This is Big (Maybe Too Big)
The market mostly spinning its wheels and trying for equilibrium after that blockbuster deal with Amazon announcing its intentions to purchase Wholefoods for $13.7 billion. One of the consequences is that consumer staples may not been seen as a safe haven anymore as the industry meets with the disruptive nature of technology and new thinking that focuses on eyeballs as much as the bottom line.
There is a chance additional bids come from Wholefoods and certainly brick and mortar names will need to become desperate in actions to stay alive.
Meanwhile, Industrials and materials continue to act great – I’ve implored everyone to have outsized exposure. Energy is oversold and there is rotation there as well.
Payne’s Passion beyond Dollars and Cents
In the aftermath of Edward Snowden, NSA and overbearing government many folks have come to the conclusion English author George Orwell’s nightmare tome was inevitable. His book “1984” predicted among other things:
There is no doubt George Orwell got everything right, but one thing. Government isn't going to be Big Brother, I think it will be a combination of Amazon, Google & Facebook.
This isn’t about misgivings and concerns that already exist about business disruptions and conflicts including:
“If you want to keep a secret, you must also hide it from yourself.”
Like Orwell’s telescreens, this is about electronic appliances that not only listen and spy on everything you say and do in private, but maintaining a recordings of those communications.
This is about these companies knowing you better than you know yourself and understanding how to manipulate that knowledge.
Newspeak is already happening, it’s the new language of acronyms, hashtags and emoji.
As an investor I have grappled with these notions for a long time because these stocks probably go a whole lot higher over time. By the same token, I don’t want Alexa in my home. This isn’t about being a Luddite or fear of change, this is about losing the kind of freedom we obviously take for granted because; unlike the NSA and other agencies, we are inviting these companies to spy on us.
They don’t need courts, warrants or even nefarious tactics.
When it’s all said and done maybe Orwell captured the unavoidable choice the people of Western nations would have to make:
“The choice for mankind lies between freedom and happiness and for the great bulk of mankind, happiness is better.”
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