A fascinating anecdote about the ‘fry attachment rate’ and consumer behavior

Consumer spending can rise even as consumer sentiment plummets amid high inflation and the rising risk of a recession. Bank of America analysts recently found ”consumers do not necessarily dine out less during downturns, but rather they tend to shift to cheaper restaurants. Lamb Weston, the $11 billion potato processor that supplies frozen french fries to your favorite restaurants including McDonald’s, called attention to the “fry attachment rate” in the July 27 quarterly earnings call. Since 1950, the S&P has seen an average annual max drawdown (i.ee) of 14% in the biggest intra-market sell-off (iee), Goldman Sachs destroys one of the most persistent about investing in stocks in stocks, we dispel an oft-repeated myth . . .