by Jason Bodner

May 10, 2022

It’s only money.

My best friend says that all the time. It’s pure irony, because to some, money is just about the only thing.

We spend a lot of time and emotional energy worrying about money. How many people have died in wars over their possessions? People get shot in bank robberies trying to hold on to their money. Families split apart. Adult children steal from their parents, but isn’t it really only just paper or electronic ledger entries?

Scroll down and you’ll see I included no charts this week, no sector analysis. Today, I’m just going to provide some perspective on all the anxiety about interest rates, inflation and a potential recession.

The Bare Necessities are All Taken Care Of

Our ancient ancestors worried mostly about bare necessities, like food and shelter. If that was taken care of, they likely led fairly relaxed lives; snoozing when they wanted or lying down and looking up at the stars in wonder. But then something revolutionary happened: They cultivated a form of wild grass called wheat.

Then came the luxury trap. We started farming. That put an end to our nomadic lives. We became slaves to our crops. We needed to water, weed, care for and harvest those crops. We worried about predators or other tribes attacking our village or stealing our crops. We spent long hard days in heat hauling buckets of water and performing back-breaking labor. Eventually, we bred beasts of burden to do our hardest labor.

How many head of oxen or cattle we owned denoted our wealth (cap = head, hence “capitalism), even if sometimes the people counted the number of pigs owned as a measure of prosperity, as in in New Guinea.

When we were hunter gatherers, we didn’t need to worry about protecting the livestock or the crops, just finding that day’s food to feed our bellies, and a safe place to sleep. Some argue that our new dependence on wheat caused disease and sickness. More food also meant more babies. Each new generation led an easier life than their parents did. That’s still true. Imagine telling your great-grandparents that we can potentially 3-D print our hip replacements to accelerate the already-fast healing process?

Eventually, the agricultural society created symbols for wealth, the first being gold and silver, or a natural combination of the two called electrum, in coins first dated around 600 BC. That eventually gave way to paper promissory notes for gold, which became paper money. And now we have digital money.

The “luxury trap” grew from crop dependence. Today, the luxury trap may be a nicer house, a nicer car or great vacations. At age 25, we may tell ourselves that we will work hard for 10 years so we can retire to freedom at 35. Only by then there are mouths to feed, cars and mortgages to pay, and colleges to save for.

Today, we worry about perceived threats the same way early farmers did, but our threats aren’t just to our lives. They are to our money. Shakespeare could have said: “Hell hath no fury like an investor scorned.”

Some stock indexes are down 20% or more this year but imagine talking to your hunter-gatherer fore-bearer about your problems. He’s pondering tomorrow’s nomadic move while you fret about whether the Fed will raise rates three or more times this year and by how many “basis points” (1/100th of one percent).

In your best but anxious early homo-sapiens grunts, you ask: “What will happen to my stock portfolio?!”

Your ancestor has never heard of money, much less basis points or the Federal Reserve or portfolios, so he might grunt back to you, “Do you have food? A cave? Warm clothes? OK, so what’s your problem?”

Folks, it’s only money. Don’t get me wrong: uncertainty over our economic future is certainly a serious matter, but how serious? We live in the most prosperous, healthiest time in human history.

And it will only keep getting better.

What To Do to Bring That Money Back Home to You

I’ve already given clear direction over how to navigate the investment side of these turbulent times:

  1. Holding cash in a high inflationary environment is certain to waste away your buying power.
  2. Buying bonds at current rates will likely lead to negative real returns. Stocks are your best bet.
  3. Conservative investors should buy high dividend stocks for some income, capital preservation, and even historically assured capital appreciation.
  4. Aggressive long-term investors should buy beaten-down profitable tech stocks with sales and earnings growth, high cash and low debt balance sheets.

Many companies were unfairly punished for being “growth” stocks, but higher interest rates don’t affect companies not borrowing money. In other words, if you have no debt to refinance, so what if rates go up?

That advice still stands. But here’s my added advice to help you live a happier, more fulfilled life: 

Until that day when stocks resume consistently rising again, please Stop Worrying. It’s only money.

Stress and anxiety take toxic tolls on our mental and physical health. Indulging in our deepest fears over things we can’t control is futile at best. At worst, it’s wasteful of the only true asset we have: Time.

