2019 Wrongs And Don't Play With Matches.

Just a very brief overview of some of the critical events in 2019:

Paul Krugman, a Nobel recipient, predicted the market would collapse - wrong.

Liberal New York Jews believed Trump would be anti-Semtic - wrong.

Democrats believed Trump colluded with Russians - wrong.

Brilliant liberal academics accused Trump that everything he was doing would turn European Allies into enemies - wrong.

Democrats attacked Trump because of he argued trade policies had stifled America's economy - wrong. (In fact Pelosi has taken credit for the new trade bill that was recently passed by The House.)

Withdrawal from the Paris Accords did not cause a volcanic eruption in Hawaii, nor fires in California and Australia. The first was nature at work and the latter two involved poor ecological policies by Greens with respect to forestation management. (According to various members of the Democrat Party the world will end in less than a decade so the best advice I have for those who believe these dire predictions is drink and be happy and do not play with matches.)

The mass media continue to attack everything Trump does because he is proving to be right about so many of his policies and the fact that he is proving to be right is both a thorn in their side and frightens them because elitist's power is slipping from their hands.

Nunes proved his allegations and research regarding The Steele Report and its improper use was correct and  Schiff 's allegations proved him to be an unmitigated liar.

Mueller also proved he is past his prime and after his presentation it is highly likely his senior staff member, Weissmann, who is a biased Clinton supporter, highly controversial and rebuked former Justice Department Attorney was intimately involved in drafting the report and influencing the direction of the investigation.

Trump's appointments of Federal Judges/Justices at the District, Circuit and Supreme Court level is probably one of the most indelible and favorable developments. The impact of these appointments cannot be fully predicted but it would appear a significant shift back toward interpreting the language of The Constitution as opposed to making legislation from the bench will take hold.

Democrats are so frightened by Trump's successes and fear his re-election could be a reality so they have impeached him.  In doing so, it would appear, their efforts have boomeranged as I constantly noted they would.

Most politicians live in a bubble along with their mass media lackeys. They believe, as Hillary noted, Americans are stupid and what those who live in  New York and California believe and do is a beacon of light for us deplorables. Wrong again.

How McConnell responds to Pelosi's gamesmanship has yet to unfold but one would hope he will shut her down, as is his constitutional right, and put an end to this lunacy.

Stay tuned.
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I still manage a small sum of money for clients who have been with me for eons and this is the year end letter I sent:

Performance improved  this year due to positive market conditions and a favorable return to value investing. My focus on health care, financials, utilities, REITS and some  technology names helped performance.

Whatever positives  experienced  they continue to be undercut by my persistent focus on energy, energy related, basic industry and raw material stocks. My bet on a broad worldwide economic recovery and infrastructure investment proved premature and impeded by Impeachment priorities but reports indicate shrewd investors are beginning to pile into energy related stocks, world economies seem to be stabilizing and beginning a modest uptrend and this should bode well for energy related and  raw material stocks.

  
My 2019 market outlook for  favorable earnings was correct and currently,  I see no recession in the offing in 2020. The Fed remains accommodating, trade issues are being resolved and the impeachment process appears irrelevant in terms of market sentiment.

America remains divided on a variety of  fronts and deficits mount.  I expect corporate earnings to be more subdued but still positive.  Therefore, the outlook remains a mixture of decent economic news set against a mosaic of political uncertainty and a moderately improving  world economic outlook.

Trading activity is completely influenced by professional trading and hedgees whose performance remains poor.

The market could surprise on the upside but, even assuming that, much seems already discounted.

All that said, nothing Trump will ever do will find overall acceptance and, as long as the mass media turns everything Trump does into a negative that creates a"WALL for Wall Street"  Another negative could be an outbreak of a military confrontation with Iran, N Korea - who knows.  

I anticipate Trump’s removal from office highly  unlikely.

If any one of the current Democrat candidates become victors in 2020, in my biased opinion,  the consequences would range from poor to devastating both for the stock market, our economy and The Republic.

I will be more than happy to discuss anything on your mind. 

Wishing you the healthiest and happiest of New Years and thanking you for our long relationship. Me

And:

World's Richest Men Secretly Pump BILLIONS Into Oil Stocks 

"John Paulson quietly spent $305 million. Ken Fisher poured in $200 million. And Warren Buffett just invested $10 billion. These billionaires are convinced oil stocks will soar -- and they're wasting little time, discreetly "loading up". But you don’t need to be rich to make a fortune in oil..."

I am contemplating buying or adding to these stocks:  ACUITY BRANDS (AYI),Delta (DAL), BAKER HUGHES )BKR) and for speculation CRISPR Therapeutics (CRSPR)

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We leave Sunday to return Dagny and Blake to Florida so they will be ready for school Monday. They are a delight.

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Dick
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