“Youth is wasted on the young.” -George Bernard Shaw
Maybe, over the holidays, you were around some young people. Perhaps you even heard them speak out loud to each other (rather than communicating via text or Snapchat). You might have heard the poetic verse of the reclusive adolescent hominid (teenager), the smartest and coolest being on the planet.
If you were not so fortunate, allow me to share a spoken conversation I overheard. I regret not recording it for posterity.
“My bro, we tried this kinda sus spot down the street, expected mid, but no cap, it slaps. Straight
Allow me to translate.
Bro – buddy [obvious]
Sus – suspicious
Mid – mediocre
No Cap – emphatically true (Cap = emphatically false)
Slaps – really good
Bussin’ – amazing, typically specific to food
Period – final
You are welcome. But a warning… if you are over 17, DO NOT attempt to use these terms! That would be “cringe.” Just sit quietly and nod your head.
To be fair, I suppose this is a phenomenon between each generation. Our grandparents would have undoubtedly scratched their heads when they heard, “far out, groovy, dope, killer, fly, or sick!” – depending on your particular teen decade.
Only second in [perceived] intelligence to teenagers, economists and stock market contributors can be equally as confusing in their comments and descriptions.
Each January, we are treated with the reasoning behind why their predictions for the prior year didn’t quite come to fruition and then they provide us with their prognostications for the coming year.
We are “constructive on the market” with “cautious optimism” while managing “irrational exuberance” and admit it is a “stock picker’s market.” “The trend is our friend,” we will “take a wait and see approach,” and if we have more “sellers than buyers” we will confirm a “bottoming process” and “buy on weakness.”
Translation:
Sounds semi-smart without any real commitment or knowledge of what might happen.
To be clear, I don’t blame these folks. They are asked to be on television or to be quoted in a newspaper and share their opinion. I know, and they know, and the person asking the question knows that they have no idea what is going to happen in 2024.
The reason they say these nonsensical things is because the truth is not fun or entertaining.
Imagine, on live television, a smart looking person in a suit and glasses being asked to share their thoughts on what investors should do for 2024. What if they responded with, “Well, Grace, I have no idea! No idea. The market might be up, it might be down. Interest rates might go up, they might go down. Individual investors should stick to their individual plans and invest based on those plans. Grace, I guess what I am saying is they [the individual investor] should completely ignore us.”
It would not make for good television, but it is exactly the right answer to the question. Never going to happen – no cap.
As it pertains to the talking heads of the season… watch, listen, be entertained, but be reminded that they do not know you or the future.
As always, I welcome your questions about anything. Also, if you have questions or concerns about your overall path or plan, let's schedule a time to visit.
My Best,
Ryan