Good morning.
Well, the groundhog saw its shadow today, telling us to expect 6 more weeks of winter … but looking out my window at the tower of snow … and a weather report that forecasts chill over the next 10 days … I didn’t need a groundhog to tell me we are in for a fierce winter.
But forecasts are sometime wrong … as those who felt The Melania Movie would be shown in empty theaters found out … as an $8 million opening weekend far exceeded muted (and comical) expectations. Still, critics continue to call it one of the worst movies ever made … as the star shrugs and laughs all the way to the bank.
Markets are glittering at the moment … up this first trading day of February … while certainly showing us “all that glitters is not gold” … as the precious metals that had a heck of a run are facing another down day. While the announced Fed chairman is cited as the reason for the decline in the commodities … it might be coincidental … as with any sharp run-up (such as silver recently experienced) profit-taking could be expected. And yes … even this can lead to further declines as owners worry that the slide will continue.
Forecasts for the U.S. population showed a decline starting sometime around 2080 … but you can throw these projections aside … as Bloomberg feels 2026 could see the first population drop in our nation’s history thanks, in large part, to our new immigration stance.
Sure, it could be a positive … for a while … but since new entrants to the economy put funds in to help bolster social security … our well-meaning efforts could have a problematic result.
One other thing caught my eye this weekend … and I found it very sad indeed.
Catherine O’Hara died this weekend, but the tragedy goes far beyond her death. One of her fellow actors, Macaulay Culkin, bemoaned that he did not get to visit one last time saying, “I thought we had time.”
This struck me … and struck me hard … for every time I’ve lost a close friend, I realized that what I would like more than anything is just to have 5 minutes more … one more smile … one more laugh … one more hug.
I do so many things during the day that I think are important … like finishing my writing … or fixing a crooked painting … or even running to the store when my favorite beer is on sale.
Obviously, I am kidding myself.
Friends are important. People are important.
You are important.
Have a great day,
Joseph G. Witthohn, CFA
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