Sorry if this sounds a little gross, but there is an interesting story about boiling a frog. The fable claims that if you put a frog in boiling water, he will jump out at once … but if you put the frog in room-temperature water and turn up the heat … he will not recognize the danger … and will slowly be cooked to death.
Why do I bring this story up? Well, if we had a day in which the market fell 360 points … we would take notice … and business news reporters would be looking for reasons (even, of course, when none really exist). But drastic headlines are missing because the recent 360-point decline occurred over a matter of days … and we, as frogs, don’t seem to notice … even though the heat … in which our portfolios are immersed … may have been turned up a bit … with the trade and tariff situation controlling the burner at the present time.
Of course, I am rushing through this today as in a few minutes my focus will be on the hearings surrounding Supreme Court candidate, Kavanaugh. I just can’t believe it has come to this … as everything seems so divisive. We are all at fault (especially leaders of both parties) … for don’t we just want to select people who are fair and just? Over many years it has turned into selecting those who favor the views of one political side or the other. How and when did we let this happen? And how do we get it back?
The most interesting article today that I found is somewhat related … and is the last one below … as one astute individual is calling social media “the cancer of our time.”
I will admit that I go on social media a bit too much … mainly as a voyeur as I don’t dare post things (other than important copies of Wit & Wisdom) … but I get the sense there is much time wasted … and can’t believe the political fights I see on Facebook.
Those who are friends … please continue to post pictures (not too many) of your families and trips … leave the political arguments off … and the food pictures … really?
Maybe the gentleman is right and social media … fake news and all … is a big problem. Calling it a cancer might be a little harsh …
… but it is something many of us are starting to get quite sick over
… for it appears we are already starting to sneeze.
Have a great day,
Joseph G. Witthohn, CFA
Emerald Asset Management PA, LLC
610 Freedom Business Center Drive
King of Prussia, PA 19406
Direct: (610) 285-9905
A Quick Look at the News
Sept 27, 2018
Joseph G. Witthohn, CFA | firstname.lastname@example.org
… as of 10:00 AM today …
Second quarter GDP growth still looks to be around 4.2% … which a few years ago we would have applauded. But today we talk of tariffs and wonder what the future holds (Reuters)
… for there is quite a bit of concern among CEOs that a trade war will not be in our … I mean, their … best interest … and this message is being broadcast via the head of the Fed (Fortune)
It will be interesting to see the result of this … as McDonalds is trying to make its burgers more “natural” … as … well … customers demand healthier options (USAToday)
… but that is not the only corporate giant thinking of changing their ways to meet demand. Fewer cigarette smokers and more pot smokers … results in “big tobacco” having an increased interest (NYPost)
Virtual Reality is really (I mean, really) interesting … but it has not taken off as many (hand raised high) hoped. This may be about to change thanks to improved technology (BBC)
… but many things are about to change. The flying car (no, it’s not called the Wallenda … but it should be) is about to make its entrance (DailyMail)
Where would we be without social media … better or worse off? One very rich man calls it the cancer of our time … but, if so, what would be the cure? It might be too late for us to change (CNBC)