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Good morning.

Stocks are up again this morning as the S&P attempts to claw its way back from the throes of a bear market … but there is a lot of ground to make up as, so far, the index is down around 21% for the year.

Not everyone believes the pain is over, although forecasts happen to be … as they often are … all over the place and quite confusing.

Sure, we have Societe General telling us … according to Bloomberg … that if we see a “1970’s-style inflation shock” … markets could fall another 33% from present levels.  Oh my word!

Business headlines don’t help calm nerves either.  Just last week a headline in Bloomberg stated: “JP Morgan strategists say stocks imply 85% chance of U.S. recession.”  And what does a CNBC  today claim?   That JP Morgan sees no recession and stocks climbing to a new record by end of the year!  So reading between the lines, the company feels the market is oversold.

Same data points … market experts … far different opinions.  What confidence can someone like me have?  So here I sit … with my “magic 8-ball” … hoping for the best.

Not everyone agrees with me on this, but I am quite taken with what is called the Metaverse … so I included a CNBC article (last one below) where Mark Zuckerberg shares his own vision.  But there are still a lot of questions (especially around privacy) that will need to be answered … and that does not even address the very important issue of cybersecurity.  Yes, we are years away from this becoming mainstream … and might not even achieve it in my lifetime … but, in my view, it is something of which we might want to become aware as it become more commonplace … for it could happen faster than I think.

That about wraps it up for today.

I am not in a great mood as I was supposed to golf later today and stormy weather caused an outing to be cancelled.

I still haven’t “broken 100” … and as I get older I realize I may only have a limited amount of time left to reach this lifetime goal.  The problem is I am so close … often within one or two shots but the “blow up hole” … known as a “snowman” … always seems to put this out of reach.

I don’t want to admit that I seem unable to hit straight shots …

… but I recently had to have my ball retriever regripped.

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
wit@teamemerald.com
 #vaccinatetosave

 

A Look At The News | June 23, 2022

As of 11:26 AM today

Why are many forecasting a drop in home prices?  It is not because they ran up so fast … it is due to the growing amount of potential buyers suddenly finding themselves not qualified (CNN)

https://www.cnn.com/2022/06/22/homes/affording-a-home-harvard-study/index.html

You can always rent a home … but be very careful of one thing.  Whether a short Air BnB stay or something longer, keep an eye out for cameras.  Here is how to check (USAToday)

https://www.usatoday.com/story/tech/columnist/komando/2022/06/23/how-check-hidden-cameras-airbnb-vrbo-vacation-rentals/7652726001/

There is a global food situation going on right now … with the possibility that many will not only face hunger, but also deadly disease (Barrons)

https://www.barrons.com/news/global-food-crisis-will-kill-millions-by-disease-health-executive-warns-01655961907

Many look toward pipelines to help move needed energy-related fuel sources from one area to another.  Leaks are of concern (TheHill)

https://thehill.com/policy/equilibrium-sustainability/3533849-us-gas-pipeline-leaks-occur-every-40-hours-report/

Thinking of quitting your job?  Sometimes it is a knee-jerk reaction to something you don’t like and you might want to think about whether or not there are other options (FastCompany)

https://www.fastcompany.com/90762956/5-signs-you-should-stay-at-a-job-over-resigning

We have all seen photos of people stranded at airports due to cancelled flights.  You should always have a plan of what to do if you find yourself among that crowd (CNET)

https://www.cnet.com/personal-finance/airline-cancellations-skyrocket-what-to-do-if-your-flight-is-axed/

The Metaverse.  Some envision a world where physical meetings are no longer necessary.  When you think about this … it is both fascinating, yet pretty scary (CNBC)

https://www.cnbc.com/2022/06/22/mark-zuckerberg-envisions-1-billion-people-in-the-metaverse.html

 

 

 

 

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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.