I just wrote this in the Chipotle post. Might as well repeat it here:
In October 1972 Pat Bologna, a shoeshine man, who has 49 years experience on Wall Street an whose customers included Joseph P. Kennedy was asked about the economy. His answer was:
“The people I'm shining are executives, single people or young marrieds. A guy mak ing 12 grand a year with a mortgage and a couple of kids can't afford a shine.”
Less than a quarter later the stock market crashed. The 70s recession had begun.
It's crazy expensive now. I buy a chicken burrito, double wrapped, with a small chip and a small drink, and its $17.41. Just stupid. It should be $13-14 max. This is the f\*ing McDonalds of burrito places. So lame.
Can’t believe everything that was pumping is continue to pump while my positions keep going down. Are people fomo-ing so bad they rotating everything into this AI bubble?