With the upward move in stocks this morning, it is actually shaping up to be a pretty good week in the markets … especially when you consider the drubbing investor portfolios took on Monday. Even so, we are still down just over 1.6% for the month of September … but it may be important to keep in mind that we just witnessed seven consecutive months of gains.
There continues to be quite a bit of concern over the U.S. jobs market as weekly jobless claims were higher than forecasts. What is most interesting regarding this is that many smart people (and some who are not so smart) figured that cutting federal unemployment benefits would force many back into the workplace … but this move has not had much of an effect. The problem here is, of course, that if a potential employee is waiting until the “perfect” offer comes along … they might be waiting a long time … as once a position gets filled, it is filled. Many strategists seem to be assuming workers should be rushing back in droves … and so far, there is no indication that it will happen any time soon.
Meanwhile, I came back into the office this morning. I swear I get more work done at home (finding myself on my computer for a much longer time) but I will admit that I really got something special out of being here today. We had a few people (social distanced still) in my office this morning and we chatted about things … tech things … market-related things … and just basic things in general … and it was enjoyable and I feel the content that came out of it was much more complete than could possibly be on a basic Zoom call.
Please don’t tell my workmates I said this, but I am really looking forward to our next discussion.
I’ve been a bit focused on the environment lately (as I am paying closer attention to the UN “we are doomed” claims) … so I was a bit taken aback by a shopping trip last night to a local supermarket. I bought 14 relatively small items … and the cashier put them in 6 single-use plastic bags. The point of my story is similar to the theme of one of my stories below. I’ve heard all about the “trillion tree initiative” that is to take place by 2050 … but what really intrigues me is the question brought up of whether or not this really matters and if it has the chance of helping at all. It seems to me that this is possibly just a thing to make us feel good … unless a more country and industry-specific coordinated approach takes place, which will take a heck of a lot more than the planting of trees.
That about wraps it up for today.
I’m not one for bumper stickers … especially political … but, needing an improvement in self-esteem put one on my car that says: “honk if you think I’m sexy.”
Now I just sit at green lights until I feel better about myself.
Have a great day,
Joseph G. Witthohn, CFA
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 11:48 AM today …
Quick Look at the News
Weekly jobless claims were on the rise … which is a bit of a surprise especially on top of the many news stories claiming employers clamoring for workers (CNBC)https://www.cnbc.com/2021/09/23/us-weekly-jobless-claims-total-351000-topping-320000-estimate.html
… but some left positions because they feel they have bosses that are just not pleasant to work with. This is a listing of poor leadership skills so if you want to improve … do the opposite (Inc)https://www.inc.com/marcel-schwantes/5-traits-that-will-instantly-point-to-someone-with-bad-leadership-skills.html
What do you do when you see your portfolio drop in value? Do you immediately sell your stocks? This article claims such a move is irrational. Frankly, I’m not so convinced (Acorns)https://grow.acorns.com/why-investors-tend-to-behave-irrationally-when-stock-prices-fall/
It seems every time I am on a long walk somewhere (usually in some line for an event) someone will cheerfully announce they are counting their steps. But how many are ideal? (Parade)https://parade.com/1243818/kimberlyzapata/how-many-steps-a-day-for-weight-loss/
Claims by the UN that the world is doomed due to climate change could be premature. Some feel we just need to plant a bunch of trees. Is this misguided (and will it help)? (Salon)https://www.salon.com/2021/09/19/a-proposal-to-plant-a-trillion-trees-to-save-us-from-climate-change-may-not-be-realistic-heres-why/
While clean energy is quite an interesting discussion, there is one thing many forget. You need to figure out how to get energy from the source to the end user (Vox)https://www.vox.com/videos/22685707/climate-change-clean-energy-high-voltage-transmission-lines
How is your diet? A new one focuses on what the longest-living people digest … which is easy to follow if you like “greens” and “beans.” In a word, “yuk.” (USAToday)https://www.usatoday.com/story/life/health-wellness/2021/09/22/what-blue-zones-diet-eating-like-longest-lived-people/8418692002/
The statements above are supplied for educational purposes only. The statements depict the viewpoints and opinion of the author and are not necessarily the views of Emerald Asset Management or its affiliates. The information described herein is taken from sources which are believed to be reliable, but the accuracy and completeness of such information is not guaranteed by us.