Weekly Market Review
Michael Acho
Guardian of the Wealth of the Most Productive People on Earth | Creating, Protecting and Distributing Wealth for Clients
Good afternoon,
?“Mike, I really enjoy your WMRs. I don’t always agree with them, but I do enjoy them.”
Perfect. Everyone is not supposed to agree, but I’m glad you enjoy them. Thank you. If you think I’m way off base about something, then give me a call and change my mind. “When the facts change, I change my mind. What do you do sir?” – attributed to John Maynard Keynes, but that may or may not be correct.
?This has been one of those week’s where I feel like I’ve been busy, but then I realize that I haven’t really accomplished anything. Not sure what’s going on, but feeling a little like a hamster in a wheel; running fast but not going anywhere. And before you know it, I’ve wasted 45 minutes watching a YouTube video about how they hand build a Bugatti Chiron, https://www.youtube.com/watch?v=ihfjEFGdZdc
This one about the Porsche 911 is pretty good too, https://www.youtube.com/watch?v=mOBl3tcGlLA
And speaking of cars, this week is Dream Cruise week here in the D.?Dream Cruise was initiated 25+ years ago and takes place along Woodward Avenue in metro-Detroit. https://www.woodwarddreamcruise.com/
Cars have been cruising since they were first invented, and this event is an homage to cars and car culture. The actual cruise is scheduled for the third Saturday in August every year, but the cars are out in force most of the evenings during the month. From old classics to hot rods to exotic supercars to one off custom jobs, there is something for everyone to see. If you don’t like cars, stay away from the area all week as you’ll be frustrated with traffic and onlookers. If you have an interest in cars, head on up and enjoy yourself. Back when my son was young, we’d ride our bikes into town and spend the afternoon riding up and down Woodward watching the festivities. He usually has better things to do these days, but I typically don’t so I’ll plan to venture into the melee and spend a couple of hours driving a total of about 10 miles. Good times.
?Back to a bit of business. I opined about the latest government spending bill last week, so I won’t spend much time on it again, but I have heard that there are some things in there that might have some relevance for investors. Full disclosure, I have not read the whole thing, and probably won’t, and let’s assume that at least some of the money will be spent where they say it will. Which is a big assumption, I know. Here is a summary, https://www.cnn.com/2021/07/28/politics/infrastructure-bill-explained/index.html
It purportedly includes things for infrastructure, roads, bridges, tunnels, water systems, airports, etc. While no one can argue that those things don’t need attention, it stands to reason that companies in those industries should benefit from more work.?There are ways for investors to participate in those areas. There is mention of support for electric vehicles and charging stations.?There are funds in there marked for environmental remediation. I’ve also heard that there is something about crypto regulation in the bill. Not sure why that would fall under “infrastructure,” but whatever. Generally speaking, I’m opposed to most regulation as I think it stifles innovation and commerce, but I have been reading that even some crypto enthusiasts want some regulation. They feel like it’s inevitable anyway and also feel that it will likely shake out many of the lesser participants, which could be good I guess. While the crypto space has cooled down from a few months ago, it has not disappeared. Nor will it. There still are no SEC approved investment vehicles for the various currencies, but there are some ways to participate in the industry and participate in those who participate in the industry.?If you think, like I do, that crypto is a real thing, albeit a speculative thing at best for now, give me a call and we can talk about it.
?As I’ve mentioned often, I try not to pay too much attention to the news or the markets, simply because it’s usually the same stuff but only on a different day. Whoever is in power at the time is the biggest buffoon in the history of the universe and is causing the end of the world as we know it. Or some other crisis, (fill in name of appropriate foreign and/or domestic and/or economic and/or whatever crisis here…) is causing the end of the world as we know it. Or some other government action/policy/regulation/law/etc. is the worst idea in the history of the universe and is causing the end of the world as we know it. Or somebody said something that someone else in the twitterverse takes exception to and if we don’t cancel said violator, it will cause the end of the world as we know it.?In short, everything is different but nothing has changed.?Lighten up Francis. Nothing is ever as bad as the Chicken Littles want us to believe. The world is not going to end, ever. We humans, however, are here for only a blink. So plan accordingly.
“If you believe in forever, then life is just a one night stand,” – The Righteous Brothers, “if there’s a rock and roll heaven, well you know they’ve got a hell of a band.”
?I was on my way to a meeting a couple of weeks ago, yes, an in person meeting, and I was a bit apprehensive. I don’t always feel that way, as most of my meetings are good, but this one had the potential to go either way. And then right on schedule, the car in front of me had a personalized license plate, ITLLBOK.
It’ll be OK. My anxiety dropped right then and the meeting went fine. Just goes to show that signs appear exactly when you need them.
Here is the Five Man Electrical Band explaining it, https://www.youtube.com/watch?v=c9lh7lqZojc
?And just to close out with something that some of you may or may not agree with, this report says that 61% of Americans paid no federal income tax in 2020. https://www.cnbc.com/2021/08/18/61percent-of-americans-paid-no-federal-income-taxes-in-2020-tax-policy-center-says.html
If this is true, and it is, that’s why I get fairly heated when some pol grandstands and says “the rich need to pay their fair share.” They are, in fact, paying well more than their fair share, but that’s not a good soundbite.
?This week’s chuckle is Jerry Seinfeld’s “Comedians in Cars Getting Coffee.” Jerry takes different comedians out for coffee in a different classic car. Some episodes are funnier than others. My system won’t let me link to Netflix, but if it did, that’s where you’d find the show.?Here is the IMDB page, https://www.imdb.com/title/tt2314952/
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LF27 –?“If your car could travel at the speed of light, would your headlights work?” – Stephen Wright.
?Have a great week and stay healthy.
?Lincoln Financial Advisors Corp. does not participate in the crypto marketplace. This material includes links to third party sites not affiliated with Lincoln Financial Advisors. Lincoln Financial Advisors is not responsible for the content and does not guarantee the accuracy of any information or material contained therein. The opinions expressed are those of Michael Acho and not necessarily those of Lincoln Financial Advisors Corp.?CRN-3725225-081921
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Michael J. Acho, MBA, CFP?
领英推荐
Private Wealth Advisor
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3 年Yes, there are always signs…you just have to ask for them and notice/receive them.