Barron's Weekly -- June 25, 2023

Locator: 45049INV.

From the hard / print copy Barron's this week, cover date, June 25, 2023.

These are my takeaways. Links may or may not be provided.

Comments, facts, factoids, data points. May be hard to tell what is and what isn't.

Again, these are my takeaways based on headlines and ledes from Barron's as well as background "research" in some cases.

Disclaimer: this is not an investment site.  Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here.

All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them. 

Again, all my posts are done quickly. There will be typographical and content errors in all my posts. If any of my posts are important to you, go to the source. 

Recession: 

• there won't be one this year (2023) and if there is, it officially won't be "called" / officially identified as such until several months / even years later.
• stay-flation will become a "thing." Definition:
• "inflation" headlines / definition: anything more than what the Fed wants;
  
• unemployment manageable; if push come to shove, ignored;
  
• economy: slow growth, but no contraction in previous six months.
  

Inflation: 4% is the new 2%

• JPow will fight it to the end of his tenure
• the new Fed chairman will "get it"

Dividend watch:

• 3M will cut its dividend in half over the next twelve months; shares will react accordingly.
• lawsuits and settlements are just beginning
  

60/40 asset mix:

• that strategy is broken, but most of us have known that for years.

Offshore drillers:

• hope springs eternal
• can do much better in so many other sectors

Rail:

• 30-year holding.
• no need for FOMO.
  

Bud:

• Constellation Brands reports 1Q23 earnings 6/30. 
• reporting period won't include the BUD debacle.

Inflation:

• the Fed's favored inflation gauge, the core peersonal-consumption expenditures price index is expected to increase 4.7% y/y, unchanged from April. Government reports, 6/30.

Home sales:

• for May, government reports 6/27
• forecast, seasonally adjusted, annual rate, single homes:
• 659,000
• 24,000 less than April, 2023
• median sales prices was $420,800 in April
• record high: nearly $500,000 from last October (2022)

GDP:

• final reading, 1Q23:
• forecast: 1.4%
• up from 1.3%, second reading, late May

Barron's top CEOs of 2023, in order (interesting to note who is not on the list):

• Greg Brown, Motorola Solutions
• Warren Buffett, BRK
• Safra Catz, Oracle
• Tim Cook, Apple
• H. Lawrence Culp Jr, GE
• Jamie Dimon, JPMorgan Chase
• Marvin Ellison, Lowe's
• James Gorman, Morgan Stanley
• Tricia Griffith, Progressive
• Gene Hall, Gartner
• Frank B Holding Jr, First Citizens BancShares
• Vicki Hollub, OXY
• Jensen Huang, Nvidia; since 1993
• W Craig Jelinek, Costco
• Ramon Laguarta, Pepsi
• Kent Masters, Albemarle
• John C. May, Deere
• Satya Madella, Microsoft
• Shantanu Narayen, Adobe
• Brian Niccol, Chipotle
• Sundar Pichai, Alphabet
• Dave Powers, Deckers
• Dave Rick, Eli Lilly
• Carol Tomė, UPS
  

Not on the list:

• Richest man in the world
• Mark Zuckerberg
• Joe Biden
• Except for OXY, no oil
• Except for Eli Lilly, no Big Pharma
• Walmart, Target, McDonald’s
• No airlines

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The Book Page

Books this week.

• Crusoe: Daniel Defoe, Robert Knox, and the Creation of a Myth, Katherine Frank, c. 2012; 823 FRA. Notes.
• Manderley Forever, A Biography of Daphne du Maurier, Tatiana de Rosnay, c. 2015. 823 ROS. Notes.
• JRR Tolkien: A Literary Reference to His Life and Work, Jay Ruud, c. 2011. 823 RUU. Notes.