As a consequence of the improving economy, the tax cuts, and repatriated funds, merger and acquisition activity continues at a pace not seen in decades. That’s positive, as are stock buy-backs and increasing dividends—situations on which we will continue capitalizing. Unless the dreaded ‘Black Swan’ event occurs, we see little evidence of this bull market (the longest in our lifetime) ending any time soon. It bears repeating (never a problem for us) that we are more interested in owning interests in Great Companies than where the ‘market’ is going.
A personal ‘puzzlement’ (as Yul Brynner exclaimed in The King & I): I have worn hearing aids for years (I prefer to think of them as audio enhancers). When I recently renewed my driver’s license I was informed that because of the hearing aids there would be a restriction in my new license.
“Pardon me? A restriction?"
“Yes, restriction F.”
"You will be restricted to only driving vehicles that have outside rear-view mirrors on both sides."
“Okay.” (Muffled laughter on my part.) Is a puzzlement!
Totally irrelevant, but interesting: