Don’t worry I have not disappeared, I just took some time off from writing. There were simply too many other activities to occupy my time after hours, such as: my appearance on CNBC (there is a problem with the link to the video, but once available I will pass on to all of you); talking at the Las Vegas Money Show, getting some swim time in as a heat wave hit the Las Vegas area (it was over 100 degrees for a few days in a row); reading semester-end papers and entering final grades at Seton Hall University; celebrating the Shavuot Holiday ( I cannot wait to eat some meat); and, of course, the Stanley Cup Playoffs (more on that later). On the downside, some bathroom renovations in our home here which should have take a month at most, is now in its fourth month, taking away some after-market time from my schedule. Then unexpectedly, our oven died. In case you are wondering, we went to Home Depot (HD) for a replacement.
As for the markets; small cap stocks have sprung back to life with the Russell 2000 (RUT) surging to a new all-time high. The Standard & Poor’s 500 (SPX) is forming that right side of the “W” formation that I recently wrote about. Apple (AAPL) once again took back its mantle of leadership, making its own all-time highs. That stock is now about 8.5% away from becoming the first $1 Trillion Company. It would have to rise to about $203.50 to achieve that milestone. It is not a matter of if but when that will occur. AAPL makes the $6 Million Dollar Man seem like a piker.
Tech stocks have followed in AAPL footsteps. One stock that I have been aggressively adding to since taking it on as new position in March is Palo Alto Networks (PANW), which is the 4th largest position in the LakeView Growth Portfolios. Right behind PANW is IAC/Interactive (IAC), now our 5th largest Growth holding. I began to accumulate the stock also in March and then held off after the stock got trounced on some Facebook (FB) news. I waited for the stock to stabilize and then rebound; thus, allowing me to buy some more stock on the dip. IAC is not only a cheap growth stock, but it is headed up by one of the all-time best CEOs in American corporate history, Barry Diller. In my opinion, Diller trumps Mark Zuckerberg, any day of the week, any day of the year; hands-down.
The Vegas Golden Knights, in its inaugural season has played its way into the Stanley Cup Finals. Less than three years ago I, was one of the early future season ticket holders to make a deposit (the Wall Street derivative expert in me, locked my ticket price in for five years). Less than two years ago the NHL awarded Bill Foley the Las Vegas franchise. The team did not obtain its first player until last summer. Now history is being made. The team captured the Pacific Division Championship, dispatched the Los Angeles Kings 4-0 in the first round of the Stanley Cup Playoffs then the San Jose Sharks 4-2 in the second round and finally the Winnipeg (I call them Losipeg) Jets in the Conference Championship 4 games to 1 (after losing the first game).
The team has helped to heal the city’s wounds from the October 1 shootings at Mandalay Bay. It has also helped me recuperate emotionally from the many health issues I have battled over the past year. It has been a nice diversion for our middle son, who works at Mandalay Bay. Our youngest son, who was never a hockey fan. is all in with the Golden Knights. My wife who was skeptical about going to games, now loves to go and has even greatly improved her knowledge of the game. She even has a favorite player, defenseman, Luca Sbisa.
Go Knights Go !!!
Finally, congratulations to all my family, friends and SHU students who are celebrating a 2018 graduation.
Disclosure: At the time of this commentary Scott Rothbort, his family and/or clients of LakeView AssetManagement, LLC was AAPL, FB, IAC, PANW, IWM, SPY, SSO and SPXL — although positions can change at any time.
Scott Rothbort is the President & Founder of LakeView Asset Management, LLC, a registered investment advisor specializing in high net worth private wealth management. For more information on investing with LakeView Asset Management, LLC call us at 888-9LAKEVIEW or request more information by clicking on the contact button on the top right hand corner of the website. LakeView Management, LLC is a Nevada LLC, with its principal office located in Henderson, NV and branch office located in Millburn, NJ
Scott Rothbort is also the publisher of the LakeView Restaurant & Food Chain Report, a newsletter focusing in on food, restaurant, beverage, and agricultural stocks. An individual subscription to the newsletter can be ordered at www.restaurantstox.com Furthermore; Scott is also a professor at the Seton Hall Stillman School of Business in South Orange, NJ.
– Read Scott’s intra-day thoughts and comments on Scutify for which he is a co-founder of its parent company Wall Street All-Stars, LLC
– You can email Scott at email@example.com
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