Well…most of them anyway. So we take the market’s punches - maybe play Rope-A-Dope, until the sell-off runs out of gas as it most certainly will…the market is having it’s run; and then we will have ours.

Hunker Down - Control Your Emotions - Breath calmly - Eyes to the Front - Mark Your Target When it Comes.

All the Best,

13 Likes

Very good read.

Down almost 9% today.
Not chickenfeed.

Holding tight,
MoneySlob

Rock Steady MSlob - Remember to use time-outs to your advantage.

All the Best

2 Likes