Good morning.

Following a day which had investors cheering over the end of the budget stalemate, we have reality setting in, and it appears markets will open in negative territory … as there is still a lot more to digest.  Tariffs and inflation can now take center stage again as opposing sides in Washington review the next big thing for them to argue about.

Even though this chapter seems as if will be shortly behind us, the FAA is warning problems with flights could still exist for the next few weeks … and even seep into the Thanksgiving holiday.
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And what might grab a lot of attention toward the end of the year?  Not corporate earnings, nor the Fed nor even a minor miracle in New York (as the Jets actually won consecutive games) … but the promised $2,000 “tariff gift” that the President mentioned … to the glee of many, who greet such news not with applause, but with votes … ignoring the fact that much of their promised gain would come from their own pockets.

Yes, money has a strange way of affecting people.

We certainly see that in sports recently, as the ability to wager (and profit) is easy, tempting and hard to police.

Such is the strange case surrounding, Emmanuel Chase, a pitcher from the Cleveland Indians … oh, I mean Guardians … with the claim he made a couple of thousand dollars from his wager-induced actions on the field … and now risks (if allegations hold true) not only jail time, but ending his career and the potential of earning $38 million over the next several years.  But don’t feel too bad.  He was on “paid leave” at the end of this season … so still received $88,000/week while sitting on the sidelines.   Where, oh where, is Judge Landis when you need him?

And if this is too much temptation for a highly paid veteran … what about the college player … with only a hopeful NIL for support … who … along with friends and family … also has access to betting sites?

Okay, that’s enough on that topic … and probably too much.

The final note for today is in the last story below, dealing with friendship … as it is pointed out you probably have fewer “true friends” than you think (not counting the 1256 friends you might have on Facebook).

When you think about it, close friends are near and dear … so do what you can to hold on to them.

And how do you tell a good friend?

If asked, a friend will help you move …

… but a really good friend will help you move a body.

Have a great day,

Joseph G. Witthohn, CFA

Have any questions? Please contact info@teamemerald.com

A Look At The News | November 11, 2025 As of 9:20 AM today: Although not over the goal line yet, it appears the government shutdown is over … for a few months at least … as the Senate approved the measure (CNN) https://www.cnn.com/2025/11/10/politics/senate-vote-government-shutdown-funding   … but even with this soon to come to a conclusion, the FAA points out that flights could still be an issue as problems at “hubs” could still exist for the next few weeks (USAToday) https://www.usatoday.com/story/travel/news/2025/11/11/my-thanksgiving-flights/87154046007/   … and an agreement almost didn’t happen … as one Republican Senator … Rand Paul … was upset that hemp farmers could be harmed by new constraints on THC (NBCNews) https://www.nbcnews.com/politics/rcna243075   While other country’s consumers struggle with energy costs, Australia is giving free electricity to many households on the heels of what appears to be a successful solar program (NewScientist) https://www.newscientist.com/article/2503532-australia-is-getting-free-electricity-will-other-countries-follow/   Athletes throwing games?  Who could have seen that coming?  With ease of gambling, it is small wonder that many can’t overcome the temptation of almost certain gains (CBSSports) https://www.espn.com/mlb/story/_/id/46920575/feds-best-hope-police-sports-betting-wild-west   How many close friends do you have?  Are you sure?  Strange … but with social media and advanced methods of communicating the number is actually shrinking (HuffingtonPost) https://www.huffingtonpost.co.uk/entry/average-number-close-friends_uk_690dbf80e4b0063dd27d3583   The statements above are supplied for educational purposes only. The statements depict the viewpoints and opinion of the author and are not necessarily the views of Emerald Asset Management or its affiliates. The information described herein is taken from sources which are believed to be reliable, but the accuracy and completeness of such information is not guaranteed by us. Emerald Asset Management PA, LLC | 717-556-8900 | 3175 Oregon Pike, Leola, PA 17540 Want to change how you receive these emails? You can unsubscribe from this list. ———————————————————————————- The statements above are supplied for educational purposes only. The statements depict the viewpoints and opinion of the author and are not necessarily the views of Emerald Asset Management or its affiliates. The information described herein is taken from sources which are believed to be reliable, but the accuracy and completeness of such information is not guaranteed by us.