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Listen to the latest episode of the Emerald Wit & Wisdom Podcast (12/07/23)


Good morning.

I once received a note from a reader, advising me that I should never claim not understanding something (sorry for the double-negative) … for it makes me seem to be less of an expert.  Well, I am going against that advice this morning as … when reading stories on the economy last night I really expected stocks to open lower … while futures point toward positive market action as the trading day begins.

What did I read that concerned me?  As Captain Renault famously advised his men in the movie Casablanca, I am rounding up the usual suspects: anticipation of moves by the Fed, a drop in a GDP forecast and inflation.

First of all, the Fed.  On Wednesday we learn the latest Fed views as expectations of an imminent cut appear to have died down and most economists are kicking the rate-cut can further down the road.

GDP estimates … even the typically more-optimistic GDPNow model out of the Atlanta Fed … showed a little slowdown in first-quarter growth. Not a big worry (as it is still positive) but something to keep an eye on.

And then we have our old friend, Inflation … as recent readings show what NBC News classifies as stubbornness… and the oft-quoted 2% Fed-claimed target appears to be more of a hope than it does a near-term destination.

Stocks look to be up today and while I don’t understand why, I am happy just the same.

Meanwhile, I also spent yesterday getting papers together as I started to do my taxes which I, maybe foolishly, do myself.

I was always good in math and am glad I learned about parallelograms in high school math, instead of receiving a lesson on how to do things like taxes.

… this really comes in handy during parallelogram season.

Have a great day,

Joseph G. Witthohn, CFA


A Look At The News | March 18, 2024

As of 10:47 AM today

Home foreclosures are rising rapidly … but only in certain states. Is it unclear though, if this is due to higher cost of living, or if “mortgage re-sets” are the cause (FoxBusiness)


… but one area where costs might be coming down is weddings … as those soon-to-be-married are starting to move away from the high-cost affairs (CNN)


Okay, we’ve heard it before and so much want to believe it … but Tesla promises quite an improvement in its “self-driving mode” that isn’t really self-driving (Electrek)


As Karen Carpenter once told us … loneliness is such a sad affair … and it is being realized by many as we move away from pandemic-caused isolation (Salon)


With the rise in air temperatures lately comes a nasty effect on the oceans … as they are heating up also … causing fish to take up residences in areas in which they are unfamiliar (NBCNews)


… and … speaking of moving … quite a few Americans are seeking out second passports as, for many reasons, some want to become “expats” (ScrippsNews)


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.