Sadly, we can’t make more time. Seeing as you are spending some on me, let’s make it worth your while.

  1. Set aside savings monthly to buy stocks regularly. Set up an investment environment where you don’t really care about what happens to interest rates. Throughout the last 100 years, rates and inflation have zig-zagged but stocks have gone up overall. That’s because stocks represent companies in the business of survival, growth and durability.
  2. Avoid margin (leverage) at all costs: Leverage will make you giddy on the way up, but it can ruin you on the inevitable way down. (After these two steps, the next two steps should be enjoyable):
  3. Enjoy the process of researching and selecting businesses to invest in. (We can help you there, it’s what we love to do.) Enjoy knowing that you are investing and compounding your wealth for the long-term future of yourself and successive generations
  4. Go enjoy something you love, whether it’s golf, music, surfing, writing, walking, appreciating nature or spending time with friends and loved ones, because each moment that ticks by is gone. We won’t get it back. Do you really want to spend your time fretting over what you can’t control?

Ironically, time is the only asset that both wastes and rewards. Each minute passed doesn’t come back, but each moment can also make us richer in the mind – wiser, happier, and more satisfied.

Worrying about inflation, interest rates, COVID, and war won’t make you richer. It will only make the news companies and their advertisers richer at your expense.

To make yourself richer, enact a stable plan over time and stop stressing. Two simple rules to live by:

  • Don’t let your fears own you: Free your mind from worry.
  • Pursue your passions: Spend the most important asset you have wisely: your time.

Maybe our hunter gathering ancestors inherently knew this. They relaxed and did what they wanted to do until it was time to eat or sleep. Then, when they created food and shelter by easier means, they created luxury which created reliance and enslavement. There was a great line about this in the movie Fight Club:

“The things you own end up owning you. It’s only after we’ve lost everything that we’re free to do anything.”

All content above represents the opinion of Jason Bodner of Navellier & Associates, Inc.

Please see important disclosures below.

Also In This Issue

Global Mail by Ivan Martchev
On The Threshold of Bond Market History

Sector Spotlight by Jason Bodner
It’s Only Money – and It Will Likely Return

View Full Archive
Read Past Issues Here

About The Author

Jason Bodner

Jason Bodner writes Sector Spotlight in the weekly Marketmail publication and has authored several white papers for the company. He is also Co-Founder of Macro Analytics for Professionals which produces proprietary equity accumulation/distribution research for its clients. Previously, Mr. Bodner served as Director of European Equity Derivatives for Cantor Fitzgerald Europe in London, then moved to the role of Head of Equity Derivatives North America for the same company in New York. He also served as S.V.P. Equity Derivatives for Jefferies, LLC. He received a B.S. in business administration in 1996, with honors, from Skidmore College as a member of the Periclean Honors Society. All content of “Sector Spotlight” represents the opinion of Jason Bodner

Important Disclosures:

Jason Bodner is a co-founder and co-owner of Mapsignals. Mr. Bodner is an independent contractor who is occasionally hired by Navellier & Associates to write an article and or provide opinions for possible use in articles that appear in Navellier & Associates weekly Market Mail. Mr. Bodner is not employed or affiliated with Louis Navellier, Navellier & Associates, Inc., or any other Navellier owned entity. The opinions and statements made here are those of Mr. Bodner and not necessarily those of any other persons or entities. This is not an endorsement, or solicitation or testimonial or investment advice regarding the BMI Index or any statements or recommendations or analysis in the article or the BMI Index or Mapsignals or its products or strategies.

Although information in these reports has been obtained from and is based upon sources that Navellier believes to be reliable, Navellier does not guarantee its accuracy and it may be incomplete or condensed. All opinions and estimates constitute Navellier’s judgment as of the date the report was created and are subject to change without notice. These reports are for informational purposes only and are not a solicitation for the purchase or sale of a security. Any decision to purchase securities mentioned in these reports must take into account existing public information on such securities or any registered prospectus.To the extent permitted by law, neither Navellier & Associates, Inc., nor any of its affiliates, agents, or service providers assumes any liability or responsibility nor owes any duty of care for any consequences of any person acting or refraining to act in reliance on the information contained in this communication or for any decision based on it.

