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

Good morning.

Frankly, I’m tired of winter … as I just realized my driveway has become a sheet of pretty thick ice … and I won’t be going anywhere for a while.  Seeing the situation in Texas makes me more appreciative of those who work to keep our electricity flowing … along with the workers in grocery stores (among others) … who help make many uncomfortable events of this past year … a bit more bearable.

Probably the most interesting scene in the show “Oliver” was when, egged on by his associates, Oliver Twist had the nerve to politely announce, “I want some more.”  Mark Lester played the role, but has been replaced in today’s version by Janet Yellen … who is politely asking for more stimulus in the way of a $1.9 billion request.  Oliver, of course, was soundly punished for his request … as he didn’t lay his plea on vote-seeking guardians.   I would think it almost certain that Ms. Yellen will have a different result … for after all … the amount of porridge is unlimited. 

And we may soon have enough vaccine for everyone who wants it as, according to Bloomberg, we will have enough shots to cover all of the U.S. by Independence Day.  Suddenly, “independence” has taken on a more important meaning as it is deemed quite important to reach “herd immunity” as quickly as we can.  If you are left wondering why, I feel the first article included below gives a very good explanation.

Of course, the world may be much different then, for many … as it is being reported by Bloomberg that as many as 10% of us may be forced to switch careers if we want to stay employed.  Meanwhile, there are some “side hustles” … as an article below phrases it … to get extra cash if anyone wants to boost their income.

Meanwhile, markets have been good for investors as Fidelity reported that there are now more 401k and IRA millionaires than ever.  Of course, this has the risk of widening the wealth gap in this country … as many could not afford to invest … but that is a tale for another day.

On a final note for today, Bitcoin (and other cryptocurrencies) have been on a tear of late … and while more are adopting acceptance … owners should recognize the volatility.  From late 2017 to the early part of 2018, Bitcoin lost around 84% of its “value.”  There is no promise that this could not happen again even amid the increasing forecasts of its price continuing to head toward the heavens.

Well, I have to run … and get prepared to go outside and chop some ice … which forces me to dream of summer weather that can’t arrive fast enough.

I watched a video last night and it showed a scuba diver sitting on the edge of a boat, falling backwards into the water.

It got me wondering why they rolled backwards … and then it dawned on me.

If they rolled forward they would just go into the boat. 

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 11:04 AM today …

Quick Look at the News

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