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Trump's war with the world of sports is also, believe it or not, an investing story.
Looking at this from a purely analytical standpoint, several questions arise. For example, do you buy shares of beat up Buffalo Wild Wings Inc. (BWLD) on the belief people head to the bar on Sundays to be part of something bigger? There are people out there who just want to be in the mix so they can put pictures on Facebook-owned (FB) Instagram in the hopes of becoming viral sensations. Not saying this is a good thing by any means, but it's reality. But do you buy some Buffalo Wild Wings as those bars fill up more than Wall Street expected? Not sure. Or, how about all of the people that tuned into the football games on Sunday to see what players would do -- that ratings pop, which could stay around for a while, should theoretically benefit Walt Disney Co. (DIS) (ESPN), Comcast Corp. (CMCSA) and others in media.
How about LeBron James? Does a parent who voted for Trump no longer buy their kids $200 Lebron sneakers from Nike Inc. (NKE) following the star's "bum" comment directed toward the president? Who knows, but it's possible and suddenly Nike is indirectly tossed into the fray. In the meantime, just be prepared for the next presidential tweet ...
Sports fans should never condone players that do not stand proud for their National Anthem or their Country. NFL should change policy!— Donald J. Trump (@realDonaldTrump) September 24, 2017
Richard Sherman wants to address how the President is dividing the country. pic.twitter.com/lWQhR0ARpZ— The Players' Tribune (@PlayersTribune) September 24, 2017
Gold Is Anything but On Fire...
Go figure -- with the world seemingly falling apart investors are dumping gold.
Gold prices are hovering around four-week lows as a more hawkish Federal Reserve has caused the U.S. dollar to strengthen (see gold chart below). The price of the yellow metal has now tumbled about 7% in September.
But, it still may be nonsensical to not have gold exposure according to Amir Adnani, chief executive officer for gold producer GoldMining.
"There are so many issues that puts the Fed into a difficult corner and I think it is silly for someone not to be exposed to gold and have insurance," Adnani said in an interview with Kitco's Daniela Cambone (Kitco is a friend of TheStreet).
"The stock market is at all-time highs, everything is priced to perfection and there are so many issues in the U.S. that puts the government in a difficult position.
He added, "This is the second longest bull market in the history of America - it is very difficult to sustain and why would you place all your eggs in this one basket? Gold is the ultimate insurance at a time like this and investors need to be strapping on this insurance."
Get those gold coins ready to be used as barter in a post apocalyptic 2018.
Speaking of Losing Streaks
The Great cool-down in Tesla Inc's (TSLA) overheated stock looks to be upon us.
Shares of Elon Musk's baby have crashed about 8% over the past five trading sessions, marking the longest streak of losses in more than two months. The move seems to be common sense -- Tesla is beyond the hype surrounding the Model 3 launch and attention should rightfully turn to whether the company can deliver on the car's production goals. While Tesla's big unveiling of an electric semi on Oct. 26 will probably blow up on Twitter, up until then there are few catalysts to keep the stock hot. One could even argue the electric big rig won't be a huge stock driver seeing as it won't be produced overnight.
But hey, at least Tesla's are becoming mainstays at collector car shows.
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