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Weekly Market Report – July 14, 2023
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Restaurant & Retail Updates
Copps Pizza plans to open its fourth location in Overland Park, Kan. in late July. The restaurant’s owner moved to Omaha from Kansas City a few years ago specifically to open Copps, so this will be a homecoming of sorts. Copps has current locations near 72nd & Jones Street, 180th & West Center Road and in Papillion’s Shadow Lake Town Center.
Mootz Pizza is getting very close to opening at Countryside Village. The food truck is turning into a bricks-and-mortar restaurant at 8725 Shamrock Road. According to the restaurant’s social media post, they’re just waiting on a city permit before opening.
On the Border opened its first Nebraska location this past Wednesday in a 6,800 sq. ft. former Pizza Ranch building northeast of 72nd & Centennial Road in Papillion. The Dallas-based Tex-Mex chain has 130 locations in the United States and Asia.
The Sarpy County Chamber of Commerce will hold a ribbon cutting July 25th for Chirpy’s Play Café at 2063 Creekside Drive in Papillion (96th & Schram Road). Chirpy’s is a “unique pairing of a coffee shop and indoor play space for kids. The business provides a safe place for kids to play while parents enjoy a coffee shop experience.
Because there have been a few changes lately, the Inner Rail Food Hall at Aksarben Village recently posted an updated list of all its restaurants: Solful – Argentine style empanadas; Zaytuna – Mediterranean food; Kathmandu Momo Station – Nepalese street cuisine and Burmese ramen; Smash City – burgers and chicken sandwiches; Sofra Creperie – crepes; Gravy Train – brunch and coffee; Pop’s – pizza and salads; Nori – sushi rolls, rice bowls and salads: Reagan’s Lobster Roll Shop – Maine and Connecticut lobster rolls and Backstretch bar.
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The “Restaurant & Retail Updates” section is sponsored by Anderson Convenience Market, featuring Quality AMOCO Fuels and serving Omaha since 1952, and proud to announce the return of Quality Amoco Fuels. Look for changes this Summer at Anderson Convenience Market – 8 Omaha area locations!
Learn more about Anderson Convenience market at www.Anderson1952.com
Grow Omaha Eats with
Sarah Baker Hansen
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Review: At west Omaha’s W.D. Cravings, homemade pasta is king
I’ve had W.D. Cravings on my radar for some time now, and I’ve kept an eye on the small pasta shop in Northwest Omaha where co-owners Piero Cotrina and Wendy Delgado make homemade pasta, Italian specialties, breakfast sandwiches and coffee. Somehow I’d only made it out once, during the pandemic, when the drive-thru was the only option and we ate our breakfast sitting on a blanket in a nearby park.
Fast forward to 2023. Not only is W.D. still kicking, it’s become known locally for something I simply had to try: that aforementioned homemade pasta cooked until hot and then swirled around inside a giant round of aged Parmesan cheese, creating what I imagined must be a melty, umami-laden, salty cheesy masterpiece.
I was right.
I’d drive the 25 minutes from my house to the restaurant again just for that cheese wheel pasta. But it turns out that the restaurant also does killer versions of both pesto and bolognese, a good chicken parmesan and even some tasty, Asian-inspired rice bowls during the lunch hour.
I got my bowl of cheese wheel pasta topped with two of the house-made meatballs,which each got a light dunk in tomato sauce and a sprinkle of Parmesan and fresh parsley before being placed atop the cheesy pile.
The dish is like an adult mac and cheese, with a rich creaminess and a lovely al dente texture. The meatballs, flavorful and nicely seasoned on their own, brought some brightness to the dish, and though I probably didn’t need any more butter, pillowy sticks of toasted, buttery bread on the side are a nice touch.
Cotrina told me later that he’s had the idea for the cheese wheel pasta for years, after he first saw it on a YouTube video featuring a similar pasta served by a London-based street food vendor.
“I told myself that one day, when I have my own restaurant, we will do something similar,” he said. “And here we are.”
