The Lowry Letter®

Week of 12/1/2023

We hope that you had a Happy Thanksgiving! Time with family is a great reminder of what we value most, and we hope it was a nice experience for you.

Warren Buffet’s right-hand man Charlie Munger passed away at the age of 99. Here is an excellent compilation of his wit and wisdom.

Fentanyl accounts for the vast majority of opioid overdose deaths. This research shows that most of it is smuggled in legitimate commercial shipments, making traditional drug war measures less effective.

We saw The Marvels. It was fine. Enjoyable, but more of the Marvel same. The best part may have been the after-credit scene.

This Kiwi (New Zealand) family visited a Walmart for the first time. It’s pretty amusing and highlights the astounding variety of food and other goods available to the average American.

This is a lengthy, but helpful, explanation of Language Learning Models (LLM’s) like ChatGPT.

Q: Will the Federal Reserve cut rates soon?

A: If soon means in the next 6-9 months, probably not. This is because economic growth remains strong the current interest rates are not yet a problem (though housing sales have slowed). Employment remains strong. While inflation has improved, it’s too early to declare victory.

This is good for savers, as attractive yields on savings accounts and money markets will persist for a while.

Of course, if economic conditions worsen, cutting rates remains the Fed’s tool for stimulating the economy.

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