On Tuesday evening the 14th, Bob Reby, CFP®, Founder and CEO of Reby Advisors, and I discussed Internet voting in a Zoom webinar hosted by the Ridgefield CT Library. In part, it related to my book, Election Attitude: How Internet Voting Leads to a Stronger Democracy. I pledged to donate 100% of the proceeds from the sale of any of my books this week to the Library. At the beginning of the webinar, the Library posed the question, “Do you believe mobile voting can strengthen our Democracy?”. The vote outcome was 78% said Yes. The audience was asked again at the end and the vote was 87% Yes. Great audience!
On Thursday evening, Mark Zuckerberg, CEO at Facebook, interviewed Dr. Anthony Fauci. They discussed the status, how to reset, importance of masks, a plead for young people to take more social responsibility, therapeutics, and vaccine development. It was a full 55 minutes of real content, which is hard to get on any news channel. I recommend watching it. You can watch the video here.
I thought I would present the MAGFA idea of tracking the market value of five top tech companies maybe a couple of times. But, I have gotten hooked on it myself because the values of these companies continues to amaze. In addition to what I call the MAGFA stocks, I follow a handful of other stocks I think represent some key trends. Today I tried to improve the MAGFA spreadsheet look. If anyone likes or dislikes this section of the news, please let me know.
As of Friday’s close, market value of all the stocks I have been reporting on declined except for Apple and Royal Caribbean. Apple seems headed for the moon. I believe the cruise lines are up because there is hope of a vaccine sooner rather than later. Amazon had the largest decline, but it is still in the stratosphere. Likewise for Zoom and Tesla. Uber is stable but I think investors are waiting to see if people return to ride sharing. In the meantime the food delivery business is booming.
The five giant tech company market caps still represent 25% of the market cap of the U.S. S&P 500. Mind boggling. Congress is on their trail and hearings will start very soon.
Note: My father gave me the following investment advice many years ago, “Don’t give any, and don’t take any.” Wise man. I am not recommending buying or selling any of the stocks, startups, crypto, or indexes I write about.