Past performance is no indication of future results. Investment in securities involves significant risk and has the potential for partial or complete loss of funds invested. It should not be assumed that any securities recommendations made by Navellier. in the future will be profitable or equal the performance of securities made in this report. Dividend payments are not guaranteed. The amount of a dividend payment, if any, can vary over time and issuers may reduce dividends paid on securities in the event of a recession or adverse event affecting a specific industry or issuer.

None of the stock information, data, and company information presented herein constitutes a recommendation by Navellier or a solicitation to buy or sell any securities. Any specific securities identified and described do not represent all of the securities purchased, sold, or recommended for advisory clients. The holdings identified do not represent all of the securities purchased, sold, or recommended for advisory clients and the reader should not assume that investments in the securities identified and discussed were or will be profitable.

Information presented is general information that does not take into account your individual circumstances, financial situation, or needs, nor does it present a personalized recommendation to you. Individual stocks presented may not be suitable for every investor. Investment in securities involves significant risk and has the potential for partial or complete loss of funds invested. Investment in fixed income securities has the potential for the investment return and principal value of an investment to fluctuate so that an investor’s holdings, when redeemed, may be worth less than their original cost.

One cannot invest directly in an index. Index is unmanaged and index performance does not reflect deduction of fees, expenses, or taxes. Presentation of Index data does not reflect a belief by Navellier that any stock index constitutes an investment alternative to any Navellier equity strategy or is necessarily comparable to such strategies. Among the most important differences between the Indices and Navellier strategies are that the Navellier equity strategies may (1) incur material management fees, (2) concentrate its investments in relatively few stocks, industries, or sectors, (3) have significantly greater trading activity and related costs, and (4) be significantly more or less volatile than the Indices.

ETF Risk: We may invest in exchange traded funds (“ETFs”) and some of our investment strategies are generally fully invested in ETFs. Like traditional mutual funds, ETFs charge asset-based fees, but they generally do not charge initial sales charges or redemption fees and investors typically pay only customary brokerage fees to buy and sell ETF shares. The fees and costs charged by ETFs held in client accounts will not be deducted from the compensation the client pays Navellier. ETF prices can fluctuate up or down, and a client account could lose money investing in an ETF if the prices of the securities owned by the ETF go down. ETFs are subject to additional risks:

  • ETF shares may trade above or below their net asset value;
  • An active trading market for an ETF’s shares may not develop or be maintained;
  • The value of an ETF may be more volatile than the underlying portfolio of securities the ETF is designed to track;
  • The cost of owning shares of the ETF may exceed those a client would incur by directly investing in the underlying securities; and
  • Trading of an ETF’s shares may be halted if the listing exchange’s officials deem it appropriate, the shares are delisted from the exchange, or the activation of market-wide “circuit breakers” (which are tied to large decreases in stock prices) halts stock trading generally.

Grader Disclosures: Investment in equity strategies involves substantial risk and has the potential for partial or complete loss of funds invested. The sample portfolio and any accompanying charts are for informational purposes only and are not to be construed as a solicitation to buy or sell any financial instrument and should not be relied upon as the sole factor in an investment making decision. As a matter of normal and important disclosures to you, as a potential investor, please consider the following: The performance presented is not based on any actual securities trading, portfolio, or accounts, and the reported performance of the A, B, C, D, and F portfolios (collectively the “model portfolios”) should be considered mere “paper” or pro forma performance results based on Navellier’s research.

Investors evaluating any of Navellier & Associates, Inc.’s, (or its affiliates’) Investment Products must not use any information presented here, including the performance figures of the model portfolios, in their evaluation of any Navellier Investment Products. Navellier Investment Products include the firm’s mutual funds and managed accounts. The model portfolios, charts, and other information presented do not represent actual funded trades and are not actual funded portfolios. There are material differences between Navellier Investment Products’ portfolios and the model portfolios, research, and performance figures presented here. The model portfolios and the research results (1) may contain stocks or ETFs that are illiquid and difficult to trade; (2) may contain stock or ETF holdings materially different from actual funded Navellier Investment Product portfolios; (3) include the reinvestment of all dividends and other earnings, estimated trading costs, commissions, or management fees; and, (4) may not reflect prices obtained in an actual funded Navellier Investment Product portfolio. For these and other reasons, the reported performances of model portfolios do not reflect the performance results of Navellier’s actually funded and traded Investment Products. In most cases, Navellier’s Investment Products have materially lower performance results than the performances of the model portfolios presented.

