February 2021

I read a quote once that spoke to me profoundly. I don’t know who said it, but it was that “People hope for a better life until the day they die.” For me, the quote was both enlightening and saddening. Hope is universal. Hope is what keeps us alive. Hope is what makes us strive to do better and be better. If we continue to hope until we die then we believe that it’s never too late for our desires to come to fruition. Sadly, the quote also invokes an image of a person who lies passively hoping and he literally dies waiting for good things to happen.

I’m always pleased but also surprised when patients tell me that I’ve given them hope. They have hope again that they will get better, that their chronic pain issue can be alleviated or resolved, and that as a result, their quality of life and livelihood will be better. Hope is synonymous with optimism; both come from the soul and are not gifted.  Sometimes we forget about the reasons we have to be optimistic and need a reminder.  Physicians can encourage hope by giving objective and accurate information about the medical condition and setting forth a treatment plan.  

In order to have hope we should be ready to take action to make what we desire come true. Nothing good ever comes about from doing nothing or not mobilizing positively towards a goal.

Whether it’s hope for better health, financial stability, relationships, or emotional stability, hope alone is not enough. For example, I may give a patient reason to believe that their pain can be alleviated by something I can do for them, but they in turn need to have hope based on what they can do for themselves. I can perform an injection for knee pain, but if the patient is overweight, the knee pain will return more quickly. The absolute treatment is to fix the source of increased strain on the knee joint which is weight loss.

I had one patient tell me that “I’ve been overweight all my life and I’ve never had knee pain before.” She didn’t believe that was the cause of her pain. I explained to her that in her case, her weight gain was gradual and steady enough to allow her body to change to accommodate the increased stress. The bones including the joints and spine will respond to excess weight by increasing in size and density. Ultimately, this will negatively affect the function of the bones and associated nerves and tissues involved. In the knee, the joint spaces will become narrower and the cartilage will be compromised such that the joint is forced to move unnaturally which causes pain.

Having hope is to believe that actions can affect the future. We make decisions every day that can and do and will affect our present and future health, lifestyle and emotional well-being. The more positive actions we choose, the more likely we are to have our hopes and desires become a reality.

As a physician, I appreciate that I can encourage hope by outlining the correct actions a person can take to improve his health. Certainly, there are treatments that I can offer for pain relief; however, the best action is that of caring for yourself. A healthy lifestyle is a choice and it is a long-term endeavor.

Momentum is defined by Websters as: “strength or force gained by motion or by a series of events.”  There is certainly momentum in the stock market now. I’ll get to mania below….

Where is the market now and how did it get here??  The simple answer is the stock market it at record highs because there are more buyers than sellers.  Simple is not always better.  Yes, the U.S. major stock market indexes are at the highest in history (as of today, February 19, 2021), but a better answer to how it got here is much more insightful than “more buyers than sellers”.  Sure, the basic law of supply and demand determines price.  But it is the factors driving demand for stocks over the last near-year that explain the higher price momentum and has fueled what some say is a stock market mania now.  Okay, time for a reminder on “mania”.  Oxford Languages defines mania as “an excessive enthusiasm or desire; an obsession.”  What the world witnessed in GameStop stock recently is an excellent example.  There are many examples besides GameStop.  Speculation in cryptocurrencies, EV’s, marijuana, clean energy and other headline-grabbing “disrupters” are making mania-like moves.

In this month’s Investor’s Edge column, I want to shed a bright light (think of a yellow traffic signal light) on the stock market’s level today, the catalysts that got it here and what you as an investor should consider.  So, with signs of a market mania and what is realistically unsustainable price momentum in many stocks, I think is helpful to understand the major factors fueling a seemingly insatiable appetite for quick, short-term profits.  What you should consider for your own benefit will be discussed below. 

There are numerous factors that have led to mania investing in high-risk segments of the stock market (as I noted above).  Here are a few I think have fed the frenzy the most.  What has been happening in the stock market has been extraordinary.  Looking back over my near 37-year career as an investment advisor, only the 1999/2000 climactic run-up in the market resembles the market now.

* * SPACS – These are the new IPO’s.  SPAC’s (Special Purpose Acquisition Corporations) are created and issued to public investors by their “promotors”.  In my experience, anytime investments are promoted they rarely end well. SPAC’s have had incredible growth.  Last year the number of new SPAC issues was 4 times 2019’s offerings – and that was the previous high.  The $70 billion raised by SPAC’s last year was 5 times the 2019 amount.

