Thursday, February 20, 2020

The NBT

Hello everybody,
Amazon and Apple are boring; they are for losers and retirees. Space tourism is all the rage now. The veteran entrepreneur Richard Branson's Virgin Galactic Holding Inc. is worth now 4 times what it was worth just in December. By the way, Amazon's founder Bezos also takes part in the space race, with his Blue Origin. Not to forget Elon Musk's SpaceX. As carefully put by analysts, the demand for such stock "is driven by forces beyond fundamental factors". Well, let's put it bluntly: by investors' greed and hope to hit the "next big thing".
On the political front, yesterday's Dem debate in Las Vegas was so heated that somebody edited Bloomberg's Wikipedia profile with a dark joke that he died on February 19, with the cause of death indicated as "Senator Elizabeth Warren". Overall though, I don't think the debate radically changed their respective standings in the race. That said, the three most probable candidates (Sanders, Biden and Bloomberg) are all pushing eighty and have health problems, which make them vulnerable to Trump's attacks, who is, of course, the same age, but has the advantage of already sitting in the White House. That should support the stock market actually, which is in apparent approval of Trump's presidency.
Good luck and trade carefully,
ELP team

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