Five interesting things that Hodges Capital research analysts discovered this week...

#1 LABOR MISALIGNMENT: “If you take a look at today’s labor market, what you have is 1.7-plus job openings for every unemployed person,” Fed Chair Jerome Powell said last Wednesday. “So that’s a very, very tight labor market. Tight to an unhealthy level, I would say.”

#2 CRYPTO: A recent global survey conducted by Morning Consult indicated that nearly 1 in 4 consumers report owning cryptocurrency, which is roughly equal to the share who report owning a certificate of deposit.

#3 ESG FRIENDLY: Last year, a record $649 billion was poured into environmental, social, and governance-focused funds around the world, up from $542 billion in 2020, according to Refinitiv Lipper.

#4 MARILYN: Christie’s announced that it would sell a 1964 Andy Warhol silkscreen of Marilyn Monroe in May for an estimated $200MM, which would make it the most expensive 20th-century artwork ever to sell at auction. All the proceeds of the “Shot Sage Blue Marilyn” sale would go toward the Thomas and Doris Ammann Foundation Zurich, which supports healthcare and educational programs for children. – New York Times

#5 OPPORTUNITY IN RISING RATES: “We did not sell our future by deploying excess cash into 2% loans and 1.25% securities. I can assure you it would have been much easier for us to have not remained disciplined, but we see this as a generational opportunity to deploy excess cash at much higher rates.” - John W. Allison, Home Bancshares Chairman, and CEO

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This discussion is not intended to be a forecast of future events and should not be considered a recommendation to buy or sell any security. Past performance is not indicative of future results. Investing involves risk. Principal loss is possible. Investing in smaller companies involves additional risks such as limited liquidity and greater volatility. No current or prospective client should assume that information referenced in this communication is a recommendation to buy or sell any security or is a substitute for personalized investment advice from your individual advisor. HCM does not provide tax or legal advice. Consult your tax or legal advisor for any related questions.

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