Cotrina said W.D. Cravings is the only restaurant in Omaha and likely the only in Nebraska serving pasta in this way. It’s worth a trip, I guarantee it.
Summery and bright, the pesto pasta served over a pleasant campanella pasta is a nice side dish next to the absolutely enormous chicken Parmesan cutlet. (In fact, portion sizes across the board are nothing to sneeze at.) The chicken in the cutlet gets pounded thin, breaded and then fried to a crispy dark brown. It’s nicely seasoned and not too dry with a tender bite under a layer of melted cheese and chunky tomato sauce.
W.D. Cravings has both a drive-thru and a fast-casual style dining room where diners order at a counter and pick up their own food. There’s no table service and no liquor license, though they do serve a wide variety of coffee and tea drinks.
Cotrina said after Covid, the restaurant saw all the challenges: higher food prices and labor costs and challenges finding reliable staff. A Starbucks coffee shop also moved into the complex where the restaurant is located, off the Irvington exit on Interstate 680.
“We had to get creative to bring more customers in here, and we had to do it better than other places to keep them coming back,” he said.
That explains their process for making pasta. They use 00 flour and put it through a pasta extruder, which Cotrina said they bought because of the volume of pasta the restaurant sells. Sometimes, depending on the dish, the kitchen rolls pasta by hand to get a specific texture. The double zero flour, he said, gives the pasta a “crunch” texture versus semolina flour.
“Our guests truly love the texture of the pasta,” he said.
I saw it in all three of the dishes we tried, but maybe most clearly in the house bolognese, which I got another day during a lunchtime visit through the busy drive-thru. The thin bolognese studded with bits of beef clung just so to the serving of Mafalda pasta, and the bits of meat got caught in its ruffled edges in a delightful way. It was lunch, I was by myself and I had another dish to try; I can assure you, it was tough to quit eating.
The lunch menu includes several rice-based bowls, including one with brisket and two with fried chicken. I got the chicken tinga, which had a nice temperature variation going on, with hot white rice; a cool, crunchy cabbage salad, a fried egg clearly cooked to order and slices of super crispy katsu-style breaded white meat chicken. It’s obvious these dishes are made fresh to order, and a sign in the drive thru even points out that you may have to wait five to ten minutes for your food to be ready. It’s worth the wait.
Cotrina said he and co-owner Delgado always have new ideas for the restaurant, including one that will take that cheese wheel pasta on the road for an upcoming series of pop-ups in downtown Omaha; keep an eye on their social media pages for details and dates.
W.D. Cravings is in an area of Omaha that doesn’t have a big presence of locally owned, make it all to order restaurants, and if you live in the area, you’d be well served to check it out. And even if you don’t, well. We all probably need a little more giant cheese wheel pasta in our lives, right?
M-F: 10a – 2p & 5p – 8p
Sat & Sun: 8a – 2p
The Big Story
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Omaha Is Ready for a Public Market
The Reading Terminal Market opened in 1893 in Philadelphia, and to this day, it continues to have a major impact on that city’s downtown area. Residents and visitors alike swarm the public market each day, looking for hand-made craft items, flowers, groceries, and most commonly, prepared food and beverage offerings.
When you enter the Reading Market, you first walk through an urban grocery store segment, featuring fresh produce, meats and upscale grocery items. Once you pass through that area, there are several aisles, each filled with booths (small retail spaces) containing privately owned businesses. It’s kind of like an indoor version of Omaha’s farmer’s markets that happens to be open year-round, every day.
Most of the booth occupants are food and drink purveyors. Many of them offer restaurant food to be consumed on site. Others sell packaged food items. When Grow Omaha visited the Reading Terminal Market earlier this summer, we tried one of the coffee shop booths, ate an unforgettable corned beef sandwiche at an historic deli and even sat down for breakfast at one of the larger booths – a full-service restaurant owned and operated by a local Amish community.
Put simply, the Reading Terminal Market makes Philadelphia a more interesting place. But the City of Brotherly Love is not the only metropolis to boast a vibrant public market. Within the past year, Grow Omaha has visited very impressive public markets in downtown Milwaukee and in Kansas City’s River Market district.
