☕ Once in a lifetime stocks

Good morning! 👋 

Aaaaand, we’re off to the races. 

The nervous nellies and doomsayers have been separated from their money yet again by all the recent selling. And Wall Street’s go-fast crowd (which is now flush with it in their pockets) is getting down to business. 

Here’s my playbook. 

1 - US GDP still hotter than not  

The US Commerce Department reports that the United States economy grew much more than expected in Q2. Real domestic product from April to June rose 2.8%. Economists expected 2.1% percent. 

What catches my attention is that personal consumption rose 0.1%, in line with estimates that put it at 2.5%+ from a year ago. (Read) 

Team Powell may or may not be happy, but that’s beside the point. Wall Street’s trying to get ahead of the fact that he will be. 

Big tech, in particular. 

We talk a lot about the need to play offense even when you must think defensively to do it. I went shopping this week and hope you did, too. 

Keith’s Investing Tip: The volatility that many fear is almost always an opportunity if you’re using the right tactics and limiting your choices to the very cream of the crop. A move I refer to as “buy the best, ignore the rest.” 

2 - OpenAI sticks it to Google (again) 

I have repeatedly warned that GOOG is in far more serious trouble than most understand.  

SearchGPT is yet another shot across the bow. (Read) 

Short, putskies or avoid GOOG imho. 

It’s a one-trick pony. 

3 - LINE IPO: Should you buy it? 

LINE may be worth a look. 

The company is a cold storage and transportation REIT that just launched the largest IPO of the year. (Read) 

As always, though, I want to give it a quarter or two to settle down... then make a decision. 

Keith’s Investing Tip: Many investors feel like they “must do something” straight away especially when it comes to IPOs. But that can often work against ‘em. To a point I make frequently, there is NO rush. If a company’s gonna be good, chances are it’ll be good for a long time to come. Better to let the fast money crowd get their ya-yas out first. 

4 - Ummm. Adobe Exec compares cancellation fees to “heroin” 

My firm used Adobe products and it was nearly impossible to cancel the services when we no longer needed ‘em. Further, we experienced the very behavior the FTC alleges in its complaint. (Read) 

Our new motto around the office is “anybody but Adobe” as a result. 

MyPOV: Many big tech companies are going to find out the hard way in the years ahead that they cannot just bulldoze consumers at will. Meta and Google come to mind, in particular. Amazon is still debatable – but in all three cases, consumer and regulatory ire is building. That’s almost never good for a stock long term. 

5 – Palantir & Tesla: Once in a lifetime stocks

I sat down earlier this week for a wide-ranging discussion with one of the smartest young investors I’ve met in a long time, Hayley Eich.  

We spoke extensively about Palantir, Tesla and other companies. She also asked me to share investing wisdom I’ve picked up over the years. 

I’m sharing it with you today because I thought you may find it both helpful and enjoyable. (Watch)😊 

Bottom Line 

Spoiler alert: the world will change with or without your approval. So will the financial markets.  

Focus on what you can control - tactics, timing, which stocks you buy etc - instead of worrying about what you can't. 

You got this – I promise! 

As always, let’s MAKE it a great day and a strong finish to the week. 

Keith 😊