* * Social Media – Reddit and “subreddit” WallStreetBets, Twitter and message boards throughout the internet have had a massive impact on specific stocks. The likes of Reddit and Robinhood’s trading platform have made stock speculation a cultural phenomenon. 

* * Margin – Investment leverage is achieved through investing borrowed money.  This is called margin.  Like other aggressive investment techniques, margin investing adds another element of risk.  Sure, margin trading can result in higher profit potential than traditional investing.  Investors use of margin has soared in recent months.

* * Options – Stock options, especially buying “call” options, have seen volumes explode to the upside recently.  This is a classic sign of stock speculators gambling on specific stocks going up.  Buying options is another form of stock leverage and usually best used by investment professionals.  In the last 9 months, they have been used my many million relatively new investors.  Like all gambling, option trading is a zero-sum game.  The few winners win what the many losers lose. 

* * Short Squeezes – While generally reserved for experienced investors, short selling in some stocks has back-fired.  Short selling stock basically involves selling borrowed stock.  The short seller hopes to sell the borrowed stock at a high price and then buy it back lower later to return the shares to the lender.  If, instead, the borrowed stock goes up, the short seller then is likely to buy the stock back quickly to minimize the loss of paying more than it was sold for initially.  A short squeeze is an attack on short sellers and occurs when great demand all at once to buy a specific stock forces the short seller to buy the stock to “cover his shorts”.  This was at the epicenter of the GameStop stock craze.

All the above, and more, have led to the…

* * FOMO – Fear of missing out is at full force during a mania. Too many people know too many people making too much “easy” money.  It is the great human condition, emotional.  This speaks to the psychology of investing and is typical of investor behavior.  Fight it!  Avoid the temptation.

Now, what might you do.  First, have an investment plan.  Secondly, stick to it.  As a SCUBA diver, I respect the mantra, “Plan your dive, and dive your plan.”  All investors should plan their investments and invest with their plan.  Yes, the FOMO feeling is hard to resist.  But if your long-term, reasonable risk investment plan doesn’t allow for speculation – then don’t do it.  Investing and gambling are quite different.  You know that.  And remember, the stock market is not a casino.  Also remember, “what goes up, must come down”.  After a remarkable advance since last April, the stock market at some time will go down.  Before that happens, ask yourself how you feel if the value of your stock investments dropped 25 or 30 or 40 percent.  What would you do?  Know those answers before it happens.  The opposite of FOMO is GMON (Get Me Out Now).  Avoid reacting emotionally to a falling market.  Have an exit strategy in your plan. 

I hope this helps make some sense of what appears to be a market mania and more importantly, what you might do now.

Invest wisely!

Income taxes are due at the normal time this year – April 15! No quarantine extensions for 2021. That officially makes March “Tax Season,” which means we probably need a stiff drink right about now. Why not sip everyone’s favorite south-of-the-border specialty – the margarita! 

Nothing quenches your thirst and lights up your palate better than a margarita. The tang of fresh limes, the fiery bite of good tequila, a hint of orange, and the zip of salt crystals all work together to create a little piece of heaven on earth. But what’s the secret to a good margarita? The ingredients, of course!

The base of a top-notch margarita is tequila. Go quality or go home! Don’t bother with the cheap stuff. It’s filled with artificial coloring and who knows what else. All of those additives are responsible for the very worst hangovers. If you choose a fine tequila, not only will the taste be pure, but your body won’t suffer for your questionable choices the morning after.

When purchasing tequila, look for the words “100% Blue Weber Agave” on the label. Any tequila worth its salt is crafted exclusively from this succulent plant. The blue weber agave is native to our southern neighbor, Mexico, known for its hot climate, beautiful beaches, delicious food, and the actual town of Tequila, in the state of Jalisco, the birthplace of the spirit.  

Tequila is divided into five categories: gold, blanco, reposado, anejo, and extra anejo. Gold tequila is simply a low-quality “mixto” – a blend of tequila and neutral cane spirit with colors, flavors, and thickeners thrown in. It’s easy on the wallet but hard on the gut. Avoid it at all costs!

A margarita can be made with any of the remaining categories depending on the preference of the drinker. Blanco (also called “silver”) tequila offers a fresh, citrusy taste and a savory pepper bite. Pungent in nature, blanco tequila carries the true essence of the blue weber agave plant, unaffected by wood or age.