All these positive experiences at public markets has convinced us that Omaha would benefit from being part of the game. We believe a public market could thrive in Omaha especially in the urban core – midtown or downtown.
There may or may not be an official definition of “public market,” but according to Tiffani Emig, manager of Boston’s public market, these venues “can take various forms, and each is a unique reflection of the city where it’s located.” Emig says there are four things that make public markets different than a local farmers market or a standard supermarket:
1. A public market primarily sells food. Different public markets focus on different types of products, but typically, a shopper can find produce, meat, fish, dairy products, baked goods, coffee, spices, and various specialty and prepared foods. Some markets also sell flowers, beverages, crafts or other related non-food items.
2. A public market is open year-round. Unlike farmers markets, which often exist only seasonally and may pop up just once or twice a week, a public market is open daily, year-round, in a permanent location.
3. A public market is made up of small independent businesses, and each shop or stall is owner-operated. Rather than one company selling every item, like you would find in a supermarket, a public market features dozens of vendors selling food and other products they made themselves.
4. A public market fulfills a public purpose beyond retail food sales. A public market is more than just a place to shop; it provides customers with an experience. A public market is a bustling and vibrant place that brings people together to taste new flavors, learn from educational workshops and classes, watch the process of food being made, or develop new friendships. A public market is a civic resource for everyone.
Let’s say there’s a visionary entrepreneur who wants to start a public market in Omaha…Where would he or she set up shop?
Most markets are in urban areas specifically high-density neighborhoods. In Omaha, that would probably be somewhere near the Old Market, elsewhere in downtown or the Blackstone District. Locating the public market along our future streetcar line might increase its likelihood of success. Many other cities have robust transit options near their public markets.
While there are never any guarantees in business, it feels like Omaha is ready to support a permanent public market as long as the right person/company runs it, and they choose the right location.
Omaha’s philanthropic and civic leaders are investing $400 million in the Riverfront Parks. Private developers are investing billions in new office, retail and residential properties in the urban core. It is clear that urban Omaha is being set up for a development boom. The time might be right for a public market operator to capitalize on that coming growth. Omaha residents, workers and visitors would all enjoy the results.
This section is sponsored by RENZE. For over 128 years, we have been providing our clients with innovative solutions for interior corporate and retail branding, as well as unique exhibits and graphics for tradeshows and events. With leading-edge equipment and quality craftspeople working out of our 90,000 sq. ft. facility, we partner with you to help create your vision. Check out our recent work at Fontenelle Forest HERE!
Grow Omaha Snippets
Grow Omaha Snippets Sponsored by:
The Do Space building at 72nd & Dodge Street is almost completely demolished. Crews removed the 2-story building to make way for the City of Omaha’s future flagship central library.
An Idaho developer plans to convert the former Westmont Inn & Suites at 10909 M Street into a senior living facility, according to a WOWT article this week. The long-vacant eyesore has generated a lot of complaints over the past couple years. The building owner is seeking financing to start the project.
Buildertrend, an Omaha-based residential construction management technology company, has committed to a multi-year sponsorship of the University of Nebraska at Omaha Athletics Department. As part of the new agreement, the club seating hospitality area at Baxter Arena will now be known as the Buildertrend Breakaway Lounge.
The State of Nebraska Department of Transportation has scheduled more than $680 million in road construction projects to launch by June 30th of next year, according to the Omaha World-Herald. The largest project is a 7.6-mile widening of Interstate 80 west of Lincoln. In Omaha, the state will spend $14.2 million rebuilding the 192nd & West Dodge Road interchange to relieve traffic congestion.
The Girl Scouts of Nebraska will occupy a 5,582 sq. ft. space at 8601 West Dodge Road, according Deb Graeve-Morrison and Spencer Morrissey of NAI NP Dodge, who represented the landlord in the lease negotiations.
