Thoughts {05.15.18}

Moving an office {as well as your home} is a much more complicated process than I ever imagined.  That being said I am starting to see light at the end of the tunnel in regards to the move.  There are still a few kinks to work out.  A major issue is the phones.  Not sure if the move from AT&T to Comcast regarding a business number is going to work out but we'll continue to give it a shot.  I will say one thing about Comcast customer service.  It is spotty.  That being said, "spotty" is a huge improvement over what you used to experience when trying to take care of even the most basic problems over the phone so there's hope.  The guys that do installation for them should all be placed in management someday.  They are top notch.

Doing a move means I've spent more time in stores and shopping malls these past few weeks than I usually do.  When you move, especially if you're downsizing, you find that you need a bit of everything.  I've been able to spend some time observing the American consumer's habits and these are my observations:

-Those betting that the mall is dead might need to revise that thesis.  All the ones I've been to are packed.  Oak Brook Mall on Sunday looked like the weekend before Christmas.  My guess is that the marginal malls are already gone or going and the ones that remain will probably do alright.  

-People aren't willing to buy everything on Amazon.  Sometimes you need things right away.  Also I still think many people, especially those older, are reluctant to buy clothes or shoes on line.  They still want to try things on and the return policy can be a hassle.  Also there's no way Mrs. E and myself are going to buy furniture on line, at lest not the big ticket items.

-Finally, for many, I think the mall is still pure entertainment.  I saw folks out at Oak Brook that seemed happy to just be outside walking about on a sunny day.  Purchases seemed a second thought to them but I'll bet most walked out of that mall with at least one bag or two.

-The demise of Apple or at least the "Peak Apple" theory needs to also be reviewed.  The Apple store in Oak Brook was packed as it always is.

On a different note after roughly a two week period where stocks shot straight up, we're seeing a pullback of about a percent in the early going today.  Markets are very overbought after this move so that shouldn't be surprising to anybody.

Back Thursday.  

*Comcast and Apple are components of various ETFs we own for both clients and in personal accounts.