Good afternoon,
Before I get to the golf summary, let’s start this week with some queries I received as I sporadically checked in at my office this past week. That, BTW, is one of the benefits of what I do, my schedule is fairly flexible when it needs to be. However, it also means that I sometimes have to work when others don’t.
“Why are you calling me on a holiday Monday? Isn’t the office closed?”
Well yes it is, but I’m catching up on things that need attention so here I am.
“What is the ticker symbol for blockchain?”
There isn’t a good answer for that. Blockchain is more like a process and not something you can invest in directly like a stock or ETF. I’m happy to talk more about it when you have a few minutes.
“What’s going on with (fill in an investment name here.) It hasn’t gone anywhere for months and I have the statements to prove it.”
As you know, things don’t always go in the direction we’d like when we’d like them to. If the investment is still a good idea and still fits your strategy appropriately, we’re going to keep it. If it doesn’t, we won’t.
“Where will crypto currencies be in 50 years?”
In 50 years? Blahahahahahahahahahahahahahahahaha! That’s not really a question that I was asked, but the headline of an article I saw that made me LOL.
https://www.cnbc.com/2021/07/03/what-cryptocurrencies-will-look-like-in-50-years.html
- 50 years is a long time. Think of the things we have now that weren’t even ideas in someone’s head 50 years ago.
- It’s impossible to predict that far out for pretty much anything, let alone a new, fast moving technology.
- However, I do predict that shares in the constantly rising dividends of the greatest companies in the world will be worth more in 50 years than they are today.
- The WMR will be a faint memory, or less, in 50 years.
Now, as promised and widely anticipated (or not), here is the report from this year’s Rocket Mortgage Classic PGA golf tournament at the Detroit Golf Club. If you have no interest in golf, you can stop reading here. In a cut to the finish, your 2021 champion is Australian Cam Davis. https://www.pgatour.com/tournaments/rocket-mortgage-classic.html
It took 5 extra playoff holes for Cam to defeat Troy Merritt for the title. And here is how much each finisher earned, https://www.golfdigest.com/story/here-is-the-prize-money-payout-for-each-golfer-at-the-2021-rocket-mortgage-classic?utm_medium=email&utm_source=070421&utm_campaign=hitlist&utm_content=DM18900&uuid=786f7fa8a6d34298a934888e884d817c
This was my 3rd consecutive year as a volunteer and here are my notes from last week, along with previous WMR commentary from 2019 and 2020 for comparison purposes. 2019 comments are in black, 2020 in RMC red and 2021 in blue.
Like each year, I worked as a Walking Scorer, inside the ropes with the players and caddies keeping track of their round. 2019 was highly attended, upwards of 50,000 fans per day. 2020 was eerily empty, with just players, staff and limited volunteers only. 2021 was in the middle, not crazy busy, but not empty either. I worked/walked every day of the tournament this year and without keeping exact count, I think I logged somewhere around a million steps over 5 days. The first two and half days included some pretty heavy rain which makes for a much less pleasant experience. And it had rained for several days before the tournament began so the course was already a bit waterlogged, soft and muddy. However, by the weekend and the final 2 rounds, the course had recovered nicely. Kudos to the grounds crew at Detroit Golf Club for keeping the track playable and in great condition. Through the luck of the draw, my assignment on Sunday was with the final group, which was cool. The crowd and the camera crews followed us the entire round. A few of my friends remarked “you’ll be on TV!” Well, maybe, but if I do my job right, I shouldn’t be.
Here are some anecdotes from our time there last week. In no particular order…(originally published July 2019, updated July 2020) (Updated again July 2021)
2019 – I enjoyed being a walking scorer. It wasn’t as difficult as it was portrayed to be and it was cool being inside the ropes with the pros. I’ll do it again next year.
2020 - AGREED. NO CHANGE FROM 2019.
2021 - AGREED AGAIN. IN FACT, I’VE BECOME MORE THAN A BIT SPOILED. AFTER ONE OF MY SHIFTS, MY STANDARD BEARER (THAT’S THE KID THAT CARRIES THE SIGN WITH THE PLAYERS NAMES ON IT) AND I STOPPED TO WATCH A COUPLE OF OTHER GROUPS FINISH. WE WATCHED FROM OUTSIDE THE ROPES LIKE REGULAR SPECTATORS. NOT COOL, WE’RE USED TO BEING ON THE FIELD OF PLAY WITH OUR GUYS, NOT WATCHING FROM THE OUTSIDE.
