Weekly Market Review
Michael Acho
Guardian of the Wealth of the Most Productive People on Earth | Creating, Protecting and Distributing Wealth for Clients
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Good afternoon,
?More than a few things bothering me this week. Don’t know why necessarily, it’s just one of those weeks I guess. In a nod to Meditations, I shall only briefly dwell on these incidents.
“You have power over your mind, not outside events. Realize this and you will find strength.” – Marcus Aurelius.
?Aside from the golf tournament, another highly anticipated event this week is the presidential debate.
Mike, will you watch?
Nah, that’ll be 90 minutes of your life that you’ll never get back. But I will be on the lookout for funny debate inspired memes, which I anticipate will be phenomenal.
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This headline bothered me. The CEO of Boeing was questioned by a senate panel, here is the headline, “Boeing CEO blasted by senate panel: ‘It’s a travesty that you are still in your job.’”
A travesty? Really? Granted, when doors come off of planes while in the air, that’s not good, but considering the success rate of air travel in general, it is a miniscule probability.
Congress might not want to throw stones, their job approval is historically low, https://www.statista.com/statistics/207579/public-approval-rating-of-the-us-congress/
?Next, I had a discussion with a young woman who began with “Everything costs so much! That’s because of greedy corporations and CEOs and shareholders raising prices to boost profits!”
Sigh…the ignorance is frustrating. Notice I said ignorance, which is simply a lack of knowledge. She’s an intelligent person, she just hasn’t done any homework in this subject. It’s frustrating that she would just parrot some soundbite she heard from some other ignorant source. Because WMR readers are informed, they know that doesn’t cause inflation. Nor does covid, nor does a dictator, nor does bad weather, nor does any number of other reasons. We’ve covered the inflation topic many, many times in the WMR so I won’t delve in again. I gently suggested to her that inflation is always, every time, a monetary issue and then suggested that she look up Brian Wesbury, the Chief Economist at First Trust Portfolios. He’s done an outstanding job of explaining it.
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This person too, is not unintelligent, he’s just inexperienced. For now…
?File this tidbit under “you have no idea what’s in store…”
I was chatting with a friend of a friend at a client appreciation event the other night. He’s younger than me and he and his wife are expecting their first child in September.
“It’s a girl, but we’re not telling anyone our name choices.”
That’s fantastic! Congratulations!
“And my wife is kind of a night owl and I’m more of a morning person, so we think we’ve got the schedule worked out too.”
Awww, you guys have the baby’s schedule figured out already? That’s so cute.
Nothing else for me to say, so I just left it there and went to talk to some other people.
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And lastly, I’m not sure what to make of this encounter.
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?I was on my way to the gym early the other morning, as I am pretty much every early morning. I was heading east on a local road which has a tree lined and grassy median separating the eastbound and westbound lanes. I stopped at a stop sign and glanced over at a woman in another car stopped at a stop sign in the westbound lane. She looked at me and very intentionally greeted me with a mean face and an obscene hand gesture. I was a bit taken aback, I don’t think I knew this person and I was certain I had not impeded or obstructed her westbound progress, so why was she upset enough with me to flip me off? Hmmm.
When I arrived at the gym, I mentioned the episode to a couple of friends and jokingly pointed out that this lady didn’t know me well enough to dislike me that much. “Usually, a woman has to go out with me a couple of times before they feel strongly enough for an obscene gesture!” To which one of the trainers offered, “maybe she DID recognize you and THAT’S why she did that.”
领英推荐
Hmmm, I hadn’t thought of that, but it’s a very good point.
?Included for no reason other than I’m a fan, the Blues Brothers was released 44 years ago this week, on June 20, 1980. One of my favorite movies of all time. Not only a fantastic comedy but a tremendous musical as well. And an interesting story of how it got made.
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This week’s comedian review is Nicole Burch’s Amazon Prime special from 2020 titled “Never Been Kissed.” Nicole showed up in my “you might like this” feed, as do many comedians I’ve not seen before. Whatever AI that Amazon uses got it right this time, I liked her. This special was a little different in that rather than a series of disparate jokes or multiple unrelated premises, it was basically 50 minutes of one long bit about a date that went wrong. Of course, there is the set up to the story and lots of additional commentary and supplemental details which totally bring the story to life. She says it’s a true story about meeting her Hollywood crush at a party and going on a date with him the next night. The date was going well, up until it wasn’t. And the story is funny. A very occasional curse word, but otherwise unoffensive and enjoyable. Look her up if you’ve got Amazon Prime. Full disclosure – I am an Amazon Prime customer as well as an Amazon shareholder.
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Next week’s message will have a report back from my experience at this year’s Rocket Mortgage Classic. Stay tuned.
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This week’s chuckle is 4 minutes of Nicole Burch discussing the difference between dating in Los Angeles and dating in Kansas, https://youtu.be/zSOcQko_iLY?si=h4VrBTI1v4_e_Ru3
Safe for work.
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LF30 – “You can’t stop the waves, but you can learn to surf.” – Jon Kabat-Zinn.
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Have a great week and stay healthy.
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Michael J. Acho, MBA, CFP? Private Wealth Advisor --------------------------------------------------- Osaic FA, Inc. 20505 West 12 Mile Road Southfield, MI? 48076 248-948-5100 direct 248-948-5101 fax 248-933-4339 cell
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