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At Wilsey Asset Management, our main goal is to provide attractive returns for clients on their investments by using a common sense approach to investing. Brent Wilsey, the President of Wilsey Asset Management, has been in the investment arena for 30 years. Brent uses the old principle of buying low and selling high. This is all based on a fundamental analysis of a company’s financial statements. There is no emotion or hype in investing at Wilsey Asset Management, which is why our motto stands strong "No Emotions, Just Results". All final investment decisions are made by Brent. His money is invested the same as yours with no sales commissions; only an advisory fee based on account value. Financial independence starts with Wilsey Asset Management.
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Daily Economic Update
Wednesday, August 20th
There was some disappointing news on retail sales coming in flat versus last month’s .2% gain and the estimate of a .2% gain. Motor vehicles slipped .2% on top of Junes .3% decline. Weakness in retail sales was seen by a .5% drop in general merchandise and smaller declines were seen in furniture and home furnishings along with electronics and appliance stores. Clothing and accessories with health and beauty personal care were up 0.4%. Small increases were seen in food and beverage stores along with sporting goods, hobby, book and music stores.
Business inventories are showing some sign of weakness as retail sales slow down and inventories rise 0.4% on top of last month's 0.5%, the estimate was a 0.4% increase. I am not concerned with this yet because the stock to sales ratio still stands unchanged at 1.29. However, if we were to see a another rise in business inventories for July this could be a problem in manufacturing which would have to slowdown. This could hurt the third quarter GDP by a couple of points. No reason to dump your stock portfolio yet, but stay tuned for further economic developments that I'll be discussing over the next 30 to 60 days.
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Our commitment to you; our staff consists of experienced professionals with a "hands-on" approach to financial guidance. Not only will you find our team members knowledgeable, but you will also discover that our staff truly cares about making your dreams a reality. As your Financial Professionals, we will do everything in our power to keep you focused on where you want to go, advise you on how to get there, and continually remind you of the importance of maintaining a disciplined approach to realizing your dreams.