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Lemley Yarling Management Co
309 W Johnson St
Apt 544
Madison, WI 53703
Bud: 312-925-5248

Comments on activity in client accounts

7 May 2021

The April Employment numbers disappointed with only 250,000 jobs added instead of 1 million expected. Markets shrugged the miss off as a one off and the major measures moved higher.

In response to the low Employment number those folks who are all heart known as The U.S Chamber of Commerce suggested suspending the $300 per week Federal unemployment benefits which expire in September. There was no call from The Chamber to pay a living wage to get the low paid workers back.

The Bit Coin-Doge Coin-Ethereum mania has not subsided and with the NFTs' (https://www.theverge.com/22310188/nft-explainer-what-is-blockchain-crypto-art-faq ) ridiculousness we remain mystified and cautious.

Markets continue to vacillate- up one day and down the next. This week the first three days were down; the last two up. Earnings have been good for the major companies but the gurus have mostly shrugged and found fault. The reality is that the market leaders in the stay-at-home economy of last year are still overpriced even though they have corrected 20% to 50% from their highs. The markets seem to be seeking new leadership but can't decide if they really want the value/ infrastructure stocks to do that.

We have been trading core issues. The up and down-market action and 10% moves in individual issues over 2-day periods has made the trading difficult. Mr. Market is telling us to buy and sit tight, which we hope to do.

We have added a few infrastructure stocks presuming the bill will be passed in some form and currently own:

Intel, Walgreen Boots, Viacom CBS, Wells Fargo, At&t, First Solar, Canadian Solar, Bed Bath, Macy's, The Container Store, Cleveland Cliffs Steel. Goodyear Tire, Apache oil, Hewlett Packard Enterprises, Deutsch Bank and Ford.

There are two times in a man's life that he should not speculate: when he can't afford it, and when he can.

Samuel Clemens

*****

 


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For those clients of LY & Co and other interested persons the Quarterly Report on the routing of customer orders under SEC Rule11Ac1-6.
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309 W Johnson Street Apt 544 Madison, WI 53703 312-925-5248
The factual statements herein have been taken from sources we believe to be reliable but such statements are made without any representation as to accuracy or completeness or otherwise. From time to time the Lemley Letter, or one or more of its officers or employees, may buy and sell as agent the securities referred to herein or options relating thereto, and may have a long or short position in such securities or options. This report should not be construed as a solicitation or offer of the purchase or sale of securities. Prices shown are approximate. Past performance is no indication of future performance.