Thoughts {02.17.16-Austin Addition}

{Looking north at downtown Austin from the shores of Ladybird Johnson Lake.}

Will be back with some more detailed "pensamientos" or thoughts on what's transpired since I lit out for Texas over the President's Day holiday. in the coming days  We left snow and cold Chicago for a part business part vacation trip down to Austin, Texas over the past few days.  Here's a few of my observations about that city:

Of course the market ripped higher while I was gone.  Hard to tell if this is a bottom forming event or a classic rip your face of bear market rally.  In either case I prefer to let asset prices come to me.  We got close to that point last week and there are a few things {mostly dividend paying ETFs} that may still be interesting if we don't move much from here.  My judgement though is that it's better right now to wait for the right price.  I think we'll get that opportunity.  If we don't then I'm content to ride a rally higher with our current allocations.

Texas is different.  For one thing it was once it's own country.  Everything is bigger there including the food.  I think I put on three pounds and that's with walking nearly 25 miles during our visit.  Austin is also full of young people.  There is a huge technology industry presence there and it is attracting young technology minded professionals.  It is growing at something like 150 people a day according to our Uber driver.  That it's growing is evident in its infrastructure.  The highways are overloaded and a mess.  There's also a building boom in the downtown.  A lot of Californians have moved Austin to escape the taxes out west.

I've long said that I believe my children will live in a country where there's been a fusion of Canada, parts of the Caribbean, the US and Mexico.  The fusion with Mexico is evident in Austin.  Spanish is ubiquitous {of course it is also now in Chicago}.  The food is Tex-Mex.  Lots of upscale Tequila and not much wine.  Parts of the Hispanic community is deep rooted in the land the farther south you travel in Texas.  Parts of that community have been there a long time.  There's also a heavily German influence in central Texas due to immigration from central Europe in the mid-1800's.  First time I've ever had BBQ with sausage.  They may not know what a bratwurst is in other parts of the South, but they've had it and made it and eat it in Texas.

Vegetables in Texas are for the most part beans in all varieties on Tex-Mex and salsa.  The food was fantastic, but a lot of it.   If you go to Austin you have to go to the "Broken Spoke".  Don't ask.  Just go.  You'll have a blast.  

Back tomorrow.