MidSouth Week in Review
July 19, 2024

Weekly Update from Fund Manager Buzz Heidtke, MidSouth Investment Fund

For the week the S&P declined 2.7%.  Gold made a new high at $2469.  Wholesale gas declined from a $2.55 high to $2.45.  Sources:  Wall Street Journal and New York Times

Brokee – Someone who buys stock on the advice of a broker – Jim Fisk and Robert Barrow

Old Age President – In 1987 Ronald Reagan was 76 and in his second term as president – Wall Street Journal

Electric Autos – Last year more than 4% of the cars sold by manufacturers and rental companies were electric.  So far this year the number is only 1.4% - Rental Agencies

Bankers – They lend you their umbrella when the sun is shining and ask for it back the minute it starts raining – Anon

Apartments – Step inside newish luxury apartment buildings in cities such as Nashville, Austin, Salt Lake City, or Atlanta and you’ll find leasing agents hawking discounts: Eight weeks free! No fees! Comped parking! Then here are the onsite amenities to woo prospective tenants, such as boxing gyms, coffee shops, and doggy day care.  These apartments aren’t cheap, but they can feel like bargains compared with the costs of buying and maintaining a home right now…. In May, owners could expect to pay 35 percent of their income on housing, compared with 29 percent for renters, according to Zillow. – Business

Vacation Days – U.S. workers are allotted 12 vacation days a year on average, according to a Harris poll – yet they usually use up only 11 of them.  French workers, by comparison, get 31 vacation days and tend to take 29 of them – Sherwood News

New Vehicles – the average out-the-door price for a new vehicle is on track to drop this year for the first time in more than a decade.  In the first half of the year, the average price paid for a new vehicle fell 3% compared with the same period last year, to about $45,000 – Wall Street Journal

Kids Meals – one in every five children in the U.S. lacks access to food and nearly 30 million kids depend on meals they get at school – Feedthechildren.ny

Car Prices – both new and used, will soften over the rest of the year, continuing the declines we are already seeing.  New cars are now being sold at 97% of list price on average, vs. 102% back in 2022 – The Kiplinger Letter

Back Pain – If you’ve got lower back pain, try going for a hike.  That’s the conclusion of the first major study into walking as a treatment for pain, says Researchers in Australia followed by some 700 adults who had recently had an episode of back pain.  Half were put on a walking plan, with a physiotherapist instructing them to walk 30 minutes three to five times a week – The Guardian

Unbelievable – 21 year-old Carlos Alcaraz won his second Wimbledon title this week beating Novak Djokovic.

Kamala Harris – Not only does Mr. Biden trail Mr. Trump, but he also fares worse than Vice President Kamala Harris, the only other Democrat tested in the poll.  She ran about two points ahead of Mr. Biden, trailing by one point in Pennsylvania while leading by five points in Virginia – New York Times

Dolly Parton’s House - Celebrity Houses | Major Properties | Dolly Parton #house #mansion #googleearth | Instagram

10 Oldest Cities In USA - https://www.instagram.com/reel/C8qm2wqAULr/?igsh=MmdkcGNlb2g2aTYx

The material was prepared by MidSouth Investment Management LLC, and does not necessarily represent the views of the presenting party, nor their affiliates.  This information has been derived from sources believed to be accurate.  Please note – investing involves risk, and past performance is no guarantee of future results.  The publisher is not engaged in rendering legal, accounting or other professional services.  If assistance is needed, the reader is advised to engage the services of a competent professional.  This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty.  This is neither a solicitation nor recommendation to put through a regular purchase or sell any investment or insurance product or service, and should not be relied upon as such.  This material represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results.  Investments will fluctuate and when redeemed may be worth more or less than when originally invested.  All economic and performance data is historical and not indicative of future results.  Market indices discussed are unmanaged.  Investors cannot invest in unmanaged indices.