Nebraska is one of the states where incomes grew the fastest between the first quarters of 2022 and 2023, according to the Wall Street Journal. Here are the top performers: North Dakota (9.7%), New Mexico (9.6%), Nevada (9.1%), Florida (9.1%), Nebraska (8.6%), Hawaii (8%), South Carolina (8%), Alaska (7.9%) and Texas (7.7%).
Omaha currently ranks only 45th as a best city for STEM Jobs, according to WalletHub. STEM professions are expected to grow 10.8 percent between 2021 and 2031, compared to just 4.9 percent for all other occupations.
To overcome a shortage of STEM talent in the region the Omaha STEM Ecosystem will host its Speaker Connect Series: Building Connections event, Tuesday, July 18 at MCL Construction at 14558 Portal Circle from 4:30 to 6:30 p.m. The free, 21-and-older event, “will connect area educators, business leaders and STEM industry partners to create mutually beneficial STEM partnerships that will help align STEM skills to career opportunities for years to come.”
Grow Omaha Snippets are brought to you by Omaha Car Care with four metro area locations – 131st & Dodge, 58th & Center, 85th & L and 144th & Harrison.
Omaha Car Care “We’ll be along for the ride.”
Local Business News Sponsored by FranNet of The Heartland:
Valmont Industries’ board of directors named Avner M. Applbaum, current executive vice president and Chief Financial Officer, as president and Chief Executive Officer, effective immediately. Applbaum succeeds Stephen Kaniewski, who is stepping down to pursue other opportunities. Kaniewski will serve in an advisory capacity as needed.
The company also announced the appointment of Timothy Francis, senior vice president and finance business partner, global operations, and former SVP, corporate controller as Interim Chief Financial Officer.
The North Carolina State Board of Elections voted unanimously to approve a new voting system from Omaha-based Elections Systems & Software for use in North Carolina elections.
Union Pacific Railroad and the International Association of Sheet Metal, Air, Rail and Transportation Workers reached a tentative agreement to provide up to eight paid sick leave days to around 5,900 railroad employees. If ratified by the union, Omaha-based Union Pacific will have paid sick leave agreements in place with all 13 of its labor unions, becoming the second railroad to reach this milestone.
Mutual of Omaha has recognized Marty Higgins of Marlton, N.J., as one of the most successful agents and financial advisors in company history. Mutual recently hosted him at the Omaha headquarters. Higgins joined Mutual 1976 and has an unsurpassed record of success including 42 consecutive Chairman’s Club recognitions. He has $184 million in life insurance in force and $97 million in assets under management.
Green Plains Inc. has announced a technology collaboration with Equilon Enterprises LLC. This collaboration allows for Omaha-based Green Plains Inc. via Fluid Quip Technologies’ precision separation and processing technology to be used with Shell Fiber Conversion Technology. The two technologies will combine fermentation, mechanical separation and processing, and fiber conversion into one platform. The start of the collaboration dates back to early 2021, after Green Plains completed the acquisition of Fluid Quip Technologies.
Valmont Industries, Inc. will host its second quarter 2023 earnings conference call on Thursday, July 27th beginning at 8:00 a.m. CDT.
US inflation has cooled down considerably from last summer’s peak, according to The Hustle. The consumer price index rose 3 percent year over year through June, down from 9 percent around this time in 2022.
Families will spend 10 percent less on back-to-school items, for an average of $597 per child, according to a Deloitte survey. Total back-to-school spending is estimated to be $31.2 billion. Nearly 70 percent of parents will spend the same or less than last year, in large part because of lower disposable income.
This section is sponsored by FranNet of The Heartland, the local, trusted franchise experts. They are “in the business of helping you get into business!”
Grow Omaha Residential
Mid-Year Real Estate Numbers in Omaha
By Joe Finlay
As we approach the middle of the year, it’s a good time to take a look at the first half and talk through the forecast for the remainder of the year.
First half of 2023 numbers
The median sale price of existing homes in Douglas County at the end of June was $295,000, up 7.3 percent compared to 2022. The median sale price of new-construction homes was $499,000, up over 23 percent compared to 2022.
In June, we had only 707 closings of existing homes in Douglas County, down almost 20 percent compared to June 2022. For new construction, there were 89 closings, down a little more than 5 percent compared to June 2022.
