August 2021

Magnified view of a calculator on top a notepad with numbers written on it

There’s no such thing as a free lunch. Ok, we agree with the anonymous ‘they’ when they say that there’s no such thing as a free lunch; however, we assure you this free offer is truly free. Unlike the proverbial lunch it can’t be eaten but never-the-less Is perhaps usable by you. We will be having a ‘Shredding Day’ soon: watch for more details in next month’s letter.

If you have any old records, i.e., tax returns, family private papers, etc. here’s a way to have them properly destroyed, and out of the reach of prying eyes, or even worse, the hands of scheming miscreants. And as Joe Namath blares out in those ubiquitous, irritating, insurance commercials, “It’s Free!”

As followers of science-and in the name of Dr. Fauci, we have a couple suggestions about your portfolio and the Covid-19 + Delta virus. First, when reviewing your portfolio reports, be certain to wear a mask. If you are sharing the review with a significant (or insignificant) other maintain a six-foot safe distance. Before reading the reports dip them in a basin of disinfectant (if that is not possible spray them with Raid or WD-40 or expose them to ultra-violet light for three and a half minutes. Ignore the fact that Fauci issued these instructions on Monday morning, then withdrew them later that same day.

After complying with the Fauci directions, in order to protect others from possible contact with whatever virus is on the reports (delta, echo, foxtrot, golf, etc.) burn them in a chamber that does not release any unhealthy particulates and/or noxious gases.

We thank you for your sense of responsibility—and humor.

The long-term market trend remains upward, although the daily gyrations are as consistent as Dr. Fauci’s opinion. (Ok, I’ll back off from picking on the good Dr.) As we wrote several months ago, the effect of the government flooding the economy with dollars has become strikingly evident in price increases. The media that praised the government’s largesse then now reports with serious concern what we expressed in our earlier letter—paying people more to stay home than they can make on at the job.

We are also concerned about, and prepared to take action on, a potential return to the inflation and interest rate extremes of the 70’s. Having experienced the multi-front challenges of that era, we have a very watchful eye on this possibility.

August is an especially good month to be kind to everyone, even those with whom we often disagree. (I’m trying, I’m trying!) So are the other eleven months.

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