2019 - The pros are generally very nice guys. They introduce themselves at the beginning of each round and hand us a signed golf ball at the end of each round, which is a nice gesture. I gave them to my son. Not to be snooty, but their autograph would be more valuable to me on some new account paperwork, but a golf ball is nice too.
2020 - AGREED. NO CHANGE FROM 2019.
2021 - CONFIRMED. NOW THAT I’VE DONE THIS FOR SEVERAL YEARS AND MET PROBABLY 30-40 DIFFERENT PLAYERS, SOME OF THEM ARE NICER THAN OTHERS, BUT IN GENERAL THEY SEEM TO BE GOOD GUYS. I REMARKED TO ONE PLAYER THAT I HAD WALKED WITH HIM LAST YEAR AND HE SAID HE REMEMBERED ME. WHICH I’M SURE IS NOT TRUE, BUT WAS NICE OF HIM TO SAY.
2019 - A small handful of the pros aren’t so nice, as I heard that a few of them stiffed our locker room attendants, leaving without tipping the guys for their work during the week. That’s not cool.
2020 - HAVEN’T HEARD ANY BAD REPORTS ABOUT ANYONE THIS YEAR.
2021 - DID NOT HEAR ANY BAD REPORTS THIS YEAR.
2019 - The big name guys can’t go anywhere without being mobbed. That has to get old.
2020 - NOT A PROBLEM THIS YEAR SINCE NO FANS.
2021 - EVEN SOME OF THE LESSER KNOWN GUYS HAVE TO DEAL WITH THE PRICE OF SEMI-FAME.
2019 - During the practice rounds, the guys are friendly and talkative.
2020 - AGREED. NO CHANGE FROM 2019.
2021 - CONFIRMED. ONE OF THE PROS I HAD DURING THE PRACTICE ROUND WAS A 37 Y/O SPANIARD. TALL, ATHLETIC, GOOD LOOKING. HIS BROTHER WAS HIS CADDIE, ALSO TALL, ATHLETIC AND GOOD LOOKING. AND THEY BOTH HAD SPANISH ACCENTS. I SAID ‘THAT’S NOT EVEN FAIR, TALL. ATHLETIC, GOOD LOOKING AND ACCENTS?? CAN’T YOU LEAVE SOME WOMEN FOR THE REST OF US??” THEY LAUGHED.
2019 - During the tournament, they are laser focused and I learned not to speak to them unless they spoke to me.
2020 - AGREED. NO CHANGE FROM 2019.
2021 - CONFIRMED. THE PLAYERS ARE AT WORK, DON’T BOTHER THEM.
2019 - The fans who ponied up $10,000 to play in the Pro-Am tournament have too much time and too much money.
2020 - PRO AM WAS CANCELLED THIS YEAR.
2021 - CONFIRMED, ALTHOUGH THE AM’S SEEM TO ENJOY IT.
2019 - Most of the spectators are great.
2020 - N/A. THERE WERE A FEW HOMES AROUND THE COURSE WHICH SET UP SMALL VIEWING AREAS, 6-10 PEOPLE, AND THEY WERE PLEASANT AND SUPPORTIVE.
2021 - CONFIRMED. HAVING FANS BACK WAS BETTER. MOST OF THE PLAYERS SEEM TO LIKE A LITTLE FAN EXCITEMENT.
2019 - A few of them are not. Yelling inappropriate things and just generally being jerks. The pros ignore them.
2020 - N/A, EXCEPT FOR PROTESTERS WHO CHANTED PEACEFULLY OUTSIDE THE MAIN ENTRANCE.
2021 - CONFIRMED. ONE OF THE PROS MENTIONED TO ME THAT 98% OF THE FANS ARE GREAT AND THE OTHER 2% ARE (UNPUBLISHABLE DERAGATORY TERM.)
2019 - Spectating is fun from pretty much anywhere, on the course, from a corporate cabana or whatever, but most especially from inside the ropes with the players.
2020 - STILL FUN TO BE WITH PLAYERS.
2021 – CONFIRMED, BETTER TO BE INSIDE THE ROPES.
2019 - Walking with a group past a cabana in which your friends are having fun is a unique experience. They begin shouting your name as they see you walk by. Fans of our own, so to speak. Strangers in adjoining cabanas don’t know why they’re yelling, but they begin to look too. One of the pros turned around and gave me a smile as I waved to my crew. Shout out to the Go Team.