In Sarpy County, the median sale price on existing homes was $345,000, up almost 10 percent compared to 2022. And the new construction median sale price was $459,000, up almost 4 percent compared to 2022.
There were 247 closings on existing homes in Sarpy County in June, down more than 21 percent, and 83 closings on new construction, about even compared to June 2022.
According to FreddieMac, the fixed rate for a 30-year conventional loan is 6.96 percent compared to 5.51percent during the same time period last year.
Second half of 2023 forecast
This data shows that on average, prices are up, and the number of sold properties is down. But prices typically peak every year in August. By the time winter comes around, existing home prices could be down 5-10 percent compared to the previous summer.
Similarly, while the sale price peaks in the summer, so does the number of homes sold. Moving into the fall, the number of existing homes available increases, and the peak usually happens in September and October.
With more “normal” pricing gains in 2023 and an aggressive seller’s market, the 2nd half of this year looks to be similar to years past. More homes will be available in September and October, and prices might even out a little bit before next spring. But with so many buyers ready, this doesn’t mean it will be easier to find a house without competing.
If you’re wondering about how the 3rd and 4th quarters could affect the sale of your home, let’s connect and talk through a strategy to maximize your sale potential.
Grow Omaha Residential is developed and sponsored by Joe Finlay, REALTOR with NP Dodge Real Estate.
Grow Omaha University
Leadership & Sales Insights for Ambitious People
Sponsored by Dundee Bank
LEADERSHIP & MANAGEMENT
Are you over-credentialing? That’s the question Dr. Kim Hoogeveen asked in a recent article about hiring talent in today’s business environment. Hoogeveen is founder of Bellevue-based MindSet, LLC. An estimated 50 percent of jobs today are “over-credentialed.” In most cases, that means the jobs require a college degree even though the work doesn’t really justify a college degree. Countless employers are missing out on good talent, Hoogeveen says, because they needlessly cut candidates who didn’t graduate from college.
Here are five factors that make for a great employee experience, according to Tiffani Bova, author of The Experience Mindset: Mutual trust; C-suite accountability; Alignment of employee values and company vision; Recognizing success; and Seamless technology to reduce employees’ day-to-day friction
What are CEOs thinking right now? Fortune, in collaboration with Deloitte, surveyed 143 top executives t major firms and learned the following:
- 43 percent of CEOs say they expect their firm’s growth to be strong over the coming 12 months.
- 38 percent of CEOs have a pessimistic or very pessimistic outlook on the global economy over the next 12 months.
- 79 percent of CEOs expect generative A.I. investments to increase efficiencies. While only 31 percent say it’s likely A.I. investments improve risk management.
- 57 percent of CEOs expect inflation to disrupt their businesses over the next 12 months. The same percentage said the same thing about “geopolitical instability.”
Travel News – International travel this year has snowballed, but the U.S. State Department has been falling far behind processing the 400,000 to 500,000 passport applications they receive each week, says Steve Glenn, chairman of Lincoln-based Executive Travel. Even applicants who have paid for expedited handling are reporting slow processing.
According to human resources firm Challenger, Gray & Christmas Inc., 57 percent of U.S. companies are planning holiday office parties this year, more than double last year’s number.
Executives should be looking to hire “sales killers” rather than “sales collaborators” for true business development roles, says author Mike Weinberg. He believes top sales hunters are highly competitive and not conflict averse.
“If you want more new sales, how about if we hire people who like to hunt and are good at getting new sales, and we actually let them sell and hold them accountable for creating, advancing, and closing business instead of playing glorified customer service reps,” Weinberg said.
Don’t sell on price. You might think selling a low price is easy, but that’s not doing you, your company or the customer any good, say sales author Mark Hunter. When people buy on price, they fail to see your value and they wind up not realizing what your product can do to help them. “Customers you attract with a low price will leave you the second somebody else comes along with a lower price.”
