So what do you have to be thankful for?
I thought about this question and a lot of things stand out:
First, I’m thankful that the election is over. As a proud resident of a “battleground” state, my land-line phone rang nonstop during this election season. I’m thankful that our family can eat a meal in peace.
I’m thankful that New Hampshire has no major-league sports teams: so we don’t have team-owners threatening to move their franchise if we don’t build them a new stadium. Miami Marlins fans just had to watch owner Jeffrey Loria trade away proven players for unknown prospects after they built a $515 million stadium in 2008, complete with 37,000 seats and a retractable roof. Taxpayers are on the hook for this white elephant, even though the team finished 12 games below .500 last year.
I’m thankful that Apple and Samsung both have killer smart-phones. Competition is what makes things better for consumers. Competition means I can buy jeans for less than $10 and a snack-wrap for $1.40. Competition means computers just get smaller, lighter, and cheaper. Are you listening, guys? It’s your innovation, not your lawsuits, that’s changing the world.
I’m thankful that amidst cheaper energy, a stronger housing market, and low inflation and interest rates, the economy is growing. A growing economy provides opportunities for young and old alike, to better themselves, to be what they want to be, and to earn a living while doing it.
Most of all I’m thankful that the turkey’s in the oven, my kids are coming home, and the holidays are giving me a few days to reflect on what’s really important.
Happy Thanksgiving, from Charter Trust.
Douglas R. Tengdin, CFA
Chief Investment Officer
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