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A Tough Start to 2024 and Things I Don't Know
The stock market got off on the wrong foot last week.
Travis Hoium
January 07, 2024
A reminder that Asymmetric Investing is getting some upgrades for 2024. It’s all highlighted here.
Lower $100/year price point for premium
Regular Thursday-Sunday posting schedule
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A great example of the access I’m looking to bring subscribers is later this month, I’ll be at Asymmetric Universe company Virgin Galactic’s spaceport in New Mexico to see their facility, spacecraft, and view a space flight up close. Previews will be available for free subscribers and on social media and YouTube, but ALL content in full will be available to premium subscribers.
I hope you had a wonderful week!
The stock market got off to a rough start to 2024. The Nasdaq 100 dropped 2.3% last week as some of the Magnificent 7 shine wore off. I covered late last year how the Magnificent 7 were extremely highly valued and a pullback is likely. We will see if the trend continues, but I’m still seeing opportunities in smaller stocks right now.
In Case You Missed It
Here’s some of the content I put out this week. Enjoy!
2024 Stock Market Preview: I previewed the trends I’m seeing for 2024. These bolster some of the stocks I have bought recently and will inform a lot of my coverage this year.
What I’m Buying - Jan 2024 Edition: Stock buys for January went out to premium members.
My Top Stocks for 2024 and Beyond: This YouTube video covered the same themes sent out to Asymmetric Investing subscribers early last week and added some stocks to the mix.
Why Coinbase Jumped 418% in 2023: Coinbase is the biggest winner in the Asymmetric Portfolio and it’s a great example of embracing uncertainty and what we don’t know about companies and the market.
Things I Don’t Know
I get a lot of questions like:
Do you think [Stock X] can reach [Price Y] by [Time Z]?
Is [Stock X] a buy under [Price Y]?
What’s your [Stock X] earnings estimate for 2024?
It’s understandable. People want answers and specific advice.
But the answer to these questions is simply “I don’t know.”
I can guess. I can make the guess sound smart by building a complicated model and calling the guess “intrinsic value”. I can pound the table about how undervalued something is based on expected growth rates or forward earnings multiple. But this seeming certainty is still based on a guess.
In 2024, I challenge all of you to embrace uncertainty and accept there’s a lot that we don’t know about investing.
Opportunity lies in uncertainty.
Rather than looking for certainty, look for direction. Understand what direction a company is going and how to measure success/failure along the way.
Learn to challenge the bull and bear case for any stock you own. How can the stock go to zero? How could it go up 10x or 100x?
Embrace the uncertainty of investing and you’ll have the mindset to find, buy, and hold the stocks that can go up 10x or more in a decade.
I’ll be back on Thursday.
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Disclaimer: Asymmetric Investing provides analysis and research but DOES NOT provide individual financial advice. Travis Hoium may have a position in some of the stocks mentioned. All content is for informational purposes only. Asymmetric Investing is not a registered investment, legal, or tax advisor or a broker/dealer. Trading any asset involves risk and could result in significant capital losses. Please, do your own research before acquiring stocks.
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