MidSouth Week in Review
October 20, 2024

Weekly Update from Fund Manager Buzz Heidtke, MidSouth Investment Fund

For the week the S&P was up 0.4% and for the year it is up 23.7% making a new all-time high this week.  Gold trading at yet another record-high above $2,700 and closed at $2,735 for the first time.  Bitcoin was up 10% for the week and closed at $68,6011. Wholesale gas price fell 5.5% for the week to close at $2.03.  Sources:  Wall Street Journal and New York Times

Oil - In 2024, U.S. net oil exports have reached 2.0 million barrels per day on average, near the most on record.  By comparison, in 2006, net imports were as much as 13.4 million barrels per day and have been declining ever since. Currently, America pumps more than 13.4 million barrels per day and is the world’s largest oil producer - Time Magazine

S&P 500 – The 30-year return for the S&P 500 is 1,135%, meaning it has risen more than twelvefold in the past 30 years.  On an annualized basis, the index is up 8.8% per year over 30 years, 11.3% over 10 years, and 28.7% over the past three quarters - Axios

Health Insurance - The average cost of a family’s annual health insurance premium is up 7% over the last 12 months to a record $25,572.  This is the second consecutive year with a 7%+ increase, pushing premiums higher by $3,109 in just 2 years.  Since 2000, the average health insurance premium has quadrupled - The Kobeissi Letter

Auto Loans - Auto loan 90+ day delinquency rates are now 2.88%, the highest since Q2 2010.  Auto loan debt held by American rose to a record $1.63 trillion, 92% above 2008 levels.  Car insurance costs jumped 15% in the first half of 2024 and hit a new record of $2,329 – Ryan Detrick

Couple - https://www.instagram.com/reel/DA6MBDiulFq/?igsh=MTFrMDM2Y2Z3MGE4bw==

Let’s Twist Again - https://www.instagram.com/reel/DAbXGFlpOzf/?igsh=MXU4bTd2cXl6b2dhaw==

Elvis - https://www.instagram.com/reel/DA3f3CqC-Gh/?igsh=ZDg0YzBpaTVkeTMy

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.