It’s been quite a year, has it not?
There’s been a robust run in stocks for most of the year, culminating today with the Nasdaq Composite breaking above the 20,000 mark and setting yet another new, all-time high.
Then there was the election, where former President Donald Trump won a decisive victory over a Democratic Party that’s lost its way on so many of America’s most important issues that voters soundly rejected them in both the executive and legislative branches.
Then there was the Federal Reserve and the return of lower interest rates, as Fed Chair Jerome Powell and company began the process of “normalizing” interest rates with multiple reductions in the federal funds rate this year, and likely one more cut to come next week.
Then we had the ongoing geopolitical turmoil, with war continuing to rage between Russia and Ukraine, and especially between Israel and Hamas, Hezbollah and other Iran-backed, anti-civilization proxies.
Finally, there was the rise of cryptocurrencies and the initiation of mainstream exchange-traded funds (ETFs) pegged to Bitcoin and Ethereum. This acceptance by mainstream ETF issuers of cryptocurrencies as a legitimate asset class to own has been tremendous for the space, and it’s one reason why we rolled out our newest premium service, Jim Woods’ Crypto & Commodities Trader.
Today, I’ve decided to answer a few of your questions in this, the final “Ask Me Anything,” or AMA, of 2024. So, let’s get right to it, because as I am fond of saying… all we have is now.
Question: Jim, what do you make of the chorus of cheers that have accompanied the murder of UnitedHealthcare CEO Brian Thompson?
Answer: I think it’s a complete abomination to celebrate the murder of a man who does his job and who creates value for shareholders and for society. Yet, I must say that I’m not surprised at the reaction from some corners of the anti-capitalist, anti-“big health care” forces of socialist darkness. To those in this dark camp, it’s the greedy capitalist pigs who run the “system” for the “wealthy” and at the expense of the “little guy.”
Unfortunately, the problem isn’t that the health care system is rigged against the little guy. The problem is that the system is rigged against reason and capitalism. A great article posted to Reason.com today, “The People Cheering Brian Thompson’s Murder Can’t Have the Medical Utopia That They Want,” explains that the real issue with health care is that a third party pays the bill. Another way of saying this is that there is no real capitalism in health care, which is why care is rationed seemingly unfairly and why costs are so high and so closely managed.
Until a more rational policy is explained properly by those who can articulate it, and who can affect change, there will, sadly, be more Brian Thompson-like incidents and more ugly celebrations of violence.
Question: What is your favorite watch brand? I know you’re a horology enthusiast like me, and I know you’re fond of a few of my favorite brands as well. Please tell us! Cameron C.
Answer: Cameron, this is easily my favorite question of the past year. First, because I love to nerd out on my hobbies with fellow enthusiasts, especially when it comes to horology (that’s the study of time measurement and the art of watchmaking). Second, because life is more than just money and politics and stocks and cryptos. Life is also about the smaller pursuits that give us big pleasure, even if they aren’t important to others.
Now, to answer this question directly, I own many watches and am a big fan of many brands. I also have favorite brands for specific pursuits, such as swimming/diving, working out, auto racing and dressing up for dinner and formal events. But to be specific, here are my two favorite “God Tier” brands: Panerai and Ball.
Panerai is my favorite watch brand, as its distinct style, bold yet minimalist designs, and rich history (the company made dive watches for Italian underwater commandos during WWII), along with its rabid following called, the “Paneristi,” make it a brand atop my personal list.
Your editor with his Panerai Submersible and an Arturo Fuente cigar.
Ball watches are a close second, in part for their use of color, in-house COSC certified chronometer movements, highest-quality 904L steel and, most distinctively, their use of tritium gas as a source of dial lamination versus the more common luminous paint called Super-LumiNova.
Honorable mentions here, and much more affordable than the aforementioned brands, are Seiko and Casio. I have multiple Seiko divers and multiple Casio tool watches. My favorite of the former is the Seiko “Arnie,” a watch that got its name because Arnold Schwarzenegger famously wore it in the film “Predator.” My favorite Casio is called the G-Shock Aviation Gravity Defier, which has one of the best, most-intricate and “toughest” dials I’ve ever seen.
Hope this gives you a little insight into my horological addiction.
Question: I recently saw you on The Huey Alert Podcast talking about stocks and the economy post-election. Can you do more podcasts like this in the future? Thanks, Bobby V.
Answer: Thanks Bobby, love to hear that you enjoyed my interview with the great Craig and Shelly Huey. Both have been my friends and collaborators for many years now, and I really value them as both business associates and as forces of good in our world.
And a big “yes” to your question about more podcasts like this in the future. I have plans to ramp up my investing podcast profile in 2025, so there will be plenty more Jim Woods over the podscape in the year ahead.
Oh, and in case you didn’t see my episode of The Huey Podcast, you can check it out right here.
Enjoy!
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Say ‘Yes’ to ‘Less’
“If it’s not a hell yeah, then it’s a hell, no!”
–Anonymous
A friend recently told me that her Golden Rule is, “If it’s not a hell yeah, then it’s a hell, no!” I like this, because it’s a way of filtering noise and honing down the cavalcade of choices we face each day. The idea here is that our time, energy and money are finite. That means we need to choose our activities, people and pursuits wisely, lest we waste time on lesser values while short-changing our greater values. Think of it as saying, “yes to less,” and focusing on what really matters to you.
So, the next time you are confronted with any kind of choice, big or small, think on whether it makes you feel that excitable, “Hell yeah!” If it doesn’t, then perhaps you should choose something, or someone, that does.
Wisdom about money, investing and life can be found anywhere. If you have a good quote that you’d like me to share with your fellow readers, send it to me, along with any comments, questions and suggestions you have about my newsletters, seminars or anything else. Click here to ask Jim.
In the name of the best within us,
Jim Woods
