MidSouth Week in Review
September 20, 2024

Weekly Update from Fund Manager Buzz Heidtke, MidSouth Investment Fund

For the week the S&P was up 1.6% and for the year it is up 20.25%.  The average interest rate on the 30-year mortgage has fallen to 6.09% from the high of 7.8% after the Feds cut the interest rate by 50 basis points.  Bitcoin was up 6.3% for the week closing at $62,928.  Sources:  Wall Street Journal and New York Times

Bankruptcy – filings in the U.S. rose by 8 last week, the second-highest week in 2024.  Meanwhile, in Q2 2024, the number of ongoing Chapter 11 cases hit 2,462, the highest in 13 years.  By comparison, in Q1 2002, bankruptcies were 60% lower at 980.  Higher interest rates, rising prices, and declining consumer spending are behind the surge in bankruptcies – Time Magazine

S&P 500 - was down 4% one week and then up 4% the next week.  This happened in 2000, it was higher a year later 82% of the time and the median higher 18.8% a year later- Kobeissi Letter …..History says starting with 25 bps cut results in an average S&P return of 10% in the next 3 months and -15% in the 12 months when starting with 50bps cut.

U.S. Car Insurance - costs spiked 15% in the first half of 2024 to $2,329.  The average annual car insurance has been up 49% since 2021.  Average premiums are set to hit $2,469 in 2024, making an annual increase of 22%, according to Insurify

Born To Be Alive - https://www.instagram.com/reel/C-fMEeLOm7c/?igsh=MWdob3F4eDY1ZjV0cA==

15 Most Visited Countries - https://www.instagram.com/reel/C_K1oNIsW3V/?igsh=MXIyM2h1bW1scmhocw==

Mr. Sandman - https://www.instagram.com/reel/C-5LhxTOZgt/?igsh=MTBsMXFpbjd2NnNuYQ==

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.