Dear Rundown Reader,
“Yes, the HEROES Act would be a great incentive,” says our first contributor today, “for people not to go back to work, especially if they’d get paid more than if they worked.
“Most people are lazy, don’t want to work, even when they have a job, and would be happy to get a handout from the gubment (misspelling intentional).
“Everyone knows at least one slacker-type — possibly more — who just skates by while you and I bust our butts at work. That’s unfair.”
Going back to our contributor’s Jamestown example, collectivism meant just 5% of the settlers did the majority of the work. Our next reader produces another historical example…
“The same thing happened at Plymouth a few years after Jamestown. Arriving late in the year, the first thing the settlers did was build the common house and other common facilities. The fields were worked by all and the crops were shared.
“Again the efforts for the common good varied widely. And again, the solution was to give each family a plot of land, and they kept what they grew.”
Thanks for the feedback; we’ll share more Monday.
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Your Rundown for Friday, May 29, 2020
DG: Command Performance
Here at The Rundown, one of our favorite stocks is Dollar General (DG). We’ve sung the company’s praises multiple times in the past — for good reason.
Why do we like DG? Among discount retailers, Dollar General continues to deliver the goods, serving an underserved segment of the market… and not only managing to stay alive but thrive as a brick-and-mortar retailer.
How’s the company managed during the COVID-19 crisis?
Shares are actually hovering near all-time highs today, particularly after the company announced first-quarter earnings yesterday.
Here’s what we learned:
- REVENUE: Exploded 28% to $8.45 billion (versus expected $7.42 billion)
- EARNINGS PER SHARE: $2.52 per share (beating analysts’ estimate of $1.68)
- SAME STORE SALES: Grew 21.7% (consensus estimate: 8%)
Year to date, DG shares are up 20% versus the S&P 500 SPX that’s dropped 6%. But does the discount retailer have much room to grow?
With the pandemic sidelining so many workers, CEO Todd Vasos says: “We are the most relevant we have been in many, many years.”
Market Rundown for Friday, May 29, 2020
The S&P 500 Index futures are down 7 points to 3,023.
Oil’s down 76 cents to $32.95 for a barrel of WTI.
Gold is up $16 to $1,744.30 per ounce.
Bitcoin’s down 2.2% to $7,401.
Send your comments and questions to, TheRundownFeedback@SevenFigurePublishing.com.
Hope you have a good weekend! We’ll be back Monday.
For the Rundown,