President Eric Bubb called the meeting to order and lead us in the Pledge of Allegiance, after which Julio Dotel provided with an Invocation.
Club Anniversaries were noted as follows: Peter Ho 22 years – Nov 2nd, Brent Worley 17 years – Nov 3rd
Francis Karanu, originally from Kenya, provided a video presentation on Project Cure, which is an upcoming November 22 project. Project Cure provides medical supplies to 134 countries though 30,000 volunteers! The upcoming Nov 22 event is sponsored by the Satellite Club.
RLI (Rotary Leadership Institute): Eric announced that a new class was starting up in January. Eric shared his experience, recommending it to any and all with interests in Rotary or any organization’s leadership. Eric noted that he wished he had taken it much earlier. Marc Horner presented Eric with his RLI certificate. (Marc Horner has been one of the instructors.)
Salvation Army – Red Kettle: Bell Ringing – Eric noted that our schedule begins November 19th and go online to register.
Westside CAN Center Toy Drive: We have committed to provide 50 toys this year. You can order on Amazon and ship directly to Westside Can. Monetary donations are also welcome. A sign-up email will be sent after today’s meeting.
Rotary at Uptown Lounge – On Friday Nov 11th at 7 pm (formerly Dave’s Uptown) (an upscale cocktail and piano bar at 3400 Main Street, KCMO), we will have an informal gathering. We are responsible for our own for food & drinks. Sounds like fun for a Friday evening.
UPCOMING EVENTS:
11/14 Ramblin Rotarians at Overland Park Rotary Club (Noon meeting)
11/11 Rotary at the Uptown Lounge
11/22 Rotary After Hours at Project C.U.R. E. (sponsored by the Satellite Club)
12/08 Holiday Party – December 8th at Drexel Hall (3301 Baltimore, KCMO )
PROGRAM: Topic: “The Stock Market: Should We Be Greedy or Run for Cover”. Bill Kort (Club 13 member) with financial services experience since 1968 until his retirement in 2012. For the last ten years Bill has been managing his own portfolio, blogging and enjoying life with his wife of 48 years, his children and grandchildren.
Scrivner’s Random Thoughts from the Bill Kort’s discussion: We hear the dreaded “R” word Recession. Recession is a slowing down in economic activity. A lot of what we are seeing is part of an ongoing longstanding economic cycle running its course.
We hear about Inflation and “QE” or Quantitative Easing, which occurs when the Federal Reserve buy bonds out of the market to slow the economic activity (less liquidity $$ in the markets). BUT when the Fed buy $4B (billion) out of the whole markets’ $250B per day, it sounds more impressive than factually the case. The “Supply Chain” issues are real, but are slowly unwinding.
Immigration Policy. We used to believe that 5% (unemployment) was “full employment” but now 3 ½ % is considered full employment. Employer can’t hire enough employees, particularly at the low-end labor market.
Energy Policy. The Keystone pipeline project, if approved would be several years out before construction completed, plus there would be legal challenges along the way. This has been a red herring. Energy companies already have inventory of undrilled upon rights. One company Apache has a 10-year inventory of drilling rights. Oil companies fear, among other considerations, the electric cars. Instead of using their money to drill, the energy companies are paying the funds out to shareholders through increased dividends and stock buybacks.
Globalization. We are shipping jobs overseas, resulting in reduced numbers of manufacturing job here. The balance of power is with the employers.
Inflation: China & India’s economies are expanding, creating growing middle classes, with increasing demands for more products & services for them. This serves to further fuel inflation. Traditionally stocks have been viewed as an Inflation Hedge. The companies behind those stocks have hard assets and can raise their prices.
Be “Greedy”: History can be instructive, if not repetitive. We have seen all this before. In 1974 we had inflation & the Iranian Revolution. Oil went from $3 per barrel to $12 then $40 per barrel. The 10-year U.S. Treasury yield in 1974 was 7.5% and 12.5% in 1984. The S& P 500 in 1974 was 72.56 and in 1980 133. (Currently the S & P is at 3,752.) It is best to stay invested (versus market timing – in & out) in high quality diversified stocks. (Profitably trading stocks is hard work.) When people are scared, be greedy. (We get enough fuel for scaring us in the daily media.)
TODAY’S QUOTE: “It’s kind of fun to do the impossible.” – Walt Disney
President Eric Bubb wrapped up the meeting with the Four Way Test:
JOHN GILLIS
As an ongoing scrivener’s note: our local Club 13 Rotary organization has at least three main legs (like a three legged stool) KCRClub 13 with its various committees; KCRCFoundation (primarily to support the Rotary Youth Camp); and the Rotary Youth Camp, [each with its own separate board].
Help us give a happy holiday to children in Kansas City! We have committed to 50 gifts for the Westside CAN Center, monetary donations are also acceptable via checks mailed or delivered, or given to one of the community service committee members to drop off. You can sign up at 
Rotarians,
The Uptown Lounge is a new upscale cocktail lounge and piano bar located at 3400 Main, KCMO, in the historic Hyde Park district. The Lounge features live music and craft cocktails Tuesday through Saturday evenings. There will be a Rotary Night at the Uptown Lounge on Friday, November 11th, 7:00 PM. Alan Stribling will play the piano and sing beginning at 7:00 PM and Mike Rorah will perform at 9:00 PM. This will be an enjoyable evening of good music, lively conversation and warm fellowship. There is no cover charge or fee to attend, however, each person will buy their own drinks. It will be helpful to have an estimated number of attendees, so please RSVP through Club Runner by November 9th. 
Please join the Rotary Book Discussion Group on Zoom for the discussion of the book The All-True Travels and Adventures of Lidie Newton by Jane Smiley. The book is available at Rainy Day Books and the discussion will be led by Vivien Jennings. All Rotarians and guests are welcome.
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