October 2017 Market Letter

“It takes a licking, and keeps on ticking.”

One of the most enduring commercial tag lines ever is this chestnut that promoted Timex watches for over two decades. The voice over man, John Cameron Swayze, was perfect for the role. Watches were put under water, run over by vehicles, and left out in thunderstorms. And still, they kept on ticking.

Kind of like today’s stock market, don’t you think?

Let’s just take a brief overview of recent events that could have derailed equities’ positive performance:

Hurricane Harvey devastating southeast Texas with record flooding
Hurricane Irma causing unprecedented wind damage to Florida
Hurricane Maria basically demolishing Puerto Rico
Brinksmanship, including near daily insult trading, potentially leading to…

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September 2017 Market Letter

“Well there’s flooding down in Texas… all the telephone lines are down… well there’s flooding down in Texas… all the telephone lines are down… and I’ve been trying to call my baby… Lord and I can’t get a single sound…”

There’s no more appropriate song for what’s happening in southeast Texas than this one from the late native Texan, Stevie Ray Vaughan. Hurricane Harvey has been a storm of biblical proportions. My thoughts and prayers go out to all those affected by the unprecedented rainfall. I couldn’t be more proud of the first responders and thousands of volunteers who have worked tirelessly to save lives. Unlike the major rifts occupying…

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August 2017 Market Letter

For the last two months, I have refrained from saying anything about the current American political landscape. If I elected to do so for July, this missive would be a novella. Let’s simply suffice it to say that the chaos in Washington is unlike anything I’ve ever witnessed, including the Nixon implosion. We also can add ineptitude on both sides of the aisle to the equation. Now that the circus and/or drama about repealing and replacing Obamacare has ended, hopes for achieving anything in the way of tax reform or infrastructure spending before year-end seem dim. Yet the stock market continues to flourish. It’s almost as if we’re living…

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July 2017 Market Letter

“How you going to keep them down on the farm after they’ve seen Par-ee?”

This month’s music rolls back almost a century to a popular song from 1919 that questioned the ability of rural soldiers following World War I to return to rural life after they’d seen the big city of Paris. The appropriateness for this missive is that it hasn’t been easy for me to get back into the swing of things after returning from Europe Sunday night. Many of you liked my last travelogue from Greece and Israel last fall, so I thought that I’d share some memories of the past ten days.

Lynne and I flew into Amsterdam,…

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