You really need
to take predictions with a grain of salt. Consider these esteemed opinions:
- "I
think there is a world market for maybe five computers." Thomas
Watson, Chairman, IBM, 1943
- "Who wants
to hear actors talk?" H. M. Warner, Founder, Warner Brothers, 1927
- "Everything that can be invented has been invented." Charles Duell, Commissioner, U.S. Office of Patents, 1899
Barron’s recently pointed out how well U.S. stock
markets have performed this year: “Not since 1995, when stocks climbed 34
percent without as much as a 3 percent dip, have we enjoyed a year as agreeable
as this. No pain, all gain has turned U.S. stocks into a consensus favorite,
the People's Choice award winner, the king of the hill. But, it's no longer the
road less traveled.”
The publication tweaked
market optimists by pointing out economists’ consensus opinion the U.S. economy
will grow by 2.6 percent – admittedly a pretty modest pace for growth – may not
seem like a stretch, but it could be. The point was 2014 is almost certain to
bring some jarring economic transitions like less monetary support through
quantitative easing. Reduced liquidity could negatively affect economic growth
(Gross Domestic Product growth in 2013 is projected to be just 1.7 percent).
In a separate
article, Barron’s shared insights from
10 strategists – Wall Street professionals who acknowledged 2014 may offer
investors a bumpy road. However, their consensus expectation is the Standard
& Poor’s 500 will finish 2014 higher. “…Their mean prediction is 1977. The
bullish consensus might trouble contrarians, but Wall Street's pros see ample
reason for optimism, given their expectations of a stronger economy and rising
corporate profits.”
As you read
conflicting opinions about where we’ve been and where we’re going, it’s
critical to remember short-term macroeconomic and market predictions should not
be given too much weight. You built your investment strategy to meet your
long-term investment goals.
is that a
drone? flying through my neighborhood? There may be a new entry on the list of
military inventions that have been repurposed for commercial use: Unmanned Aerial
Vehicles (a.k.a. UAVs or drones) may soon join global positioning systems (GPS),
duct tape, EpiPens, cargo pants, microwaves, and a wealth of other goods
Americans rely on in everyday domestic life.
Drones are
remote-controlled flying robots. They may be as small as insects or as large as
jumbo jets. Today, they’re most known for delivering stealth attacks on
selected targets and military service which has included stints on domestic
border surveillance and overseas reconnaissance. In the future, they may be
thought of as handy tools that help manage a variety of tasks. While no one can
be sure which opportunities will pan out and which won’t, there are a lot of
potential applications including:
·
Information
gathering.
Journalism students at the University of Missouri in
Columbia are learning to fly drones! They’re gathering pictures, videos, and other
news-worthy information. Yes, there are some privacy issues. Already, 42 states
are considering bills restricting drone use.
·
Improving agriculture. Students at
Oklahoma State University are researching the roles drones could play in increasing
yields and monitoring crops for blight and diseases.
·
Disaster relief. The Harvard-MIT
Division of Health Sciences and Technology received a grant to develop drones
to deliver vaccines and medicines to remote locations and disaster areas.
·
Wildlife research. The U.S.
Geological Survey has been using a camera-equipped drone to complete aerial
counts of sandhill cranes, and scientists in Indonesia are using drones to
study endangered Sumatran orangutans from above the treetops.
·
Shipping goods. American
internet retailers are experimenting with using drones to ship goods from
fulfilment centers directly to customer’s doors. It may be 2015 before you
receive a drone delivery because the Federal Aviation Administration still
needs to issue some rules governing drone operations.
So, if you’ve
been asking yourself, “What’s the next big thing?,” you might want to read up
on drones. They could be it.
Weekly Focus – Think
About It
“Peace is not absence of conflict, it is the ability to handle conflict by peaceful means.”
--Ronald Reagan, 40th American
President
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