Transcript
Everybody, welcome to Wednesday, S&P 500 was up .9%. Again, it was not led by technology for the fourth day in a row. And so you know, that’s one of the questions that comes up is, hey, should we be lightening up on our technology and kind of participating in some of these other categories? I do think at some point in time, we will start to broaden the portfolio and catch all of those categories by doing that, using you know, more S&P 500 or more total stock market index and those types of things. But in the short term, I’m really happy with where we are, it is important to look at what companies were talking about that are in our portfolio and really to kind of conceptualize that.
So, you know, the big companies that are in our portfolio in terms of percentage, of course, in Microsoft and Apple and Amazon and Nvidia, Adobe, Salesforce, Intel, Oracle, Google, Qualcomm, Texas Instruments, DocuSign, etc. So these are companies that have, you know, significant earnings, and really, really well positioned for what’s happening here. And very viable companies. The last time we had sort of a narrow run up in the tech arena was in the 2000 downturn, so ‘ 98, ’99. But the big difference here is that these are the big companies with earnings that back at that time, if you recall, a lot of companies didn’t even have earnings. And even those that did, like, let’s say, Cisco, were selling at multiples that were so ridiculous, that’s not happening now.
Now, these things are expensive. I think they’re probably, you know, stretched pretty far out. And that’s maybe why we’re seeing and backed up a little bit. But I’m not really ready to kind of give up on that segment yet. We are making money. We’re not, you know, I look at it this way. My first objective is not lose money, I deal with people’s life savings, try not to lose it. Second thing is try to make money. Okay. Third thing is try to beat the market. After all expenses. That’s what we’ve been doing this year. We’ve been way ahead of the market after all expenses. And so that’s the that’s the part we are making money. We’re making money right now. And so I’m happy with that. Let’s just wait and see what happens. And we’ll just if we need to going forward. So thank you very much, and I look forward to talking tomorrow.