Broker Check

$27 Dollars

Everybody has had that unexpected joy of putting on a pair of jeans or shorts you haven’t worn for six months and finding a crinkled $20 dollar bill with maybe a $5 and a few singles in the pocket and your first reaction is a clinched fist, Yes!. It is one of those great little moments that puts a little charge in your step that instantly puts you in a good spirit. I had one of those little moments Saturday when Jean and I were visiting friends in Williamstown, Michigan. Williamstown is a small town outside of Lansing with nice character that happens to have a few antique/flee market stores that I have heard about for many years. Our friends drove us to Red Cedar Antiques for a look around. It is basically an old motel frame that has been turned into this flee market store with dozens and dozens of booths on aisles that twist all around the store layout.

The girls went one way and I went another with one purpose in my mind to find the booths that had vinyl records. Well, I found three rooms with crates and crates of old records from the ‘60s and ‘70s. Just my vintage and I was in heaven. I could have stayed for hours but quickly picked through a few crates not knowing what I would find. Before long I came across a Gordon Lightfoot album titled Sit Down Young Stanger and quickly inspected it. This 1970 beauty had the first recording of his hit song If You Could Read My Mind before the album was renamed for the hit song that reached number 1 in Canada and number 5 on the Billboard Hot 100 that year. It also has one of the first recordings of the Kris Kristofferson’s hit “Me and Bobby McGee”. I bought this little gem for grand total of $8.

When I got home and played it I was very surprised with the lack of scratches and clean sound that came out of the speakers. Right at that moment I had that clinched fist moment of Yes! What a find. I quickly texted my friend Eric who is a big Gordo fan and told him the story. He just said you can’t go wrong with Gordo, the original Canadian troubadour. BTW, Gordo still going strong and will be playing in Royal Oak in September at the young age of 80.

Back to reality. If you can stretch it a little investors had a little Yes! Moment with the averages knocking on the door to new all-time highs last week while dodging concerning headlines about Iran, China, and boarder security. It was a pleasant surprise because the only thing investors could count on was the clear commentary from the Fed chairman that the committee was prepared to lower rates when necessary. Most economists and commentators took that to mean next month so stock prices rose on the back of the Fed’s backstop to an uncertain global economic picture. Concerns still remain but investors remain resilient to withstand the swirling headlines and stay focused on stocks trending higher. Let’s see if we can finish off the month and second quarter with record levels. That would certainly be one of those Yes! Moments.

Have a great week,

Roger N. Steed

June 24, 2019

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