There is no point blaming the system. The market is irrational and that is what makes it interesting. My focus is to make money.
A good long-term outcome does not mean the stock does not get cheaper. Because it is already cheap doe not mean it can not get cheaper. I think the best strategy as I see it (Not advice) is to chill and do nothing when it comes to CCP. I missed the opportunity to sell this for around 25 dollars when I was convinced this is heading to sub 20. I am still not buying and am convinced that this will get cheaper. If it does not get cheap, there are plenty of stocks that you can buy at cash value (cash on the balance sheet) in the current market.
My opinion is macro dictates everything (next to the balance sheet) and I am proven to be very accurate thus far. If we are in a recession, which is what I was alluding to over the past 4 months, this will get cheaper.
The only sort of asymmetric upside I see is oil stocks as there is a possibility of one madman trying to exact revenge from Europe which is a sitting duck because of all this BS ESG. But Cash is a fabulous asset (in a very bad asset neighborhood) and I am close to 85-90 cash+ properties as I alluded to in my previous posts.
Another important aspect of the current cycle is I don't think missing the absolute bottom is very costly as unless the Fed changes course ( i.e actively cut rates) There will be no bull market like which we witnessed in March 2020. If the 10-year is at 3.5 and VIX is close to 25 as the baseline, the equity premium should be close to 400 basis points. Especially in the context of earnings being actively revised down (because of the margin pressure) this story has a lot of legs.
Hope that helps and Do your own research.
CCP Price at posting:
$21.00 Sentiment: Hold Disclosure: Held
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