The Lowry Letter® - 11/1/2025

We hope you had a Happy Halloween! With a couple of friends, we honored a classic 80’s comedy at a recent Church party.

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• Legendary Japanese sushi chef Jiro Ono is 100 years old, with no plan to retire. We loved the great documentary about him, Jiro Dreams of Sushi.

• Immigration policies have broad effects, including on wildlife. This article looks at bears on the border of the United States and Mexico.

• We learned this week that Florence Nightingale was a data nerd, and one of the originators of the pie chart. She was also dishonest with her data.

• This is a really interesting look at the concept of “accidental invention.”

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Q: What is the Federal Reserve up to?

A: The last week of October brought another small cut in short-term interest rates. This was in line with expectations, but the Fed board is not uniform in its views on the matter. Some governors wanted a larger cut, one no cut at all. Regardless of what happens at their December meeting, long-term investors should focus on fundamentals. These continue to be positive.