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

Good morning.

Of course the big news over the weekend was what appears to be a temporary truce in the trade war … but … as always … the devil is in the details … and there still seems a bit of vagueness as to what both sides have agreed to.

Nevertheless, the investing public appears to like what they have heard so far … heck, at least both sides are talking … and U.S. markets began the first trading day of the month sporting a decent advance.

But there is another interesting development happening overseas … and with the G-20 meeting and the news on the death of President Bush … it seems to have been lessened in importance. The county of Qatar announced that they will leave the OPEC family in January. While Qatar has substantial quantities of natural gas … and, according to Persian Gulf Fund, is the world leader in the export of Liquified Natural Gas (“LNG”) … it is the first Middle East country to leave OPEC … and some are wondering if this demonstrably weaken OPEC’s importance on the world stage.

So … back to markets.

Of course we have varying opinions … as we always do … and while Invesco gives the view that the November jobs report might spark a major sell-off … the Raymond James Chief Strategist feels a 12% rise over the next 5 weeks is in the cards! One might be right … or both may be wrong … but I did take a degree of solace in a tweet put out by Ryan Detrick of LPL Financial where he pointed out that since 1950, December has never been the worst month of the year for the S&P 500. Ryan always has good stuff, in my view, and can be found at @ryandetrick … for those with Twitter accounts.

With all of this happening, I think the most interesting story of the weekend (at least for tech lovers) is that a man … drunk … was asleep behind the wheel of his Tesla … as it traveled 70 MPH on a highway on autopilot. Police became aware and were able to pull in front of the car, slowing it down (thanks to its distance capabilities) and eventually bringing it to a stop.

It was, of course, a very dangerous episode … but to read that this occurred … and the car acted the way it did … leads me to believe the adoption of this technology will happen rather fast.

I hope so.

My 14-year old will be driving soon.

Have a great weekend,

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

… as of 11:02 AM today …

Quick Look at the News


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