E Stand Back!

Today is Holocaust Remembrance Day. I normally say Kaddish for my maternal grandparents but there is no place near with a Minyan (quorum) this year. They were deported from their home in Hesse, a German province, and moved to an old age home in the Frankfurt Ghetto. From there, they were deported in 1942 in cattle cars to Belarus where they were murdered. Both my grandfathers were German army veterans. My mother did the research in Yad vShem, the Israeli archive. She was their 5th daughter. Because they were too proud to accept money from a son-in-law, they stayed in Germany instead of emigrating as my father's parents did.

The crazy market continues, fed by newbie investors ganging up on short-sellers in Game-Stop and a few other names, including one in our portfolio. The Dow Jones opened down 377 points, about 1.1% while other indexes fell more, the Dow 30 by 1.5%, Q by 1.2%, and the S&P 500 by 1.5%. My personal portfolio lost 1.75% today, despite several holdings at unsustainable high levels. Stand Back!

As China slipped backward, Japan took over as the Asia winner, notably the Zaibatsu Mitsubishi, MSBHF, which rose 5.83%, while rival Sumitomo Mitsui, SMFG, fell an inexplicable 6.47%. Japan's Fanuc (FANUY), a maker of factory robots, which I have long favored, rose 3.15% today. This is nice but may not last given how the market is being moved.

The stocks being manipulated include Finnish Nokia (NOK), apparently being touted at the Reddit chatroom along with BlackBerry, BB, which gained 10.2% and GameStop GME up 122.32% (that is not a misprint), and the hedge funds shorting it mostly capitulated.

While NOK is not a penny stock, it is being driven by players from the fringe market, using stimulus money and ganging up on chatrooms. NOK is up ~40+ % today, an inexplicable rise, to $6.728. It rose 5.3% in pre-market US trading. It hit a 12 mo high today at $4.43.

Also on the upside is Sampo Oij, SAXPY, the Finnish fund group. Investor A/B of Sweden is another popup share, but with a reason, and moreover, it stopped popping because something came up after it hit a new high of SEK 636.8 in Stockholm today, falling back 0.9% there to SEK 631.4. The reason for the rise is that according to today's Financial Times, its private equity arm EQT bought a US outfit, Exeter Property Group for $19 mn which excited the market. Moreover, it reported adjusted 2020 revenues rose 34% in kronors over the level of 2019, to 362 mn, a nice jump. Despite this, it fell 1.26% here. Having reported less than brilliant parent company results Jan. 21, it fell to a lushious p/e ratio of 12.1x earnings, yielding 1.85%. IVSBF and gained from spinning off a bank holding, Nordea.

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William K. 1 month ago Member's comment

I recently got a bunch of spoofed emails, and so that plague IS real.

Thanks for the educational read.