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

Good morning.
Stocks are mixed at the moment with the S&P 500 showing negative return while the Nasdaq is presently holding on to gains. But it doesn’t mean some aren’t worried … as investor Dan Pena (who named himself “The trillion dollar man”) is calling for a market correction … and Finbold reports that Robert Kiyosaki (author of “Rich Dad Poor Dad”) is claiming we should “expect the world’s biggest crash” in October. Yikes!

Keep in mind though, with regard to Mr. Kiyosaki, you have to wonder how much different this must be than the major market crashes he called for in 2016, 2017 and 2019 (after which point I stopped searching the internet for his past predictions).

Even so, people seem to be starting to wonder if equity markets are presently extended even without the added worry over the government shutdown battle going on right now in Washington.

It seems that many of us are in equities (although not every American is participating) as BCA Research reports that equities as a share of total household financial assets are higher than at any time since at least 1950 (the origin of the chart shared). Additionally, BofA reports private clients are holding more equities than they have in the past 15 years, but it is very important to note BofA is also forecasting negative returns for the S&P in the next 10 years. Negative returns? I’m getting older … I can’t deal with that.

Someone asked me last night when I thought companies would have everyone back in the offices again full time and they were probably shocked that my opinion is “never.” It seems that right now (according to Marcum LLP) 68% of U.S. middle-market companies are offering workers the option to work from home and, according to Statista, hybrid work may be here to stay. I must admit I do prefer to work from home some days … as I have always found commuting to be painful and have the technology I need – at home – to perform. Other than missing co-workers (especially the discussion-filled lunches) I favor the “part-time in” hybrid situation.

I love witnessing pure genius, so I will share a story that I just came across.

It seems that Danish artist Jens Haaning was paid $84,000 for artwork by a local museum. What he did was deliver two completely blank canvases with the amazingly appropriate title of: “Take the Money and Run.” He took the money and he ran. This is, in my view, art in its purest form.

And, as my last comment for today, I included a note on something people swear by.

It seems that if you have trouble sleeping … or wake up in the middle of the night and can’t get back to your dreams … a simple breathing exercise will have you peacefully snoring in a short period of time (per second-to-last story below).

I tried it … so far, but without success.

I figure owning one of those beds where you set a number … would help … you just need to figure out your number.

I found out last night that my number was 5.

5 glasses of wine.

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 11:45 AM today …


Quick Look at the News

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