Good morning.

Another week … another mention of tariffs … this time on steel and aluminum.  But investors are not sure (once again) if this is factual or a negotiating strategy, as stocks are up across the board even as some strategists claim such a move would have a negative effect on both global trade and prices in the U.S. announcing concerns over “stagflation.”

And some regular folks are worried about prices … as while University of Michigan’s survey showed a slight increase in consumer views that inflation would be higher one year ahead, the 5-to-10-year inflation expectation was rather remarkable … as this belief here is price gains that far out in future sit at its highest level since 2008!

But friends that read my note will be upset if I did not mention last night’s Super Bowl dominance by the Philadelphia Eagles … though I thought the MVP would be the “Eagle’s Defense” … as this group made it impossible for the highly talented Chiefs offense to ever get their footing.

The half-time show … recognizing this is my opinion … I found to be quite difficult to watch and follow. Not that I would have preferred a bit of entertainment by The Partridge Family (which would have been better) but with all the talent on this planet … some of whom happened to be in the stands … the NFL certainly could have done better.

Meanwhile … while I am on the gripe wagon … I am not an Eagle fan by any means … but found myself in awe of what they were accomplishing in real time.  But for Tom Brady to take half of the last 6 minutes of game time to talk about his own experiences in big games was … well … really Tom?  I am sure some executives at Fox are wondering if the $375 million, 10-year contract was money well spent.

Speaking of money, ChartR had a report out this morning showing that “sports betting” is growing in leaps and bounds (ever since becoming “legal” in 2018) … fast approaching $200 billion a year … with reported cases of gambling addiction also skyrocketing.

That wraps it up for me today, as I will sit and figure out the results of my own gambling over the weekend.

My addiction has gotten bad … but the enormity of the value of prizes I find too attractive to pass up.

I even bought tickets this weekend to Amish Powerball …

… where the payout is up to 6 dozen eggs.

Have a great day,

Joseph G. Witthohn, CFA

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