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Good morning.

Investors closed out the day yesterday assuming election results that would result in gridlock in Washington … something they seemed to favor … but with numbers still coming in … the outcome is, surprisingly, not so clear.

And what do investors hate? Uncertainty … and we certainly have that right now.

Markets are down this morning … but LPL reminds us that with a Democrat in office and a Congress that is “split” (or fully Republican) … returns over the next year have been quite strong.  But there may be one fly in the ointment.  Simple review of past performance probably does not take some present hurdles into consideration … such as inflation, rate increases and a new lockdown of a “manufacturing hub” in China (as reported by CNN) due to Covid Variant 87.

We are now 46 days aways from Christmas … but if you notice the malls a bit less crowded, there might a be a good reason. According to the first article below, people are planning to cut back on gifts this Christmas … but, as with most things written there is confusion … as it might be the number of gifts … not the amount spent … as the CNBC article points out a Deloitte opinion that the same monetary amount will be spent by households.

This might not make sense, however … as prices are up not only for Christmas gifts but for so many other things. I would suspect (but what do I know?) people will be a bit more frugal … especially with expectation of job cuts and recession so much in the news.

I often point out that a major difference today over the past … is that almost anyone (including robots) can write articles … so I found the fourth item below interesting.

The article puts fear in our hearts by telling us areas of the U.S. that could be completely underwater in the next 30 years … and included in the “analysis” is the “state of Washington.”  Why is there the claim that Washington state might be underwater and likely to disappear?  Because of the state being just above sea level … and the rise of the Pacific Ocean and the possible effect on Seattle … with additional issues caused by Chesapeake Bay, with an effect on the DC metro system.  What? Obviously, the proofreader didn’t pick up that Washington state is being confused with Washington DC throughout the article … which isn’t too much of a surprise in this day-and-age where things can be written (without vetting) by anyone with a keyboard.

Okay, enough of me griping.  I guess I’m a little punch-drunk from watching election stuff until all hours of the night … as I have not lost the memory of when we would watch and know the results immediately

… and not have to wait days or weeks ahead.

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
cell: (856) 625-7915

A Look At The News November 9, 2022

As of 11:58 AM today

One of the results of inflation are higher costs for things, of course, but this might affect Christmas shopping … as spending on presents might be reduced (CNBC)

… but if you are going to buy real estate in the Metaverse to give as a gift … it will cost you quite a bit … as prices for some properties is in the millions (EuroNews)

Should municipalities consider switching to electric vehicles?  It might be worthwhile to do a cost-benefit analysis as it might save money (Electrek)

There are claims that rising sea levels will completely overtake some land areas … but this article makes a crazy mistake when citing Washington State … mentioning Chesapeake Bay (WorldAtlas)

Do you unintentionally intimidate people? It is important to notice if you do … as they might be afraid to share important information with you (YourTango)

When I talk with friends about future plans … it is funny … but none of them mention looking forward to being in a nursing home. To combat this, now is the time to plan (CNBC)




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.