Category Archives: Current

December 1, 2020

By David Snowball

Dear friends,

The waiting is, mostly, done. The American people have spoken, though I suspect that activists in both major political parties are disappointed and frustrated by what they heard. For better and worse, Republicans did not receive a second term in the White House. For better and worse, Democrats did not enjoy “the blue wave” that they anticipated.

And so we are left where we so often are: in a muddle. The control of the senate, once “the world’s greatest deliberative body” (reputedly President James Buchanan’s judgment), lies in two impending elections in Georgia. Politicians of all stripes woke on the morning of November 4th to ask the all-important question, “how’s our fund-raising for 2022 coming? Are we on track?” At least one candidate is openly mulling the timing of his announcement of his 2024 presidential bid. Miscellaneous state legislators continue to Continue reading →

November 1, 2020

By David Snowball

And now we wait.

I’m writing this less than 48 hours before the end of the most divisive and likely most consequential presidential election in a hundred or a hundred and fifty years. (It depends on your view of the sea change enacted in 1932 or the tumult of 1860.) I am exceptionally distracted by the unfolding events.

In general, I have faith that things will work out okay. People are, on the whole, sensible when not terrified. And, while many of our fellow citizens are terrified – in part because conditions in many parts of the country are unremittingly hard and, in part, because political parties have learned that it’s in their best interests to enflame our worst fears – we have an okay track record of tempering our fears with Continue reading →

October 1, 2020

By David Snowball

Dear friends,

Welcome to autumn. It’s a season of such russet-gold glory that even Albert Camus (remember him from The Stranger and The Plague?) was forced to surrender: “Autumn is a second spring when every leaf is a flower.” It’s the time of apples and cinnamon, of drives through the Wisconsin countryside, and of gardens turning slowly to their rest.

Well, short drives through the Wisconsin countryside, anyway. Rather than the leisurely two-day circuit of western Wisconsin’s creameries, breweries (a nod to New Glarus), and orchards, I’ll mask-up and dart north to Gays Mills where I’ll try not to surrender entirely to the call of the orchards. You’d be amazed at the variety of flavors found in apples; there are about 200 varieties grown in the US, with the average grocery store stocking just a half dozen (including that flavorless favorite, Red Delicious). October is the month for Haralson and Continue reading →

September 1, 2020

By David Snowball

Dear friends,

Another school year has begun, likely the most fascinating in my 35 years as a college professor. My students were in class this morning, cheerful and masked. When asked about their summers, they did not say what the rest of us might: “it sucked.” To the contrary, they were uniformly positive about the experience (“I had a good summer! We didn’t get to travel anywhere, but I put in a lot of hours on my job and spent a bunch of time with my family!”) and hopeful for the year ahead.

The number of students was, quite understandably, reduced: Augustana welcomed something like 550 first-years when we’d normally see 700, with a lot of the deficit coming from international students – well more than a tenth of the college – not able (or willing) to travel Continue reading →

August 1, 2020

By David Snowball

Welcome to our annual summer-lite edition of Mutual Fund Observer.

It’s the summer in which things might be … hmmm, a little lighter than usual. It’s normally a time when we quiet down for a month while you folks are off doing sensible and wonderful things, like hanging out at the beach with friends and family. Except, now, well … Continue reading →

July 1, 2020

By David Snowball

Dear friends,

Welcome to the summer of our discontent.

I admit to being a bit distracted this month. My son, Will, was exposed last week to an individual who subsequently tested posted for the coronavirus. Neither she nor he was… uh, optimally cautious during their interaction and she’s subsequently fallen ill. We promptly sought a test from the State of Iowa’s preferred provider, only to learn that they couldn’t see him for four days and weren’t sure how quickly they’d have results. We turned, instead, to our local hospital which administered the test immediately, promising the results “in two to three days.” Four days later, we’ve been told that actually means Continue reading →

June 1, 2020

By David Snowball

Dear friends,

Welcome to summer.

All of us hope that it’s not going to be a long, hot one.

Some months it’s easy to write a welcome note, some months not. This is one of those latter times. Over the night just passed there were ongoing instances of “civil unrest” (the police chief’s term) with a caravan of 100 cars proceeding from one shopping plaza to the next. Four people – including a police officer simply driving his car – were shot; two, not including the officer, died. Many of the caravanning cars bore Minnesota plates. That followed a Continue reading →

May 3, 2020

By David Snowball

It’s May.

Welcome to the Mutual Fund Observer’s ninth anniversary edition. When we first launched in 2011, Chip cautiously observed that the average independent website had a six-week lifespan and a median visitor of … one.

We appear to have beaten the averages by 462 weeks and 1,812,027 readers.

Our decade of readership looks remarkably like the rhythm Continue reading →

April 1, 2020

By David Snowball

Dear friends,

When I say, “I hope you’re well,” it’s far more than an opening formality.

Did you blink?

If so, you missed it. The Great Bull Market of 2020. In perhaps the shortest-lived bull market in history, the DJIA rebounded by over 21.4% in three days after The (First) Bear Market of 2020. The latter growled from 19 February – 23 March, while the latter charged from 23 – 26 March after which we had a sharp down, a sharp up, a wimpy down and Continue reading →