Blog

Given the volatility of the market in October, I wanted to drop you a quick line to discuss it, why it happened and where I believe we are going from here.  As you may be aware, the stock market fell about 7% in the month – despite a big boost in the last few days.  The market actually flirted with being down 10% right before month-end.

I hate the market being down.  I know you do too.  But what I feel is more important is to discuss why the market is down.  

A hot topic in both politics and the investing community these days is marijuana stocks.  Everyone wants to know about it, but no one wants to talk about it.  Mary Jane is taboo.  But just because it’s taboo doesn’t mean there isn’t money to be made with shrewd investing.  I thought I’d spend a few minutes discussing the industry, my opinions on where it might go from here and if it might be the next Apple or Facebook.

Some years are truly stranger than others.  Here in New England, we’ve had a fascinating year of weather.  This past February, we saw temperatures reach 70 degrees.  We had a heat-wave in July and August that was never officially declared a heat-wave.  And just as drought-conditions were setting in, we hit a rainy patch and solved our water problems.

This Saturday, we will experience a significant anniversary.  On September 29th, 2008, the stock market made its first major drop in what became a 6-month mega-crash.

That first day, the market dropped nine percent.  From the top in 2007 to the bottom on March 3, 2009, the market dropped 56%.  It was unprecedented and the worst market drop since the Great Depression.

Years ago I was watching a local comedian.  He was mentioning how things were different in New England.   He said that they had Dunkins in other areas of the country. . . but not on every street corner!  I can relate to that on my commute.

On my way to work, I pass 7 Dunkin Donut locations.  One at the top of my street, one at the next major intersection, another just over the line into the next town, two more in the next town.  When I reach Fall River, I pass another 2 Dunkins and could throw a rock and hit three more that aren’t on my route but are close.

When I was a boy, my most favorite place in the world was my grandparents’ house.  I’m sure that’ a common theme for many folks.  It’s a grandparent’s nature to spoil a child with sweets and late bedtimes.  And while my grandparents did that, it isn’t the reason I loved being there.

“Mimi” and “Pops” lived in a 2-family house in Dorchester.  Pops was a Teamster, hauling beer for Anheuser Busch.  He was a Teamster so long, he saw the rise of Jimmy Hoffa and then the rise of Hoffa’s son James Jr. during his working career.  

Just over two years ago, the United Kingdom held a landmark vote to leave the EU.  While the decision, dubbed Brexit (British Exit), was expected to be defeated, it created significant turmoil in the investment markets all over the world.

As you recall, Brexit passed.  And for a brief moment, the world had turned upside down.  All was lost.  Then. . .  it wasn’t.  Life moved on.  Brexit wasn’t the tragedy it was built up as.  So shortly after the vote, the markets rose and hit new records.

I’ve been on a whirlwind tour of America in the last two weeks.  First, as you know, my daughter Samantha got married in Florida.  Late last week, I drove her car out to her in Missouri and then flew back home from there.

I don’t normally get a window seat on the airplane, but as luck would have it, I snagged one on the flight out of Kansas City International.  As I flew back over Missouri, Illinois, Indiana and the like, the area seemed so flat. Like as flat as a desktop. 

My mother-in-law, Jan,  was wonderful at many things.  Like everyone, she had her special skills that made her, well, special.

For instance, she made some awesome traditional New England meals.  From a boiled dinner to stuffed clams to Indian pudding, she made it all.  

She never forgot a birthday or other significant date.  Invariably, a birthday or some odd anniversary would arrive with a card in the mail or a small package dropped off at the doorstep.

Last time, we discussed the funny sales tax laws in Massachusetts and some information regarding corporate income tax changes.  You can click HERE to catch up if you need to.