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PIC is a curse word. PIC means done. PIC means stick a fork in it.

Burry that market in a shallow grave and give me a tombstone.

Which is getting that being well today. Why should I get it? Because the PIC is

where you stop going higher and start going lower. When economy peaks it means

the GDP growth and the earnings growth will soon start to tumble. Of course that

doesn't mean everything goes down. Lots of stocks have no economic sensitivity.

Oh, whatever. And we call them secular growers and they can put up good

numbers. What other times are good or times are bad. But then there are the

other companies that surf the great way of the business cycle. We call them

cyclicals. When the economy booms like we're seeing right now thanks to the

great reopening they can make fortunes. Think of them as boom and bust stocks

because when the economy is in bad shape they can lose fortunes. So you got to

skidaddle.

Before that happens. Well, before it. Now if you've never found an economic

expansion in subsequent contraction usually brought by the Federal Reserve

raising interest rates. Well then you know what? You don't know the drill. We

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