2020 - N/A THIS YEAR.
2021 - CONFIRMED. I HAD FRIENDS CALLING OUT TO ME ON THE COURSE, SO DID MY STANDARD BEARER, WHICH WAS FUN.
2019 - Professional golfers, in general, have attractive wives or girlfriends.
2020 - I WOULD ASSUME THIS IS STILL TRUE, BUT NONE WERE IN ATTENDANCE THIS YEAR.
2021 - CONFIRMED. WIVES AND GIRLFIENDS WERE BACK THIS YEAR.
2019 - The professional caddies are very smart guys and usually excellent golfers themselves. They know exactly where they are on the course at all times and they know exactly how far their guy hits every club in his bag.
2020 - AGREED. NO CHANGE FROM 2019.
2021 - CONFIRMED.
2019 - The logistics of putting on an event like the RMC is fascinating. There must be a gazillion (that’s the technical term) of items to handle and decisions to make.
2020 - AGREED. EVEN WITH A SMALLER EVENT, THE LOGISTICS ARE AMAZING.
2021 - CONFIRMED. STILL AMAZING. AND TO THINK THAT THE PGA TOUR DOES AN EVENT NEARLY EVERY WEEKEND ALL SUMMER LONG WITHOUT ANY MAJOR HICCUPS IS ASTOUNDING.
2019 - And finally, the game that the pros play is nothing like the game that the rest of us play. They are so much better on every level that there really isn’t a comparison to us amateurs.
2020 - AGREED. NO CHANGE FROM 2019.
2021 - CONFIRMED. WHAT THE PROS DO AND WHAT WE AMATEURS DO IS BARELY EVEN THE SAME SPORT. THEY ARE MAGNITUDES BETTER THAN EVEN THE BEST AMA.TEURS
Some additional comments from 2020. The PGA has lots of “official” sponsors. Official insurance company. Official beer. Official wine. Official spirit (not to be confused with beer or wine.) Official newspaper. Official tire. Official multi function printer. Official at home colon screening sponsor (yep, that’s an official thing.) Official tech partner. And so forth. I’m guessing, just guessing, that there is a sponsorship price which once paid, gets you an “official” title.
2021 - Confirmed. Lots of advertisements everywhere, but with a purse of $7.5 million, that money has to come from somewhere. Several people asked me how the members feel about having the tournament, how long the course is out of commission for us, etc. In short, we love it. I think it’s great for the club and great for the city of Detroit. We’re off the course for a total of about 10 days, which is no big deal. And we have reciprocity to play other courses in town, so it really isn’t much of an inconvenience. The set up of the tents and cabanas and stuff takes several months but it doesn’t affect play and the breakdown takes only a few weeks. By the end of this month, the course will be like nothing ever happened.
2020 - The named presenting sponsor, Rocket Mortgage, had its name plastered pretty much everywhere. There wasn’t a blank space around a TV tower or fence line that didn’t have the logo.
2021 - Yep, and we’re happy to have them. Without them and Dan Gilbert especially, there would not be a Rocket Mortgage Classic. There is one more year left on the contract for the RMC at DGC, but I’ve heard that we’re working on an extension.
2020 - Golf can be a painfully slow sport. The pros, this is their job after all and a stroke or two saved can mean a vast difference in paychecks, are very deliberate. In between shots, there is a lot of hurry up and wait.
2021 - Confirmed.
2020 - I do plan to volunteer again next year. Hopefully, it will be more normal than this year.
2021 - Confirmed.
If you’ve read this far, thanks for indulging my soliloquy. If you enjoyed it, I’m glad. If you didn’t, my apologies for wasting a few minutes of your life.
This week’s chuckle is from deep in the archives, here is The Honeymooners golf scene, https://www.youtube.com/watch?v=QNauilZRzHk
Safe for everyone.
LF27 – “As you walk down the fairway of life you must smell the roses, for you only get to play one round.” – Ben Hogan.
Have a great week and stay healthy.
This material includes links to third party sites not affiliated with Lincoln Financial Advisors. Lincoln Financial Advisors is not responsible for the content and does not guarantee the accuracy of any information or material contained therein. The opinions expressed are those of Michael Acho and not necessarily those of Lincoln Financial Advisors Corp.
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Michael J. Acho, MBA, CFP®
Private Wealth Advisor
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