Joseph G. Witthohn, CFA
VP of Product Development Emerald Asset Management

Good morning.

What a difference a few days seem to make. While the circus continues in Washington (um … doesn’t it always?) … I heard a pretty astute comment on Bloomberg radio yesterday by Jonathan Galub of RBC who asked if there is a change in leadership in Washington … whether we would be buying fewer iPhones or spending less money on “things.” He pointed out the economy is in full recovery mode and few people (if any) will change behavior even if there is disruption in the political landscape.

By the way, stocks are up early today … as they were yesterday … as many investors might be coming around to Mr. Galub’s way of thinking.

How can you not like a king who enjoys having fun? King Willem-Alexander of the Netherlands has just revealed that he has been a co-pilot for KLM Airlines for the last 21 years … continuing even after he gained the throne in 2013 (and is now training to fly a larger plane). In our country, our leader is not even allowed to drive a car. Drive us crazy? Yes. But driving an automobile is strictly forbidden.

Meanwhile, a little closer to the ground, it appears that Tesla has been trying hard to ramp up production … and employees are feeling the stress. A report claims that there have been more than 100 instances where ambulances had to be called for workers fainting on the job.

I went to the local Tesla dealer and looked over their awesome car. Then I saw the invoice.

I felt a little like fainting myself.

On a final note (and the last link below) OECD produced an “obesity update” and the news is quite concerning. The leading country for obesity is the United States where, in a recent study, 38.2% of adults are considered obese. It also appears that around 20% of our kids are also equally afflicted. Maybe even more disturbing, the projected rate of obesity in the U.S. will be around 47% in the next 13 years.

When it comes to overeating, one thing seems quite certain indeed.

Americans really do take the cake.

Have a great day.

Joseph G. Witthohn, CFA
Vice President
Emerald Asset Management
610 Freedom Business Center Drive
King of Prussia, PA 19406
(610) 337-9230 ext. 6
wit@teamemerald.com

… as of 10:18 AM EDT …

Quick Look at the News

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