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

Good morning.

Stocks are mixed as we head into the holiday weekend but will not be a typical break from work … as few are planning trips as the pandemic continues to halt travel.

 One of the most interesting (and scariest) items this morning is a report on variants … as the question on the effectiveness of vaccines and medicines to handle this is being brought up.  Some look at the number of U.S. cases as small (around 1,000) … but this has been doubling every 12 days … and if that rate continues we would have over 1 million affected within the next 3 months alone.  Great, another thing to worry about!

There is also a note out this morning, included below, regarding the nation’s debt as the Congressional Budget Office (“CBO”) is providing the view that this will swell to $35 trillion over the next 10 years (from around $28 trillion today).  One thing to note is their projections usually fall short.  Way short.  Yikes! 

It seems that we are constantly robbing Peter to pay Paul … causing many to wonder if Peter will ever run out of money.  If he does, then who do we rob?

It seems that home prices are in the news as bidding wars are taking place for those houses on the market.  But the reason is not so much demand as it is supply … and a CNBC report claims that half the homes on the market are going to contract within two weeks!  

Back to the markets … analysts sometimes try to figure out company earnings and often use management guidance to provide them with an important component.  But, according to Banc of America Global Research, the number of companies giving guidance is the smallest it has been in 20 years.  Horrors!  Analysts might be forced to actually meet with companies, talk to competitors and figure out earnings on their own … helping firms with strong research teams identify the winners of tomorrow.  The way it should be done.

That’s about it for today.

I took a drive yesterday and actually saw a bumper sticker that said, “I’m a veterinarian. I can drive like an animal.”

I realized during my trip that there must be a lot of proctologists on the road.

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 11:49 AM today …

Quick Look at the News

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