Markets crashed hard on Monday, on what was essentially no news. CNBC of course offers explanation for all market movements but correlation is not causation
This was followed by a bounce back on Tuesday. Today (Wednesday), it seems that the market hasn't figured out whether to continue crashing or whether to continue rising as if nothing happened.
I did my DCA of VUSD on Monday, then proceeded to pick up some PRU, LGEN and NKE. Yes it seems that I am accumulating quite a bit of Nike.
As influenzas are not really part of Nike's marketing strategy, you don't get a lot of positive press about Nike products. The youtube channels on running and fitness that I watch seem to be sponsored by certain brands who have adopted the 'influenza' strategy. On the other hand, actions speak louder than words and for the numerous youtubers who document their training journey to Boston or London marathon, a lot of them wear Nike shoes though they don't announce the fact too loudly.
So I do like their products and I am long Nike, but I will set an exit price and sell once it is reached. I am also looking at Lululemon and OnOn, but from a value investing standpoint, Nike has better value metrics which Lulu and OnOn are supposed to be 'growth' stocks. But I am doubtful of 'growth' athleisure stocks. Basically, LuLu and OnOn are in the same position that UnderArmor was a few years ago and 'analysts' claiming it will continue to grow and grow. I'm sure they will survive and find a niche, but to increase their growth? Doubtful.
And speaking of fitness, my App tells me that I have moved from top 15% to top 10% which is good. More importantly, since I'm no longer young, the app also measures training load so I can take care not to overtrain and risk injury. Slow and steady is the best.
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