MidSouth Week in Review
November 10, 2023

Weekly Update from Fund Manager Buzz Heidtke, MidSouth Investment Fund

Nov. 17, 2023 | RedChip Companies


For the week the S&P was up 1.3%.  Crude hit its lowest level since December.  Bitcoin soared to $37,560 vs. a $26,832 low last month.  The yield on the 10-year Treasury bonds declined 50 basis points.  Mortgage rates declined a quarter-point vs. last week.  Wholesale gas declined from $2.97 in August to $2.12.  Sources:  Wall Street Journal and New York Times

 

BuzzBits

 

November – This is one of the particularly dangerous months to invest in stocks.  The others are December, January, February, March, April, May, June, July, August, September and October – Mark Twain

 

Vanderbilt University – Commodore Vanderbilt operated a steamboat between New Brunswick, NJ and Staten Island, NY, as early as 1818 and his wife managed a restaurant in New Brunswick.  In 1883, the Commodore contributed $1 million for the founding of Vanderbilt University.

 

Warren Buffett – began seriously investing when he was 10 years old.  By the time he was 30, he had a net worth of $1 million, or $9.3 million adjusted for inflation.  At age 90, he had a net worth of more than $81 billion.  A large portion of that, however, was accumulated after his 50th birthday – CNBC

 

Taylor Swift – is now worth an estimated $1.1 billion, one of only four musicians to earn the billionaire title – Forbes ….. I used to have breakfast with Taylor’s dad at the Nashville City Club every morning.  He was a broker at Merrill Lynch – Buzz

 

Credit Card Debt – in the U.S. rose by $48 billion in the 3Q 2023, to a record $1.08 trillion.  This means that total credit card debt is now up $400 billion since 2013 and $300 billion since 2020.  Meanwhile, interest rates on credit card debt are at a fresh record of 25%.  The average consumer is now spending $1,600 a month on their credit card.  Nearly 40% of U.S. households now have more credit card debt than savings.  The average household has nearly $10,000 in credit card debt – @Kobeissiletter 

 

College Degrees – for women. Eighty years ago they were expected to get a degree within two years of entering college.  If not, then friends would worry about their future.  My mother got her degree (Mrs.) within one year of entering college – Buzz

 

Work-From-Home – continues to decline, recently hitting 26%, down from an early pandemic high of 37%.  Companies continue to pull back on such benefits and insist that employees return to work – The Kiplinger Letter

 

Migrants – Overwhelmed by the arrival of 180,000 migrants in the past year, New York City is now offering new arrivals free plane tickets to anywhere in the world – Politico

 

Global Warming – A NASA study warns that the planet could exceed 1.5 degrees Celsius or 2.7 degrees Fahrenheit over the decade and that the world will warm by 2 degrees Celius by 2050.

 

Women – in New York working in 2022 earned 90 cents for every $1 earned by men.  Nationally women earned 87 cents for every $1 earned by men – New York City study

 

Illegal Border Crossings – The 2022 fiscal year set a record of 2.2 million illegal border crossings.  The numbers do not include crossings at official checkpoints.  Including those migrant crossings in the 2023 fiscal year hit a record high – New York Times

 

Retirement – Americans are working longer than ever, the average retirement age was 62 in 2023 vs. 57 in 1991 – Gallup Poll

 

Billionaires – More than 11% of the world’s billionaires, 242 out of 2,072, have held or run for political office – Northwestern University

 

House Prices – In a study of 20 of the largest metro areas, seven were below year earlier levels - Case Shaller

 

A Big Change Ouch! - https://www.instagram.com/reel/CzCvH9bi3Yo/?igshid=NjZiM2M3MzIxNA==

 

Chuck Berry - https://www.instagram.com/reel/CxZp43mL0hf/?igshid=NjZiM2M3MzIxNA==

 

Good Golly, Miss Molly - https://www.instagram.com/reel/CzNbkNsOzN3/?igshid=NjZiM2M3MzIxNA==

 

Blue Suede Shoes - https://www.instagram.com/reel/Cx_aq_fv2eb/?igshid=NjZiM2M3MzIxNA==

 

Beatles - https://www.instagram.com/reel/Cyl-GjouWyG/?igshid=NjZiM2M3MzIxNA==

 

 

The material was prepared by MidSouth Investment Management LLC, and does not necessarily represent the views of the presenting party, nor their affiliates.  This information has been derived from sources believed to be accurate.  Please note – investing involves risk, and past performance is no guarantee of future results.  The publisher is not engaged in rendering legal, accounting or other professional services.  If assistance is needed, the reader is advised to engage the services of a competent professional.  This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty.  This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such.  This material represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results.  Investments will fluctuate and when redeemed may be worth more or less than when originally invested.  All economic and performance data is historical and not indicative of future results.  Market indices discussed are unmanaged.  Investors cannot invest in unmanaged indices.




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  • Bob McCooey, Senior Vice President, NASDAQ Stock Market