Yes but is China progress 50-60% tariffs from 145% I mean it is progress but is it really progress. Keep in mind we have 10% tariffs here to stay essentially at the very least even if your a preferred partner. so that was headwind that wasn't here before. Add in we have steel tariff, aluminum tariff, probably chip and pharma tariffs are coming, there are headwinds all over the place. Are they manageable sure as long as they are low enough. I truly believe this market is at the top end of the range right now with the possibility of hitting 10-15% lower than current prices.
Having said all that this level of cash is temporary since I had a lot of companies that weren't great picks and some stocks that have ran I was cleaning up the portfolio getting all the data of the companies I liked that reported and soon it will be time to add back some although not overly aggressively because as I said the market should go lower in my opinion, having said that that might mean cash is in the 40-50% not the high 70's but as I said it became clear to me that I wanted to clean up the portfolio first get all the info, and than rebuild. I got all the info. I have cleaned up the mess, next is rebuild in the order. Granted as I said my view of the market will keep the level of reinvestment down until we get a bigger correction so to speak which I think is due to happen in the coming weeks. Time will tell. All is just my opinion, and I could always be wrong though.
AI