“We must take change by the hand, or rest assuredly, change will take us by the throat.” – Sir Winston Churchill
Founded in 2006 right in the heart of Omaha’s Dundee community, Dundee Bank is all about local ownership, friendly customer service, and supporting the needs of our beloved community. With nearly 100% of your deposits going right back into our neighborhoods, Dundee Bank is committed to fueling growth, enabling loans, and fostering stability for you and your neighbors. So why not open an account at Dundee Bank and discover what it means to truly support local?
Upcoming Events in the Metro
Powered by Vesta
Singles Pub Crawl on 10th Street on July 15th: Get ready for the ultimate Singles Pub Crawl with Smitten Singles! Leave the boring dating sites behind and join others for a night of real connections and genuine fun. With a laid-back vibe and shared appetizers, this event is all about meeting new people and having a great time. Plus, you’ll gain access to the post-event matching software to connect with fellow participants for dating or friendship. Dress casually or in business casual attire and get ready to mingle at the coolest meetup event hosted by Smitten Singles. Don’t miss out on this fun event and reserve your spot!
E-Commerce & Friends Meetup on July 19th: Join others at Elevator for an E-commerce and friends meetup that’s open to everyone! Prepare to immerse yourself in a vibrant atmosphere as you mix, mingle and engage in captivating conversations with industry experts from Omaha. This night will be full of inspiration and knowledge with Kimi Tom, the owner of Market Dwellings. Discover the secrets behind her remarkable journey and learn firsthand how she has achieved growth over the years. Come out for an evening of expansion of knowledge and connections within the community!
July Modus Coworking Lunch and Learn with Giving Realty on July 19th: Lunch-and-learn is back at Modus Coworking! This month features real estate agents Meisha and Leslie from Giving Realty, where they donate 10 percent of their commission to a local non-profit of their clients’ choice. At this lunch-and-learn, you’ll be able to learn about their backgrounds, expertise and mission to give back to the community. Enjoy an afternoon of catered lunch, community and connecting with others in the community!
Understanding Early-Stage Startup Equity with Husch Blackwell on July 20th: Early stage startup founders and new employees often have tons of questions about equity and shares. Casey Kidwell and Gabriel Riekhof from Husch Blackwell specialize in working with tech startups and other businesses. The nationwide law firm has a deep understanding of specific industries, including tech startups. Casey and Gabriel will be discussing and answering questions on a variety of common equity questions like how to approach co-founder equity, option pools for employees, how to structure equity and vesting schedules, and what are standard amounts. Join others if you’re interested in startups and have ever wondered about how to approach equity at a startup.
Night Light on July 20th: Unwind and rekindle your curiosity during Night Lights at Kiewit Luminarium! Happening every Thursday evening through August from 7-10 p.m., you can grab a drink, mingle and play with more than 100 interactive exhibits during an adults-only evening of discovery and fun on the Riverfront. Make sure to check out the hands-on activities in the Maker Space and learn with Luminators. You can purchase your ticket at the door, but reservations are highly encouraged!
This Upcoming Events section is sponsored by Eagle Mortgage Company, is a locally owned and full-service mortgage company in Omaha.
Eagle Mortgage can help you realize your dream of owning a home.
People in the News
Sponsored by Baird Holm Attorneys at Law
The Greater Omaha Chamber of Commerce board of directors has chosen Heath Mello as CEO & president effective August 2nd. He served as a Nebraska state senator for eight years and was chairman of the Legislature’s Appropriations Committee for four years. A Gretna native, Mello received a Bachelor of Arts degree in political science from the University of Nebraska-Lincoln. He will replace Tim Burke, who has been serving as interim CEO & president for the past several months.
The Commercial Real Estate Summit has announced the 2023 inductees to the Commercial Real Estate Hall of Fame: Mike Kivett, partner, Walentine O’Toole, LLP; Donald Linscott, associate broker, Greenleaf Commercial Real Estate in Lincoln; John Waldbaum, vice chairman, Colliers Nebraska; and David Schmidt, associate broker, Concorde Management in Lincoln.
