A wise old owl lived in an oak

The more he saw the less he spoke

The less he spoke the more he heard.

Why can’t we all be like that wise old bird? 

John D. Rockefeller 1915

As one gets older, you learn to appreciate the idea that quality speaks for itself.  Something highly thought of or very valuable, or possibly an individual who has helped create tremendous value, needs no explanation. The Hope Diamond, rare and precious, strikes me as a fine example. Another might be something like a one of a kind Patek Phillippe wristwatch (Rolex, Cartier, Piaget, Bulgari are right there as well).  A person like a Phil Knight, founder and largest shareholder of Nike, strikes me as appropriate in the retail area.  Conversely, in today’s society, we are smothered with opinions which offer little substance.  Between what one sees in social media sites (Facebook, Twitter, Instagram, Snapchat) and then the ‘experts’ on supposedly neutral media outlets (Fox, CNBC, CNN, MSNBC), probably half or more of all information can be considered a waste of time. If you are a person with a full schedule, often times the best moments are ones of peace and quiet.  Consequently, you learn the essence of Rockefeller’s wisdom, that of listening and seeing more, and speaking less.  Not easy in today’s data-driven world.

In the financial realm, yesterday’s January job report showing a gain of 227 thousand jobs helped bolster markets in a week where it struggled. Also helping was the executive order by our quiet and understated President to begin rolling back the Dodd-Frank financial regulations.  Many of its supporters, especially Senator Warren and Sanders, believe these laws helped bolster the stability of the large money center banks by making them become less risky with more conservative lending practices. Many regional and community banks have long chafed at the burdensome regulations of Dodd-Frank, and compliance costs have exploded in this area, making small business lending tedious and tough. On the earnings front, technology titans Apple, Facebook, and Amazon reported huge numbers with one of the three companies having their stock pop (the nice shiny one in case you needed a hint). The others were burdened by high expenses and lower than expected revenues, if ten billion dollars of profit doesn’t impress you. The pain continues in retail as Under Armour and Ralph Lauren, long time standouts, posted disappointing results. In the oil space, Royal Dutch Shell showed its dividend is sustainable with a cash generation quarter of 9 billion smackers. There is a reason why they call it big oil.