‘Twas The Week Before The New Year
December 27, 2022
‘Tis the week before New Year, and all through Wall Street
Everyone hopes that ‘22 won’t repeat.
We started the year staring at all-time highs,
Hoping the market would continue to rise.
But inflation proved more than transitory—
A Bear Market became the leading story.
The words of Jay Powell had significant weight,
Looking to see if Fed rate hikes would abate.
To add to the angst, a war started in Ukraine,
Inflating our food costs due to shipping less grain.
—We stand with those who lost friends and family,
Let us hope the new year ends this tragedy.
The first-quarter statements gave plenty a shock;
Others were focused on Will slapping Chris Rock.
In addition to inflation and war in the mix,
We even heard rumors of ads on Netflix!
In the spring, supply-chain issues made us frown,
As China continued their COVID lockdown.
Workers continued the trend “quiet-quitter;”
Elon Musk struck a deal to acquire Twitter.
The Fed then raised rates the most since ’94,
Causing home-mortgage rates to soar!
Three-quarters point raise, a remarkable pace—
Less remarkable was the whole crypto space.
Crypto prices were cut by halves or two thirds!
Leaving many a HODLer saying, “That’s for the birds.”
Midway through the year, we saw bear markets in spades,
The stock markets posted their worst first half in decades.
In July, there was lots of news and no rest.
By end of the month, the CHIPS Act passed Congress,
Boris J. resigned as PM of the UK,
And The J. Webb Telescope brought pics of galaxies far away.
We heard news that student loan forgiveness was near,
But courts left little for millennials to cheer.
Come September, though it was of little surprise,
The world received news: “Queen Elizabeth Dies.”
Autumn brought a fair amount of global unrest:
In Iran, a woman’s death led to large protests.
Ian flooded Florida, adding to misery,
Truss had the shortest stint in British history.
Midterm elections came and went with a yawn,
A bombshell in crypto—FTX is all gone.
Netanyahu shows a decisive victory,
No longer the House Speaker is Ms. Pelosi.
Bob Iger is back at the controls for Disney,
After 10 months in Russia, Britt Griner is free.
Yes, markets are down, and the news is dreary,
But the holidays are here; it’s time to be cheery!
How do we hope with all that’s gone on?
Remember—it’s always darkest before dawn.
With stocks and bonds down as we move toward ‘23,
Buffett would say, “What an opportunity!”
We’re thankful for you, no matter how this year ends,
And we hope you find joy with family and friends.
With good planning and patience, it’ll turn out alright.
So HAPPY NEW YEAR to all, and to all a GOODNIGHT!