For nearly a century investors get nervous this time of year. Unfortunately watching the market as closely as I do, one would think I would have sold stocks at the first sign of trouble in October. Nope, I expected better from a few of my conservative holdings , but they are not immune ($CVX, $XOM and utility CEFs and ETFs).
Shares of Exxon, the largest U.S. oil producer, rose as much 2.1% in early trading Friday before sliding to decline as much as 2.28% after the company said its third-quarter net income at $9.1 billion, or $2.27 per share, was off 54% from the same quarter in 2022.
Chevron’s shares, meanwhile, plunged more than 6% Friday after the No. 2 U.S. producer said its net profit fell 42% from the same period a year ago to $6.5 billion, or $3.05 per share on an adjusted basis. The per-share results missed consensus expectations by 28 cents.
“In other news”as the 6PM nightly news talking head would say, Rich broke his Fitbit Versa 2 watchband last night while raking the first drop of the leave this year. Bummer … but thankfully replacements on Amazon are just $7.99 or $9.99 for THREE (two of the three are the wrong colors for me, so a single black nylon band it will be).
Most people enjoy a day or week at the beach, but few who are younger get the opportunity to spend much more time than that enjoying the sand and surf. Thankfully Brenda and I have figured out how to do it … even if it is not on a sailboat as I had planned.
While looking up at the clouds earlier this month, the conversation shifted to just how our seasons and “where” the sun is over our Northern Hemisphere during each season in a year. This “flat earth” map semi-illustrates it if studied carefully.
The title of this post is a little disjointed, but since I don’t have all that much to say about either topic, I’m putting them in one post.
First, Taylor stretched out a long weekend with Megan in Key Largo Florida with his fraternity buddies at a wedding … and second, I’m just impress with the ingenuity involved in making this antique brass automatic candle snuffer (below the break).
While laying on the beach and watching the clouds drift over last week, Brenda stuck a granola bar in my mouth and I laughed, commenting that I was like a seagull … a Jonathan Livingston Seagull. She rolled her eyes as I headed down memory lane remembering and played the Richard Bach story (fable) from my youth. Eventually I pulled up the Neil Diamond soundtrack on my phone … and so for today’s Music Monday, here’s a live performance from 1977 on YouTube.
This whiny post is going to ring hollow for those going through serious problems … or even noticing that I was recentlydifficult time adjusting to shifting gears.
Brenda and I now have more unstructured time, particularly since Brenda’s surgeries and rehab (although I do still try to do work each day). The earlier than expected shift towards retirement has me adjusting to how to deal with more/increased spending at a time we have a lot less income (Brenda not working and for me, strolling on the beach and enjoying life … BUT I’m having a I’m purposely working less). We’re not yet to our Social Security FRA age or even Medicare, so I can now understand what those who tried to retire early complained about: More time but no income and higher expenses.
Today’s gripe is the 40% … yes 40% … jump in our annual auto insurance rates. We have not made a single policy or auto change …or claim … yet our annual car insurance rose 40% (even a policy re-write could not bring the number down)! Personally I’m not sure how those with a poor driving history or newer more expensive vehicles can afford all of the insurance necessary in a year? Since the other cars in my fleet (cough, cough) are on a separate collectable car policy, I’m now wondering just how much they will go up when the renewal date comes. Perhaps it is time to sell them and just live with two cars?
A warning for those still planning (especially for the self-employed small business types), once one nears their much anticipated retirement age, it can be difficult to shift from “saving and working towards a comfortable retirement” to starting to spend down one’s retirement savings. This can be even more challenging at a time of economic uncertainty. The current rapid inflation, jittery financial markets and a questionable economy makes all the years of planning even a little more dicey (and all of that is before wondering if the world is on the brink of war).
At first glance, a comet THREE TIMES the size of Mount Everestspeeding towards earth is enough to get my attention. After a little more reading about this “horned” cryovolcanic comet … it will supposedly pass us by without incident. Whew.
That said, it will pass close enough to earth next year (closest point on April 21, 2024) to be visable by the naked eye. I’m sure by then we will be hearing a bit more about it and at least I will be doing my best to look up when the night sky is clear. Mark your calendar.
More about cryovolcanic comets
Cryovolcanism, a fascinating geological phenomenon, refers to the eruption of volatiles such as water, methane, or ammonia instead of molten rock. When this occurs on comets, such as with 12p/Pons-Brooks discussed above, it leads to spectacular space vistas and offers unique insights into these celestial objects.
Cryovolcanic comets, while not as commonly discussed as their traditional counterparts, play a pivotal role in our ongoing exploration and understanding of the solar system’s outer realms.
Those who are elected (or strong-armed their way to power) are failing miserably at keeping peace in our world as we teeter on the edge of yet another war. No matter how advance we think we are, human beings are unable to get along with each other.
Stock Market Indices market close 10/18/2023
Stock market investors, after a week of holding up relatively well after the war between Israel and Hamas began after the terrorist attack on citizens living in Israel, have finally felt the impact as all indices moved down on Wednesday. The IDF has warned of their plan to go into the Gaza City, but as been holding off due to a variety of assumed reasons: military preparation, hostage negotiations (?), weather, a visit from President Biden and an errant rocket from within Gaza that hit a Palestinian hospital. Personally, it has surprised me that we didn’t have a sell-off on Monday?
