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

Good morning.

The morning witnessed more records in major U.S. indices … and I am not talking about just the S&P 500 … as the Dow and tech-heavy Nasdaq reached new intraday highs as well.

What is most interesting is how glowing stocks performed in October … for it was one month ago (following a September decline) … that many voices appeared to call for, at best, a boring October. That, of course, did not happen as returns for the month could be thought of as “spooktacular” … resulting in possible disappointment to any who followed the famed saying of “sell in May and go away.”

Will gains continue? Of course, no one knows for sure … although there appears to be wind in our sails, according to survey results of those planning to continue to invest. In this regard, JP Morgan Research claims that 67% of respondents plan to increase equity exposure in the months ahead … but this is not limited to retail. Daily Shot reports Merrill Lynch Private Equity allocations hit a new high (according to BofA Global Investment) and Financial Times touts the bullish opinion of Family Offices.

All this is in the face of a Bloomberg view that sees the possibility of 3 rate hikes by the end of 2022 … something that Daily Shot claims the equity market is ignoring.

Daylight Savings Time ends this weekend … and it seems there are quite a few who seem to hate the biannual adjustment of the clocks. What I found surprising are the many “fits and starts” surrounding “DST” … and learned it was actually introduced for a period of time (no pun intended) in 1918 and again in 1942 … before becoming law in 1966.

On a final note for today, I just read that PETA (“People for the Ethical Treatment of Animals”) is putting pressure on Major League Baseball to stop using the term “bullpen” (the area where relief pitchers assemble) and, instead, rename this area the “arm barn.” What?

This, of course, has created chaos with another group named “PETORP”

… “People for the Ethical Treatment of Relief Pitchers”

The silly renaming games continue with no mercy.

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


Quick Look at the News

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