But some prefer their tequila aged! The aging process allows the spirit to mature and develop fine secondary aromas and flavors of vanilla, spice, and wood.  Reposado or “rested” tequila is aged in barrel for three to twelve months. Pale amber in color, a reposado tequila has a more mellow taste than a blanco but still offers up plenty of that notorious tequila fire. Anejo or “aged” tequila is aged one to three years in old Kentucky bourbon barrels. Anejo tequila is deep amber in color and full-bodied, with sweet notes of vanilla and toffee rounded off by that classic peppery agave. Extra anejo is the most expensive tequila and aged three to four years in old bourbon barrels. Always made with a distillery’s finest spirits, extra anejo is best served neat or splashed onto the top of a margarita for added intrigue.

For something decidedly different, a margarita can be made with mezcal in the place of tequila. Whereas tequila must be crafted with the weber blue agave, mezcal can be made with any agave plant. Tequila’s clean, fresh flavor is created by steaming the heart of the agave plant while mezcal’s strong, smoky notes comes from roasting this heart with lava rocks. Although some love it and some love to hate it, mezcal added to any cocktail contributes a distinctly earthy flavor and ashy aroma.

A classic margarita is made with tequila, an abundance of fresh lime juice, and a citrus liqueur. In a pinch, triple sec can be used, but for a truly divine margarita, Cointreau or Grand Marnier is preferred. Both liqueurs are of French origin, but Cointreau possesses a bright, zesty orange flavor while Grand Marnier boasts an orange essence with lofty notes of vanilla and oak. Cointreau is a little sassier while Grand Marnier is richer, heavier, and a bit sweeter than Cointreau. Sample them both and choose your favorite!

When you’ve assembled the finest ingredients – 2 oz. tequila, 2 oz. liqueur, 2 oz fresh lime juice – add them to a cocktail shaker filled with ice and shake until well-chilled. For authenticity, don’t forget to salt the rim of the glass with coarse salt! Pour over fresh ice and serve.

The margarita has arrived. Salud!

Questions or comments can be sent to 4elizabethkate@gmail.com. Follow Elizabeth Kate on Instagram at @ielizabethkate!

Vote the Bums Out!  We’re living in interesting times. But, maybe not the most interesting times.  Gods and Generals is part of a trilogy.  The Civil War had just begun.  Many of the same issues we are having today are bubbling up.  Freedom.  Slavery.  While that may have been the trigger, the real issue, in my opinion, was that they had different States of the Union that were very diverse.  Diverse in where their people settled from, diverse in how they believed government should be handled.  Diverse in the power of the Union versus the States of that Union. The state lines had definitely started to blur.  Moving from one state to another was happening.  Although a century had passed, our Nation was still in infancy. 

Gods and Generals was based on Jeffrey M. Shaara’s bestseller, and recounts the fierce allegiances and combat of the early Civil War. This American Period piece war drama was written and directed by Ronald F. Maxwell.  A strong cast of Stephen Lang as Stonewall Jackson, Jeff Daniels as Lt. Colonel Joshua Chamberlain, and Robert Duvall as General Robert E. Lee, all delivering amazing performances.  When in character Duvall actually looks like Lee! 

Abraham Lincoln had just taken office after running on an anti-slavery ticket. In 1861 there were 34 U.S. States, seven of those seceded, all southern, forming the Confederate States of America. That number grew to 11 plus Kentucky and Missouri.  Yes, it was about slaves, but it was also about money and access to a labor force.  It’s interesting that the 1860 Census showed 31,429,891 people living in the United States at that time.  Of that number, 3,952,838 were slaves.  A work force.  One hundred and sixty years have passed. 

We have moved past owning humans but, as a nation, the scars are still with us.  It’s estimated that 750,000 soldiers, plus unknown number of civilians died during the Civil War—more than all wars combined until Vietnam.  Four million slaves were freed.  Yes, you just have to look backwards at our history to know that the trajectory of the United States of America was changed forever. 

We aren’t talking about robots or drones used as delivers of doom, we are talking hand to hand combat, human lives, for the most part white, who gave their lives for their fellow human beings in the quest for a better world. 

As you may have guessed, I’m a student of history, or I strive to be.  In the last year I have taken three Constitution Classes.  Don’t laugh, I still don’t know what I should know about it to be a good citizen even though these classes are taught by Constitutional scholars.  But every time I take another one, I learn a little more.  Maybe one day, I will learn enough to be worthy to be called a citizen of the United States of America.  What a gift from the many men and women who have given their last ounce of courage to give me this incredible place to live.  Our forefathers, in my humble opinion, were ordained by God to design and build the structure for a country that has lasted for nearly two hundred and fifty years. 

