The markets were once again yawning at renewed cautious
commentary from transports bellwether FedEx (
FDX
). With the hopes for oil prices possibly breaking the recent
uptrend, some investors may be banking on the company's cautious
commentary as just a minor blip tied mostly to fuel price
concerns.
Elsewhere, Wall Street analyst calls helped move the needle for
some names. Seeing upside were shares of Broadcom (
BRCM
) on the back of Apple's iPhone sales blowout, as well as Eaton
Corp (
ETN
), tied to a potential rebound in the auto/truck sector. On the
flip side, we saw red for shares of Marathon Petroleum (
MPC
) following concerns about the company's valuation, as well as
Texas Instruments (
TXN
), on the potential for order trends slowing.
It's Just Not Fair
I remember being in high school and seeing how big a deal sports
was for a school. Colleges would come and recruit my school and
many in the area from where I was living. You'd often hear about
the students who were making waves with the universities and the
scholarship rumors would be rampant. It would be hard for some to
handle, considering that academics weren't always factored into the
equation of earning a scholarship. For the non-athletes, it would
be perplexing knowing some of the star athletes would sometimes be
treated differently and were able to get away with much more than
most of the other students. Knowing sports as much as I did and
knowing how hard it was for many of the athletes to make it in the
pros, it didn't matter as much to me. I knew the time to shine was
after the diploma was handed to me and I could make my way into the
real world and pursue my own goals.
The current economic environment we are seeing with many so
dependent on the government and with much less people to foot the
tax bill to keep the current system in place has stirred up
emotional reminders of what I heard and felt from those seething at
the preferential treatment their fellow high school classmate
athletes would receive back in my high school days. I'm sure many
of you that read my daily newsletter could remember similar
instances from your past.
The reality for many star high school athletes is that making a
career in professional sports is like hitting the lottery as far as
odds go. For many that believe government assistance is a permanent
strategy or the financial foundation dreams can be built on, there
will come the realization that making it out of the financial rut
will ultimately take personal initiative. I understand the
frustration from an outsider's standpoint, and what I mean by
outsider, is by someone who doesn't receive monthly benefits from
the government and currently holds a steady job.
It's tough to address this issue without feeling the need to be
pulled into a political debate, but this isn't the point of why I
write this. It's more about pushing oneself to not rely on
continued outside assistance and get into the habit of making your
own opportunities. Back in my post high school days, I'd have
plenty of conversations with close family friends who would often
promise an introduction to get myself working for the local union
(jobs with benefits were the golden ticket). Everyone I knew had a
contact, but when push came to shove, no one really wanted to use
up their "inside" contact unless it was for someone in their own
family. This is how the real world worked then and how it likely
works now. If you put yourself in a situation where you need to
wait for the phone to ring for your dreams to come true, that day
is likely never going to come, and if it does, will likely fall
short of all your expectations.
My life took shape when I came to this realization. You have to
go out and make your own way. It takes figuring things out and
seeing what works and learning from what doesn't. Investing and
building wealth is no different. The promise of quick riches is
often just that, promises. The real money gets made when you stop
and decide to be the best you can be in a particular field that is
well-established and hopefully still growing. Even with that, life
will sometimes require you to pivot into a new area for whatever
the reason is (being laid off, company gets sold, moving to another
area, etc.). The challenges could be immense, but the rewards can
be well worth it. The same thing can sometimes occur with companies
we invest in. For some companies, the best days will soon pass,
while for others, the better times are still to be had.
Things won't always seem fair throughout our lives, but if we
have the dedication and work ethic to succeed, there will be little
in our way to stop us from achieving the financial independence we
all desire. And again, nothing is wrong with getting some help, but
we all know the permanent solution to what is best will come from
within.
Income, Income, Income
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income-producing investments the markets have to offer during time
of heightened volatility. We want to make sure we have only the
most pullback-resistant names on our
Best Dividend Stocks List
. Also, if we see the market putting in what looks like a decent
bottom, we will be prepared to scale up the list of stocks we like.
Stay tuned and be sure to look for
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do your own research, and achieve your goals yourself!
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