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Good morning.

What could be more nerve-racking than Election Day?  Some will, of course, think it to be the $2 billion Powerball drawing … which was delayed … but the numbers are finally in (and much to my extreme disappointment and enormous surprise, I didn’t win).

Meanwhile, stocks are up so far today … which the Wall Street Journal claims is quite typical for a mid-term election … using data since 1970.  The reason most often given is related to a split government … which polls show may happen in the days to come … and gridlock in Washington is actually seen as a good thing by investors.

And how have stocks done following the midterm election?  Hold on to you hats.  According to Forbes, there have been 18 mid-term elections since 1950 … and not only was the 1-year market return following the election positive all 18 times … but the average returns were 18.6% (vs. 10.6% in other years).

All that sounds good, but we have possible recession and inflation to contend with … so how might that affect things?

Well, one area that boosted inflation … the increase in rents … could be slowing … as RealPage Market Analytics claims a sharp decline in October and Deutsche Bank calls for a reduction in inflation rate growth as it pertains to rentals.  The Fed would like to see this (at least, I think they would).

Oh, and before I forget … a lot of people seem to play Wordle.  As noted below, the rules changed slightly to make it a bit more challenging.  I will say that I find it much more interesting to play a related game called “Quordle” (quordle.com) which takes a lot of the “luck” out of things.

That about wraps it up for today … as I have to run out to vote …

… and re-check my Powerball numbers.

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 November 8, 2022

As of 11:18 AM today

Another day, another comment … as a former Fed official gives the view that we will have a mild recession next year (CNBC)

https://www.cnbc.com/2022/11/08/us-likely-headed-for-mild-recession-in-2023-eric-rosengren.html

… but that might not matter if you were lucky enough to pick the winning Powerball number.  After a delay … the numbers were finally drawn (CNBC)

https://www.cnbc.com/2022/11/08/powerball-results-record-1point9-billion-jackpot-drawing-delay.html

The drug, Paxlovid, appears to help shorten the effects of Covid … and now a new study tells us the risk of “long Covid” might also be reduced (NPR)

https://www.npr.org/sections/health-shots/2022/11/08/1134982401/new-va-study-finds-paxlovid-may-cut-the-risk-of-long-covid

… but it is not only prescription drugs that are used to fight disease … for a new claim is that beer can fight Alzheimer’s (NYPost)

https://nypost.com/2022/11/07/does-beer-hold-the-key-to-fighting-alzheimers-disease/

How many sites do you go to that require passwords?  The answer is probably too many … but if these passwords get lost, don’t panic … they are hidden on you computer (CNET)

https://www.cnet.com/tech/computing/all-your-wi-fi-passwords-are-saved-on-your-computer-somewhere-heres-how-to-find-them/

One of the most interesting games of late … which people probably play to feel good about their intelligence … is Wordle.  You might find it more challenging as rules changed (WashingtonPost)

https://www.washingtonpost.com/video-games/2022/11/07/wordle-new-answers-new-york-times-update/

Sorry to toss in my opinion here … but everyone (of either gender) should know how to cook at least 3 dishes to perfection … and become “known” for them (ArtofManliness)

https://www.artofmanliness.com/living/food-drink/why-every-man-should-have-3-signature-dishes/

 

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.