This report contains statements that are, or may be considered to be, forward-looking statements. All statements that are not historical facts, including statements about our beliefs or expectations, are “forward-looking statements” within the meaning of The U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by such forward-looking terminology as “expect,” “estimate,” “plan,” “intend,” “believe,” “anticipate,” “may,” “will,” “should,” “could,” “continue,” “project,” or similar statements or variations of such terms. Our forward-looking statements are based on a series of expectations, assumptions, and projections, are not guarantees of future results or performance, and involve substantial risks and uncertainty as described in Form ADV Part 2A of our filing with the Securities and Exchange Commission (SEC), which is available at or by requesting a copy by emailing All of our forward-looking statements are as of the date of this report only. We can give no assurance that such expectations or forward-looking statements will prove to be correct. Actual results may differ materially. You are urged to carefully consider all such factors.

FEDERAL TAX ADVICE DISCLAIMER: As required by U.S. Treasury Regulations, you are informed that, to the extent this presentation includes any federal tax advice, the presentation is not written by Navellier to be used, and cannot be used, for the purpose of avoiding federal tax penalties. Navellier does not advise on any income tax requirements or issues. Use of any information presented by Navellier is for general information only and does not represent tax advice either express or implied. You are encouraged to seek professional tax advice for income tax questions and assistance.

IMPORTANT NEWSLETTER DISCLOSURE:The hypothetical performance results for investment newsletters that are authored or edited by Louis Navellier, including Louis Navellier’s Growth Investor, Louis Navellier’s Breakthrough Stocks, Louis Navellier’s Accelerated Profits, and Louis Navellier’s Platinum Club, are not based on any actual securities trading, portfolio, or accounts, and the newsletters’ reported hypothetical performances should be considered mere “paper” or proforma hypothetical performance results and are not actual performance of real world trades.  Navellier & Associates, Inc. does not have any relation to or affiliation with the owner of these newsletters. There are material differences between Navellier Investment Products’ portfolios and the InvestorPlace Media, LLC newsletter portfolios authored by Louis Navellier. The InvestorPlace Media, LLC newsletters contain hypothetical performance that do not include transaction costs, advisory fees, or other fees a client might incur if actual investments and trades were being made by an investor. As a result, newsletter performance should not be used to evaluate Navellier Investment services which are separate and different from the newsletters. The owner of the newsletters is InvestorPlace Media, LLC and any questions concerning the newsletters, including any newsletter advertising or hypothetical Newsletter performance claims, (which are calculated solely by Investor Place Media and not Navellier) should be referred to InvestorPlace Media, LLC at (800) 718-8289.

Please note that Navellier & Associates and the Navellier Private Client Group are managed completely independent of the newsletters owned and published by InvestorPlace Media, LLC and written and edited by Louis Navellier, and investment performance of the newsletters should in no way be considered indicative of potential future investment performance for any Navellier & Associates separately managed account portfolio. Potential investors should consult with their financial advisor before investing in any Navellier Investment Product.

Navellier claims compliance with Global Investment Performance Standards (GIPS). To receive a complete list and descriptions of Navellier’s composites and/or a presentation that adheres to the GIPS standards, please contact Navellier or click here. It should not be assumed that any securities recommendations made by Navellier & Associates, Inc. in the future will be profitable or equal the performance of securities made in this report.

FactSet Disclosure: Navellier does not independently calculate the statistical information included in the attached report. The calculation and the information are provided by FactSet, a company not related to Navellier. Although information contained in the report has been obtained from FactSet and is based on sources Navellier believes to be reliable, Navellier does not guarantee its accuracy, and it may be incomplete or condensed. The report and the related FactSet sourced information are provided on an “as is” basis. The user assumes the entire risk of any use made of this information. Investors should consider the report as only a single factor in making their investment decision. The report is for informational purposes only and is not intended as an offer or solicitation for the purchase or sale of a security. FactSet sourced information is the exclusive property of FactSet. Without prior written permission of FactSet, this information may not be reproduced, disseminated or used to create any financial products. All indices are unmanaged and performance of the indices include reinvestment of dividends and interest income, unless otherwise noted, are not illustrative of any particular investment and an investment cannot be made in any index. Past performance is no guarantee of future results.