She’s a Winner
Posted on Sunday, November 21st, 2021
First things first – She did it!!! Diane and her team won city finals!! The week leading into the match was filled with stress and tension. She played a ton of tennis to get prepared, ate right, made sure she got adequate rest. All this stress. All this preparation. While Diane and her partner got warmed up against their opponents I went to the car to drop off Diane’s coat. I came back and it was over. What? On the fourth point of the match Diane hit a drop shot just over the net. Her opponent took off to get it and stopped. She pulled a calf muscle. She was in tears on the court. We felt so bad for her but she just could not continue. The match was over. Ten minutes tops. All that stress and prep work and it was over in ten minutes. In life you can prepare and worry but you just never know the results. It’s a great life lesson I suppose. So much of what we worry about in life never comes to pass.
How important was the win? My golf trophies are all in our bedroom closet. This one is hanging over the mantle.
Central bankers seem to have a way of telling things a bit more bluntly when they no longer work in Marriner Eccles building. This week Bill Dudley, former NY Fed President warned that the Fed is “between rock and hard place.”
“On one hand, evidence continues to accumulate that the Fed is behind the curve in removing monetary policy accommodation. On the other, the Fed has locked itself in with a regime in which it won’t raise short-term rates until after the tapering of asset purchases is completed in June.”
He said “hope and pray” that inflation abates is not a strategy, warning, “If it waits, the economy could significantly overheat, requiring the Fed to jam on the brakes, precipitating an early recession.”
“Most likely, it will be resolved by the Fed sitting on its hands and hoping for better news on inflation, labor market supply and inflation expectations. Hope is not a strategy.”
It was a very interesting week. The market which looked to breaking in favor of the bulls turned lower on a potential COVID lock down in Germany. The technicians on the Street call it a failed breakout. It isn’t quite one yet but next week may prove decivisive. There were a very large number of options that expired on Friday. It was the second largest one of 2021. This means that there is potential for the market to become unlocked. This potential to unlock could see the market move lower but I think the bulls may have gotten lucky here. Holiday weeks are usually up weeks as no one likes to take on potentially violent short position when they are trying to relax with the wife and kids. It is more likely that the market continues to move in favor of the bulls. No guarantees but that’s the way to bet.
Thanksgiving is my favorite holiday. The family, the fun, the food and drink. Not to mention the football. Have a great week everyone.
I think we aspire less to foresee the future and more to be a great contingency planner… you can respond very fast to what’s happening because you thought through all the possibilities, – Lloyd Blankfein
A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty. – Winston Churchill
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Disclosure: This blog is informational and is not a recommendation to buy or sell anything. If you are thinking about investing consider the risk. Everyone’s financial situation is different. Consult your financial advisor.