Jeffrey D. Saut, Chief Investment Strategist,
So Andrew and I have been haunting my old stomping grounds here in the Washington, Baltimore, and Annapolis area while attending Raymond James’ national conference (The Summer Development Conference; SDC). We spent some time on Capitol Hill renewing long-term relationships and happened to run into our friend, and master economist for RSM (formerly McGladrey), Joe Brusuelas. I hate to admit this because I am pretty connected in this town, but Joe is better connected than me. Subsequently, I invited him to a dinner Tuesday night and he WOWWED about 20 of our financial advisors about what is going on inside the beltway, which is a mess! His comments reminded me of a quip from my deceased friend Ray DeVoe about one of the longest running plays in this town. To wit:
“There was one play that did have a lengthy run in Washington. J.M. Barrie's Peter Pan, starring Sandy Duncan as ‘The Boy Who Never Grew Up,’ which had the longest run at the time of any play produced in the nation’s capitol. In an interview, Ms. Duncan was asked why the play had lasted as long as it did. Her answer was, ‘I think it's because people in this town easily relate to fantasy.’”
And guess what, after having lived here for years in a past life, the current situation in D.C. does manifestly feel like “fantasy land!” And, that was the same feeling I got when I returned from some portfolio manager meetings yesterday and turned on the TV only to see m12 channels showing the O.J. Simpson parole hearings. I mean really, in a world overflowing with important news does anybody really care about an O.J. Simpson parole hearing, or as DJT calls it “fake news,” but I digress.
Returning to what the sagacious Joe Monaco writes “Rule #1; never mix your politics with your investment strategy!”
. . . Joe Monaco, Ph.D., captain of Norfolk, Virginia-Based Monaco Capital Management