MidSouth Week in Review
March 22, 2024

Weekly Update from Fund Manager Buzz Heidtke, MidSouth Investment Fund

For the week the S&P was up 2.5%.  Home sales leaped as rates fell.  Wholesale gas rose to $2.75 from slightly below $2.00 in December.  Housing stats were up 10.7% in February vs. January.  Gold hit $2.25 before declining to $2.18.  Sources:  Wall Street Journal and New York Times

Real Estate Commissions – The National Association of Realtors’ is upending the home buyers commission system.  In doing so the organization agreed to make it easier for home buyers to negotiate fees with their own agents.  If you remove some of their costs it should make homes more affordable and attainable – New York Times ….. For the average-priced American home for sale, $417,000, sellers are paying more than $25,000 in brokerage fees.  Those costs are passed on to the buyer, boosting the price of homes in America.  That fee could fall by between $6,000 and $12,000, according to TD Cowen Insights’ analysis ….. Deleon Realty in California began advertising in January that sellers could list their homes for a commission of 3.5% or less.

Bumper Sticker – spotted on a Manhattan taxi:  Horn broken, watch for finger – Playboy

Grocery Profit Margins – Using public data on profits in the grocery retail industry, the F.T.C. found that in the first three quarters of 2023, food and beverage retailer revenues reached 7 percent over total costs.  That was up from over 6 percent in 2021 – New York Times

Bitcoin – hit a new record of $71,000 and is up 63% in 2024, lifting the overall value of digital assets to about 2.6 trillion – Bloomberg  ….. Over the last two days Bitcoin dropped to $64k – Buzz

The Quickest – way to double your money is to fold it and put it in your back pocket – Will Rodgers

Office Buildings – According to data from real-estate consulting firm Colliers, the U.S. vacancy rate has risen from 11% in late 2019 to 17% today, higher than at any point in the 2008 global financial crisis.

Strange – This week a Black male got a kidney from a genetically engineered pig – New York Times

The Warmest Winter – The lower 48 states just had their warmest winter on record, with an average winter temperature hitting 5.4 degrees Fahrenheit above average.  Globally, last month was the warmest February on record, and the ninth straight month to set a temperature record – Axios

Adult Children – 47% of parents still financially support adult children per CNBC.  These parents are shelling out $1,384 a month, on average – Jay Kumar

Loan Cancellations – To date, the Biden administration has canceled $143.6 billion in student loans for nearly four million borrowers through various actions, fixes and federal relief programs – New York Times

Weddings – In 19.9% of weddings last year, brides wore dresses that cost between $250 and $500.  Almost 30% were willing to spend a little more (up to $1,000), while only 15.5% splurged on a dress costing more than $2,500, according to figures from The Wedding Report

LGBTs – 7.2% is the part of the U.S. population are LGBTs, including 19.7% of Gen Z’s (1997-2004) and 11.2% of Millennials (1981-1996) vs. less than 4% of the other age groups – Statista

Chocolate – Cocoa prices have soared.  Chocolate futures ended the week at $8,018 a metric ton in NY, more than 3x the price a year ago – FactSet

A Bank – is a place that will lend you money if you can prove that you don’t need it – Bob Hope

Drinking – “Now don’t say you can’t swear off drinking; it’s easy.  I’ve done it a thousand times.” – W.C. Fields

Classical Music - https://www.instagram.com/reel/C2GPLdlsxgC/?igsh=MXhtdjl1cTQ3dXgydA==

Girls Will Be Girls - https://www.instagram.com/reel/C2zrXhzvmQH/?igsh=Znh0ZDN1ZTQxOWti

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.