A.J. Skar has been promoted to senior vice president of the advisor network at Mutual of Omaha. He joined Mutual in 1999 and has held several positions in agency sales, most recently vice president and national sales manager. He earned a bachelor’s degree from the University of Nebraska at Omaha.
Travis Schwartz has been appointed to the board of directors of Omaha Bridges Out of Poverty. He is managing partner of the Omaha at Meridian Business.
Lutz, an Omaha-based business solutions firm has promoted Jeff Paesel, CPA to audit director and Katie Roberts, CPA to healthcare director in the company’s Lincoln office.
Nebraska Pro Volleyball has named Diane Mendenhall as president, according to the Omaha World-Herald. She had been working as vice president of strategic giving at the Lincoln Community Foundation and was previously an administrator in the University of Nebraska-Lincoln Athletics Department. Nebraska Pro Volleyball is part of the Pro Volleyball Federation. The league’s first season is expected to launch in 2024 with teams in Omaha; Atlanta; San Diego; Orlando; Grand Rapids, Mich.; and Columbus, Ohio. The Omaha team will play at CHI Health Center.
Wall Street: The Week in Review
with George Morgan
Morgan is the founder of Morgan Investor Education of Omaha.
Sponsored by Baird Holm Attorneys at Law
Views and opinions expressed herein are solely those of the author.
For as long as I can remember, which is about a day and a half, Wall Street has preached to mom-and-pop that as they grow older they need to reduce their exposure to stocks and increase their exposure to bonds. Why? Because this really helps Wall Street’s bottom line. Plus, there is no alternative voice telling them to do otherwise.
For the first few decades of my brokerage career, Wall Street firms were the gatekeeper of the stock market. You went through them, paid big bucks or you went home.
Then Joe Ricketts came along and created the internet brokerage infrastructure that allows individual investors to make their own decisions and execute them without having to go through the Wall Street brokers gate.
Many mature investors are no longer buying Wall Street’s stock/bond split drivel. An article in the Wall Street Journal documented the old people’s revolt: It reported that the percentage of stock holdings among life-experienced investors with accounts at the discount brokers is significantly different than the those with accounts at the Wall Street firms.
In the discount brokers group of 65 plus, over 60 percent of those accounts are all in stocks. The number for the 85-plus group is not quite as jaw-dropping at 43 percent. Best guess for the over 65 group at Wall Street firms is less than 25 percent stock. Translation older Americans are telling Wall Street, “Go take a hike.”
A couple more “single digit salutes” for Wall Street – A recent WSJ headline read “Auto sales dramatically decline in spite of analysts’ projections.” Another said, “Markets are ignoring the looming debt peril.” Mr. Market and mom-and-pop continue to tell Wall Street to make all the projections they want; They will do as they damned well please.
During a recent discussion with the gnomes, I learned that they have detected a slight change in Mr. Market’s mood. Not an apocryphal change, but a typical Mr. Market switch from slightly mellow to slightly sour. For the past few months, Mr. Market has been giddy about what Kramer has dubbed the FANG group. But, Mr. Market seems to have grown tired of them and is looking around for some new shinny objects to juggle. The Gnomes think it’s time for intelligent investors to evaluate which is/are the appropriate haystack(s).
I read a WSJ article that described an English cricket player who was gobsmacked by an opponent. Since then, I have been trying to use the word gobsmack in a sentence. There, I finally did it.
Quantum Fiber Expanding Fiber-Fast
Speeds to Millions of Homes in U.S. Cities!
Quantum Fiber in Omaha, Nebraska, is super-fast, reliable internet. We did away with data caps, bundles, and pricing gimmicks because you don’t want them. Instead, you get game-changing customer service, transparent pricing, and a powerful app for freedom, simplicity, and control over your internet. Quantum Fiber is what internet service looks like when it’s built for the world of you.
Have You Watched Grow O on Video Yet?
Grow Omaha’s brand-new website features video footage shot inside the radio studio during each week’s show!
Videos include News of the Week, Lightning Round, guest interviews, and “Grow Omaha Uncut,” a behind-the-scenes look at what happens during commercial breaks.
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