I've been putting the finishing touches on my Q1 Market Update, and as usual, there is a lot of information to digest. A strengthening US economy with less stimulus from the Fed, slower global growth with easing of credit conditions, a rising US Dollar, falling oil prices, lower bond yields, and no shortage of opinions as to what it all means. What do all of these factors mean to you and me? Ulcers, if we're not careful.
Fish Excuses
I was in the Corps of Cadets at Texas A&M University back in the late 80’s. I did not really know what I was getting myself into when I enrolled, as none of my family had ever even visited the campus prior to driving me down for Freshman Orientation Week (FOW). Freshman, or Fish, reported the week before school started for FOW to get military haircuts, have uniforms issued, and start to learn the routine of life in the Fightin’ Texas Aggie Cadet Corps.
One of the first things we were taught is that there are three acceptable answers to a question posed to a Fish by an upperclassman. The answers were:
- “Sir, Yes Sir”
- “Sir, No Sir”
- “Sir, not being informed to the highest degree of accuracy, I hesitate to articulate for fear that I may deviate from the true course of rectitude. In short sir, I am a very dumb Fish and do not know, Sir!”