MM 11 November 2020

 Quotes 

Today we celebrate those who fought and sacrificed their lives for our freedom

On the paradox of freedom

Eisenhower the manager

Focus on the process and stop worrying about the results

Focus on the important over the urgent

Question everything

Prepare for the unexpected

Have the right mindset

Markets & Macro news

Although, Covid hospitalization numbers reach critical levels, news of vaccine continues to drive switch out of Covid winners and back into Covid losers

Rotation, rotation

Sell your long duration low yielding bonds

Nasdaq looking toppish too

Short are having a go at bubble names like Zoom and Peloton amongst other

Signs of complacency

    

Some smart investors involved in post Covid relief stocks are taking protection

Important technical resistance levels being tested

    USD weakness indicated by yield differential

Also reason why commodities vs SPX (or value vs growth) is the trade of the day

Indeed, China still feeling strong

Will active investors regain ground with the return of value and volatility?

Themes, Sectors & Corporate news

Some private equity firms are bargain hunting

Meanwhile, some secular trends will continue with our without Covid (see McDonald’s advertising spend shift)

Demographics is destiny… especially for baby food makers

See the organic trends for two of the world’s leading baby food makers (Danone and Reckitt’s Mead Johnson-MJN)