Postcards from King “Hat” III

There is a time and place for lectures on the economy and climate change. But there is also a distinct outfit that men and women should NOT wear whilst delivering their royal decrees.

Market Recap

A tough day in the energy sector weighed across the markets after such a strong past few months. Tech stocks pushed higher in a nice rebound as investors crowded back into the FANGs. No one seems to care about Apple’s falling revenue numbers. That said - such crowding can be rather dangerous.

Dear Fellow Expat:

Comedian Paul F. Tompkins has a great story about why he quit one of his first retail jobs in Philadelphia, Pennsylvania.

He worked as a sales associate at a store called Hats in the Belfry!

Part of his humiliating job was to use a long metal stick and fetch hats for customers – who would try on these various hats – only to leave behind a mess for him to clean.

Up in the rafters of the store were a variety of different “exotic” hats that well-liquored patrons liked to try on.

There was an Abraham Lincoln stovetop hat. “Whoa!”

A Viking helmet. “How zany!”

But the one that set Tompkins mad… was a very specific type of headwear… with a very specific name.

Yet… on more than on…