‘Hedge Funds, LOL’
4. The consumer staples sector of the S&P is up 47% since the peak of the S&P 500 in 2007 while the broader market is still down 7% five years later. Did you learn anything? Here’s what you should have learned: Even in the very worst of times, people still have to get out of bed, make their kids breakfast and put them on the bus to school. They will die before they stop doing that, no matter what kind of recession/depression/crash you think is afoot. Before I let my kids go hungry, I will work three jobs and then kill a hobo to sell his organs. And you will too. Invest accordingly, end of lesson.
Josh Brown is an investment advisor in New York City who runs The Reformed Broker, his commentary blog covering the markets, politics, economics, media, culture and finance. Yesterday, he posted 10 pieces of advice “hard-earned over a career spent mostly fighting for what I felt was right,” and it’s really great. I love Josh’s commentary on hedge funds, which he sums up as, “Hedge funds, lol.”