--- title: Friday Fast Five - 3/20/2026 description: We aim to help investors separate the news from the noise by providing our perspective. Every Friday the Hodges Capital research analysts list the five most interesting things they discovered that week. Subscribe to receive the Hodges Friday Fast Five in your inbox every Friday. image: https://blog.hodgescapital.com/hubfs/Hodges-FridayFastFive.jpg --- [![Hodges-Logo-1](https://blog.hodgescapital.com/hs-fs/hubfs/Hodges-Logo-1.png?width=215&height=98&name=Hodges-Logo-1.png "Hodges-Logo-1")](https://www.hodgescapital.com/) [![Connect With Us](https://hubspot-no-cache-na2-prod.s3.amazonaws.com/cta/default/9402040/5025aacb-6e9a-4ab0-8651-1dfa57e962c6.png)](https://hubspot-cta-redirect-na2-prod.s3.amazonaws.com/cta/redirect/9402040/5025aacb-6e9a-4ab0-8651-1dfa57e962c6) ** ** [![](https://blog.hodgescapital.com/hs-fs/hubfs/Hodges-Logo-1.png?width=521&height=237&name=Hodges-Logo-1.png)](https://blog.hodgescapital.com/) [![Connect With Us](https://hubspot-no-cache-na2-prod.s3.amazonaws.com/cta/default/9402040/5025aacb-6e9a-4ab0-8651-1dfa57e962c6.png)](https://hubspot-cta-redirect-na2-prod.s3.amazonaws.com/cta/redirect/9402040/5025aacb-6e9a-4ab0-8651-1dfa57e962c6) ** ** **Menu** ** ** ![Outside 1-1-2](https://blog.hodgescapital.com/hs-fs/hubfs/Outside%201-1-2.jpeg?width=4106&name=Outside%201-1-2.jpeg "Outside 1-1-2") # Hodges Friday Fast Five *"In the investment business, you go to school every day, but never graduate." - Don Hodges*   # Friday Fast Five - 3/20/2026 by [Hodges Investment Team](https://blog.hodgescapital.com/capital-fast-five/author/hodges-investment-team), on March 20, 2026 Five interesting things that Hodges Capital research analysts discovered this week... **#1 ****BOOKWORM DEMISE: **A recent YouGov survey reports that 40% of Americans did not read a single book in 2025. Among those who did read, most completed only one or two books, while a small minority accounted for the majority of total reading volume. A Gallup poll similarly indicates a 50% decline in book readership since 1999, with streaming and social media often cited as contributing factors. **#2 ****CASUAL DINING TRENDS: **Freedom Capital Markets published a recent survey indicating that same-store sales for casual dining restaurants remained slightly positive in the second week of March. The data suggests that same-store sales comps were up 0.5%, while traffic declined 2.0%. However, these positive trends could be offset by higher gasoline prices in the weeks ahead. **#3 ****BIG AI IS BIGGER IN TEXAS: **In a recent investor meeting with Rystad Energy (a private company), we learned that Texas is expected to soon overtake Virginia as the largest data center market in the U.S., driven by its abundant power supply. Texas has the most utility-scale natural gas, solar, and wind capacity of any state in the union. Moreover, ERCOT’s relatively favorable regulatory environment appears to be attracting data centers to the Lone Star State. **#4 ****2026 TAX REFUNDS: **This week, the IRS released statistics for the week ending March 6, 2026, indicating that the cumulative average refund amount for 2025 returns is up 10.6% to $3,676. Total refunds distributed through March 16, 2026, rose by $15.8 billion year over year to $160.8 billion. **#5 ****EYE ON PRIVATE CREDIT: **The private credit market has grown significantly in recent years and has become an area of concern for some major institutions. While problems in private credit have been isolated so far, the market remains small relative to public credit markets. According to Morgan Stanley, the U.S. and global private credit market is estimated at roughly $2–3 trillion in assets, compared to approximately $60–70 trillion in outstanding public credit markets (including U.S. bonds and bank loans).    *HCM is an Investment Advisory Firm registered with the Securities and Exchange Commission (“SEC”), is a wholly owned subsidiary of Hodges Capital Holdings and serves as investment advisor to the Hodges Funds. HCM is affiliated with First Dallas Securities, Inc, a broker-dealer, and investment advisor registered with the SEC.* *This discussion is not intended to be a forecast of future events and should not be considered a recommendation to buy or sell any security. Past performance is not indicative of future results. Investing involves risk. Principal loss is possible. Investing in smaller companies involves additional risks such as limited liquidity and greater volatility. No current or prospective client should assume that information referenced in this communication is a recommendation to buy or sell any security or is a substitute for personalized investment advice from your individual advisor. HCM does not provide tax or legal advice. Consult your tax or legal advisor for any related questions.* *All information referenced herein is from sources believed to be reliable and is provided as general market commentary and does not constitute investment advice. This material was created for informational purposes only and the opinions expressed are solely those of HCM. HCM shall not in any way be liable for claims and makes no expressed or implied representations or warranties as to the accuracy or completeness of the data and other information. The data and information are provided as of the date referenced and are subject to change without notice.* ### Hodges Friday Fast Five We aim to help investors separate the news from the noise by providing our perspective. Every Friday the Hodges Capital research analysts list the five most interesting things they discovered that week. 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