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| Members present: Bickford, Danak |
We took a few weeks off, and that seemed to suit the market just fine. There was a blip when we were gone, and now things are back in the terlet.
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| ATT: Trucking along. |
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| EWZ: Even thought Brazil surpassed the UK as the world's sixth largest economy, things are looking down still. I wonder if the proximity to various Latin American dictatorships has some negative bearing on their economic prospects. |
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| SPY: About the same. Down a bit, but outlook good. |
Yousef's father-in-law deals in used cars, and he recently mentioned that the prices of used cars at auction has been inflated. Inventory is down everywhere, as people buy more used cars (as opposed to new). Larger dealerships are also being more permissive about what they will allow onto their used car lots. This lower supply and greater demand, brings up prices in a very classic, lemonade-stand sort of way.
Also, it is interesting to note that the last time used car sales spiked was around the time of $4/gal gas. People want to trade down their larger cars for something better on gas. However, I'd bet they still accelerate like it's going out of style.
*Next week: The return of Brian from Japan, discussion topics? Profit?
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