During a brief visit to New York City, I had a chance to visit with a number of Epik partners and clients. Power-Developer, Kenny Hartog, kindly opened up his home for a late night visit following DomainFest. During a far-ranging discussion, Kenny asked me about stocks. He was surprised to learn that I own no stock and no bonds in any public company.
Exactly one week ago, I posted in my blog that I detected an “inflection point” in the economic outlook. I further stated that the Double Dip in the US economy was already under way. Looking at Thursday’s trading activity on the equity markets, I would say I got that one right — all 30 of the Dow Industrials were down.
The fundamental economic story is weak and getting weaker. The available policy levers are not addressing the structural problem of unemployment in the Western economies. Beyond the troubling fundamentals, it is perhaps the technical story that is even more curious — something called the Hindenburg Omen.
To be clear, I am not categorically against stocks or bonds. In fact, I started trading equities when I was 12 years old. However, from a market timing perspective, I find it difficult to make a case for why anyone would want to be long on public equities right now.
If your investment strategy requires you to continue to hold stocks, I recommend selling banks, insurance and consumer durables, and keeping energy, mining, consumer package goods, agriculture and telecom. As for bonds, I don’t see how they go up materially from here.
So, with that, I offer my free and unsolicited advice:
Sell stocks and bonds in August, and buy domains and websites in September!
Check out some of these confirmed low reserves for the September 16 live auction for income-producing websites:
- ComputerHardware.net – $5,000
- UltrasoundMachine.com – $10,000
- SEO.mobi – $2,500
- AbdominalTrainer.com – $4,900
- HoodedRobes.com – $850
- BeachBags.net – $750
Also, low reserves for developed premium sites that combine great domains with turn-key websites that are ready for entrepreneurial owners to take the businesses to a whole new level:
- HardDrives.com – $175,00
- Complain.com – $125,000.
- Slideshow.com – $1.75 million
- Maid.com – $325,000
- Snoopd.com – $5,000
This is just a small sampling. There will be a total of 100 live auction assets, and 200 extended auction assets. Pre-bidding starts August 31, and the live event starts on September 16 at 1:30 pm PST. More details at the Epik Developer Conference website. Look for more news in the coming weeks as we gear up for this exciting event.