That’s right ladies. I have gotten hosed in years past when I stubbornly held on to a declining stock. Not this time.
I went all contrarian and sh*$T on this one and it’s nearly time to harvest the crops. Up 63% year to date. And climbing.
Palantir has signed a couple of big contracts lately. One with NATO, another with the Department of Defense, and most recently one with one of the GSE’s Fannie or Freddie, I forget. Speaking of the GSE’s, lots happening there with talk of taking them public.
Housing is getting interesting, mortgage rates are staying high and Buyers are staying home ( away from open houses). The balance of power is shifting to Buyers for the first time in, maybe, a decade. We need a job recession to light the match of distressed sales and significant price drops. As usual pockets of Fla, Texas, Az are leading the slowdown. Mostly builder inventory getting affected. California still going strong for now. Just not enough houses being built in California. Foreclosures are up nationwide but still way below historic levels. I’m doing my part, I have 19 active foreclosures right now on loans I bought. 2 in Az, 2 in Fla, and 15 in California. Almost got to own a single family residence in El Cerrito, Ca. Had the auction date scheduled for May 29 and the borrower paid me off on May 28. I bought the delinquent loan 6 months ago for $66,000 and I collected $250,000. I will do that deal every day of the week and twice on Sunday.
Can we have real estate crash ( I want) while the stock market keeps growing? Doubtful of course. I need to get smarter and buy the dips more aggressively every time tariffs are announced (stocks drop) then wait 48 hours for the backpedal (stocks surge).
Bring on June. Good luck everyone, go out and make some money, I don’t want to celebrate alone.
I bought Palantir 11 times between April and August of last year so I'll celebrate with you lol. It's been a helluva ride. I wouldn't be surprised to see it hit $400 (or more) in a few years.