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

Good morning.

Contrary to what “the consensus” expected, workers supporting the U.S. economy were fewer in number after the month of December … as the virus continues to take a toll on employment.

And the market reaction?  Another yawn, as investors appear to have the future in mind.  There seems to be a lot of money on the sidelines and I have heard more than a few give the view that this will be like “the Roaring 20s” … with visions of party after party as we collectively celebrate our pent up demand for fun and inebriation.

Of course, we all know how the decade of the 20s ended … but we won’t have any of the same problems due to excessive behavior.  We’re smarter this time.

What I found interesting this morning was a graph by Saville Research which shared a troubling statistic, showing the number of Manhattan office vacancies is the highest it has been in over a century.  I don’t know about you, but I have gotten used to this “work out of my home” thing.  I mean, the internet works well and the refrigerator is fully stocked and so close to me.  What could possibly be better?

I do apologize in advance as my writing will be quite choppy next week … and I will probably miss some days (if not all).  I am grading an industry exam and … it is tough to explain … but it really takes a lot of time and, more importantly, requires a lot of dedicated non-distracted focus.  

So today I have to finish some “real” work along with long-neglected house projects.

The problem is that when I try to do projects around the home, I usually look for tools in a very messy garage.  And when I can’t find a tool right away?  I buy another one.

So I did some cleaning and took an inventory last night … finding out I have something like 20 screwdrivers, 8 hammers and 10 paintbrushes … and a crowbar that I never used … so I got to thinking about something someone once told me …

Before crowbars were invented crows probably had to drink at home.

Have a great day.

Joseph G. Witthohn, CFA
Vice President
Emerald Asset Management PA, LLC
610 Freedom Business Center Drive
King of Prussia, PA 19406
Direct: (610) 285-9905
cell: (856) 625-7915

… As of 11:55 AM today …

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