Dr. Jeremy Siegel of Wharton has long been one of my favorite thought-leaders. His comments on the latest Jobs Report are that it was a disappointment, as the number of jobs created was less than expected. Plus, there were downward revisions to two previous months. (Still, unemployment at 4.3% is at a 16-year low,). He is mildly surprised that the stock market did not have a negative reaction to the report and concluded it was offset by falling interest rates and the depreciating dollar, which is especially supportive of large cap stocks.
More important to me, as someone who confesses a certain fondness for Dr.Siegel, he looks terrible! His face is suddenly thin, and he has lost most of his hair, Today, his weekly commentary begins with an ominous “Over the coming months, while Professor Siegel receives treatment for health related matters . . .”
I wish him well, as it would be a less-bright and a less-bullish world without him!