I spend mountains of money on my family members, but I am reluctant to spend anything on myself. Part of it is outright cheapness, and part of it is the deep belief that I’ve got everything I need pretty much for the rest of my life.
The wallet I carry is a good example of this. I don’t know how many years I’ve owned it, but it’s perfect for me, even though it’s falling apart. Whenever I would present a credit card, it would be partly covered with black flecks, because little bits and pieces of my wallet would come off each time.
A Sloper was kind enough to send me the following idea this morning, which I wanted to share:
Walmart is benefitting from 2 major events:
1. The recent significant drop in gasoline prices (50+%) helps the low income segment of the population the most since they spend most of their income on the basics. Less fuel expenses leaves more for other things. Some of this goes to Walmart.
2. The strong dollar lowers the costs to importers and reduces the income of exporters. Walmart is a big importer.
Maker and seller of all-things-leather Coach is doing something interesting with its chart: looking close, you can see it has been trapped in a rather narrow range between about $33 and $37 for many months…..
I’ve always had a fondness for shorting Abercrombie & Fitch. They just strike me as a purveyor of overpriced, overly-hippified, totally ghey clothes to brainwashed young people. Don’t shoot. Let ’em burn.
Perhaps the insatiable U.S. consumer is actually started to get sated after all.