The haircut of the future is here, now, in the Stadium District. And the instructional video was born in Tacoma.

Forget a barber using scissors to trim hair. Instead a stylist uses a curved blade to shape the fabric. On this cutting edge, the stylist becomes a “fabric folder.”

“The cut is one-of-a-kind. No one can copy what we do,” said Angel del Solar, owner of the Angelo Mendi Boutique Salon at 12 N. Tacoma Ave. At this salon, the alternative method is the only method. Prices range from about $30-$70, depending on the experience level of the stylist.

Why not spend a lot less elsewhere?

“You can get a No. 2 with fries,” del Solar said, “or a sandwich you really like.”

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Take heart. Stock prices will improve.

In its quarterly survey of major North American money managers, Tacoma-based Russell Investments reports that 72 percent see U.S. equity markets as undervalued. That’s a new high for the survey. A year ago, 34 percent said the market was undervalued. Last quarter, it was 45 percent.

“Professional money managers expect considerable bounce from the current market lows,” the company said in a release today.

The managers are bullish on eight of 13 asset classes, double the number from the last quarter of 2005 and the first quarter of 2006. The managers reported record levels of bullishness on corporate bonds, U.S. small-cap and mid-cap value stocks, and high-yield bonds.

“Managers are retaining their faith in the financial system and have a positive outlook for 2009, said Erik Ristuben, Russell‘s North America chief investment officer. “In their opinion, this market has been driven by panic and fear as much by economic fundamentals.”

Among the findings:

• Compared to survey results last September, managers are more bullish on corporate bonds and U.S. small cap equities, and more bearish on autos and transportation.
• Managers expect improvement in U.S. large-cap growth equities (67 percent), mid-cap growth (61 percent), U.S. large-cap value stocks (61 percent), corporate bonds (60 percent) and small-cap growth stocks (56 percent), among others.
• Compared to sentiments in September, managers are more bearish on cash, U.S. treasuries and real estate.
• For sectors, managers expect strong results from health care and financial services.
• 72 percent of the managers believe U.S. equity markets are undervalued, 20 percent say the markets are fairly valued and eight percent say the markets are overvalued. Three months ago, the numbers were 45 percent, 42 percent and 13 percent respectively.
• 50 percent of the managers expect markets to rise by 10 percent or more in 2009; 27 percent say 10 percent say less than 10 percent; 15 percent say the markets will be flat, and eight percent say markets will be down.

I've had enough bad news. And I've found something, well, salubrious. Reassuring. Pleasant.

The San Francisco office of the Bureau of Labor Statistics is reporting today that prices in the Puget Sound area are down.

Grocery prices decreased 1.8 percent between October and November. Household energy prices decreased 0.1 percent. Electricity is down 0.7 percent.

And gasoline, which had previously jumped like a rabbit scared by a fox, dipped 29.1 percent.

This is an off-month for the BLS report of activity in the Tacoma-Bremerton-Seattle area, and a full look at consumer prices will be out next month – but I think these preliminary numbers look nice.

Especially now.

The unemployment rate in Washington rose slightly in November to 6.4 percent, up from 6.3 percent in October, the state Employment Security Department announced today.

The state lost an estimated 11,700 non-agricultural jobs in November. This figure does not reflect the temporary losses due to the strike by Boeing machinists.

The largest declines were in residential specialty-trade construction, which shed 3,300 jobs, and clothing and accessory stores, which lost 1,800. Gains were reported in health services in social assistance, up by 700 jobs, and scientific and technical services, up 200.

In Pierce County, the November rate stands at 6.6 percent, up from 6.2 percent in October and 4.6 percent in November 2007.

Mary Ayala, ESD chief economist, said in a conference call with reporters this morning that “relative to other states, I think Washington is doing better.”

She noted that Oregon recently reported an unemployment rate of 8 percent. She said Washington is doing relatively better because the state “is a more service-based economy.”