The Wall Street Journal had an exclusive article today regarding health insurance costs projecting to increase by 6.5 percent based on data from Willis Tower Watson. The article cites the rise due to growing hospital operating costs, including paying health care workers more, higher costs for drugs especially new diabetes and weight loss drugs.
Additionally, the price of oil has skyrocketed over the past few months and we warned about this on a post entitled, BLS: July CPI 2023. Oil is now trading above $87 at the time of this post.
If the Fed or anyone thinks it’s time to “pivot” to lowering rates they will need to reconsider such actions because inflation will resume its climb up.
We will continue to monitor the situation and come up with some investing strategies but in the meantime, we continue to Milk the Devon Cash Cow and recently sold more call options on our holdings for November expiry at $57.50 strikes.
If you want to know how that turns out, stay tuned, stay profitable and stay solvent…