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No. of Recommendations: 9
I'm not real familiar with Robinhood but I am quite familiar with 1999 and the Internet stocks. We had some guys that bought something called CMGI. It was a company that financed (seeded?) other prospective Internet companies and was constantly going up and splitting. One guy in particular would buy more every time it went down and, for a while, it always recovered. Until it didn't and he kept buying on the way down. I'm not sure if he ended up with any profit at all.

Another guy wrote a day trading book that was sold on Amazon. It didn't have any real strategies and would only work if the market kept going up.

So yeah, things got crazy. I think the housing market is also going crazy again.

I lived in Scottsdale from 2003-2011 where I saw my house going from $300K to over $600K and back to $300K (or less). At least 25% of the people I met were in real estate. Then post 2008 I'd drive down some streets in south Scottsdale and, I'm not kidding, 7 of 10 homes had foreclosure signs on them. Fortunately it didn't hurt me.

Now things are being built everywhere again. My house here is worth more than the one I have in MD. And just down the road from me they are building Ritz Carlton residences (min of $1M) and supposedly sold 100 of them the first week.

I just don't see a real economy here that can support the craziness. Lower paying jobs and once again, speculators from CA bidding things up.

MD is also getting crazy with homes. If there is green space, it seems to end up with homes. Although I think it is too much, at least back there with all of the government jobs, contracting jobs, some technology, etc. there is a much larger base of 6 figure paying jobs unlike AZ.

Maybe it time to start popping the popcorn, kick back and watch the inevitable collapse.

Rich
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