Going the Way of Kodak and Sears

To the Editor:
I happen to believe that Walt Disney is slowly, but surely, going the way of Kodak and Sears (“Disney Stock Is Ready to Rally After a Lost Decade,” Cover Story, July 25). The parks are cruelly expensive. The demographics in this country are trending away from the classic Disney audience; entertainment is, as well. Disney always seems to be reacting. While I don’t think the end is nigh, I believe that most of the serious money that can be made in this stock has been made.

**Mark Beebe

On Barrons.com**

Last Bear Standing

To the Editor:
Years ago, Maytag ran ads touting the reliability of their washers. They featured the Maytag repairman, who was described as the loneliest man in the world. As one of the last bears standing, Randall W. Forsyth is now the loneliest man in the world (“Meme Stocks, One-Day Options, FOMO: Is a Market Top Near?” Up & Down Wall Street, July 25). In the end, he’ll be proved right, as the market is badly overvalued and there’s always a reversion to the mean. How long he remains the world’s loneliest man is anybody’s guess.

Gene Sweet
Chicago

Kudos to Powell

To the Editor:
President Donald Trump is once again pressuring Federal Reserve Chair Jerome Powell to cut interest rates—resorting to insults and even threats to fire him (“The Fed Hasn’t Seen a Split Like This in 30 Years,” The Economy, July 25). Kudos to Powell for standing firm on what he believes is best for the economy. Trump’s concern appears to center only on the government’s borrowing costs, with little regard for broader economic stability or the risk of triggering a recession.

Martin Blumberg
Melville, N.Y.

Never Say Never

To the Editor:
I read the July 25 Other Voices column with interest (“The Fed Has the Tools to Fight Stagflation. The 1970s Aren’t Coming Back”). My take is that the real U.S. economy is already quite weak. I learned as an economist that Bureau of Labor Statistics data were suspect at best. I also learned that the household employment survey was far more credible than the establishment survey, whether in a positive or a negative direction.

More important: As an investor, I never lose sight of the adage that “past performance is no guarantee of future results.” The perspective of the column suggests that stagflation cannot and will not come around—ever. There’s one more mantra worth remembering: “Never say never.” I lived through the 1970s, and the 1980s were an evil echo of that decade. I must wonder what Matthew Jeffrey Vegari was doing back then.

Greg Iwan
Longmont, Colo.

Send letters to: mail@barrons.com. To be considered for publication, correspondence must bear the writer’s name, address, and phone number. Letters are subject to editing.