Penn Wealth Publishing

2018.11.04 Penn Wealth Report Vol 6 Issue 04

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04 Nov 2018 PeNN Wealth RepoRt volume 6 issue 04 5 Penn Wealth RePoRt Copyright 2018. All Rights Reserved. Charts tell the story. Here are some of our favorites from recent days. For the top business and economics stories of the week, visit Penn...After Hours at www.penneconomics.com. the Week in ChaRts At least there's this... US beer spikes, foreign falls The end is near Well, here we are. 126 years later, and Sears (SHLD) now appears ready to throw in the towel. The company, which announced it will file for Chapter 11 bankruptcy, was once America's largest retailer. While it lost that title to Walmart (WMT ) in 1990, it still had an envi- able market cap of $23 billion in 2007. Today, Sears is a shell of its former self, going into bankruptcy with just a $33 million market cap. Eddie Lampert thinks he can bring the com- pany back. Based on what evidence? The chart is simply remarkable. American brewer Sam Adams (SAM, Boston Beer Co) is up 54% YTD, while Brazilian/Belgian brewer Anheuser-Busch (BUD) is down 33% YTD. Why? It couldn't just be that Fenway Park has dumped BUD for SAM. Maybe it's the fact that A-B saw a 10% drop in revenues this past quar- ter, while Boston Beer saw a 24% spike in sales. Speaking anecdotally, our consumption of SAM spiked after BUD was forced into foreign hands by the bungling mismanagement (our opinion) of Buschies III and IV. While the markets were going through their nightmarish October bloodbath, with the major indexes down double-digits, at least Americans should see some help at the pumps. Concern over a Chinese slowdown due to tar- iffs and overspending in that country led to a 12% drop in crude oil prices. Essentially, oil prices went from the mid-$70s to the mid-$60s over the course of the month.

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