Now, I’m going to continue to learn and teach.  I will be a Constitutional Coach (facilitator actually) to help educate those who choose to be educated.  Therein, lies the problem, preserving our form of government is not a choice.  Classes are free, we don’t get paid and we don’t charge.  We do it for our “love of country.” Watching Gods and Generals is a good start!

They carried the same Bible

They believed in the same God

One side fought for God’s Glory

The other for His Kingdom on Earth

But for the duration of the War

God Refused to Take Sides

As always if you have any comments or questions, contact me at carolyn@carolynhastings.com

Q. Sitting on my deck is a Genetic Dwarf Peach in a container that I planted last spring. How do I go about pruning it since it’s a compact and bushy grower?                                                                                                            

A. The popularity of genetic dwarf fruit trees increases as gardeners with small yards look to pick homegrown fruit. Their bushy and compact growth habit comes from the space between two leaves, also called internodes, which is very short. They’re also desirable, as you don’t need a tall ladder to manage them; although, some varieties can grow to ten feet if left unpruned. Genetic dwarf peaches and nectarines are excellent container plants on decks, patios, and balconies. They’re often used as a substitute for citrus and make handsome landscape shrubs, and require little pruning each year. Pruning involves thinning the branches to open up the canopy to maintain the tree’s height and spread. You also strengthen limbs by removing entire branches instead of reducing their length. It would help if you had strong branches to support the weight of the fruit. Fruit production occurs on the higher branches’ extremities, so removing this growth is not a severe problem. Besides, you should remove any of the rubbing and crossing branches keeping those branches that best add to the plant’s overall shape. This improves the air circulation, which is essential for controlling disease and allows more sunlight to reach the ripening fruits in the trees’ center. The dead or dying twigs and branches are also removed. This dieback tends to occur in the lower section due to the shading from the dense growth. You remove any unwanted growth and or suckers on an as-needed basis during the balance of the year. And finally, genetic dwarf peaches and nectarines are susceptible to Peach Leaf Curl. You apply a Copper Fungicide starting in late November. Right now. I’d make two applications, with the last one occurring just as the buds are swelling and showing color. This is called ‘the pink bud’ stage. 

Q. What is the best spray plan for peach and other fruit trees? What if rain prohibits on scheduled dates?

A. Peach Leaf Curl is the primary concern with Peaches and Nectarines, with a Copper Fungicide being the dormant spray. I suggest you apply a Copper Fungicide dormant spray. You need to start with one application in the late fall after fifty percent of the leaves have dropped off. The next application is around mid-February. You want to wait until the buds are about to open. This is called the pink bud stage or popcorn stage. Rain is a big problem as it will wash the Peach Leaf Curl spores into the open buds and infect them. Hence, you want clear dry conditions when the trees are in bloom. You can spray now, but your first application is best made in the fall. With the other fruit trees except for citrus, one application of a Copper Fungicide made in January-February is sufficient. 

Q. I had a severe infestation of Whiteflies last year. Can I spray a dormant spray to prevent them from returning?

A. Whitefly is a summer, pest problem that plagues vegetable gardens, evergreen shrubs, and herbicides plants such as Escallonias, Pyracantha, Geraniums, and Fuchsias. It’s beneficial to make one application of an oil spray to evergreen shrubs during the winter months. It will clean up the over-wintering Whiteflies; however, it will not eradicate the problem from returning. Whiteflies are mobile so that they can migrate in from other yards. Whiteflies are a severe problem on tomatoes, squash, peppers, eggplant, melons, and pumpkins. The population starts slowly, and they build up rapidly when the temperatures warm up. When the temperatures are over eighty-five degrees, whiteflies can complete a generation in as little as eighteen days. You must be proactive before this happens. It very difficult to control the Whiteflies once the population explodes. The first thing you need to do is to be diligent in looking for them early on. In April, I’d place several yellow sticky traps in the area where they were a problem last year. The adults are attracted to the color yellow and are then caught when they land in the clear sticky resin. The traps monitor the activity and level of adult Whiteflies in your garden. Once I see Whiteflies in the traps, I then start looking at the underside of the host plants’ leaves. Early on, you can just pick the infected leaves off and discard them. When the population starts to build up, you spray with an oil product. The best time of the day to spray is in the early evening, just before the sunset. Your goal is to keep the population at a manageable level, so you need to be pro-active all summer long. The biggest mistake in a vegetable garden is waiting to do something. By mid-summer, when the population is huge, your best alternative is to dig the vegetable plants up and discard them.