Ballot Fiasco Continues
As we approach November, the paper ballot stories will get more and more exciting, to put it mildly. It is clear to me the votes will not all be counted by midnight on November 3. It may take weeks, and possibly longer based on legal challenges. I am hoping things will be orderly and people will understand the process. Facebook is doing a good job to provide education. Mark Zuckerberg and his wife have personally donated $300 million to the States to help them prepare.
I will be doing a third webinar about mobile voting and will be discussing paper ballot issues. The webinar will be in at 7pm on Wednesday, September 30, 2020. The Zoom event will be hosted by Danbury Library and you can sign up here.
Wall Street and the MAGFA Stocks
It was an interesting week for my MAGFA index, now at a 27% share of the S&P 500. The five companies lost $214 billion of value, still spectacularly high, but nothing goes straight up forever. Zoom was the star for the week after showing quadruple last year’s revenue for the quarter. The market value zoomed 23% to $104 billion.
| John’s MAGFA Market Cap (09/04/20 4:00pm ET) | |||||
| Closing | Market Cap | Last | Change in | % | |
| Price | Trillions | Week | Billions | Change | |
| Microsoft | $214 | $1.6 | $1.7 | -$132 | -8% |
| Apple | $121 | $2.1 | $2.1 | -$35 | -2% |
| $1,591 | $1.1 | $1.1 | -$16 | -1% | |
| $283 | $0.8 | $0.8 | -$27 | -3% | |
| Amazon | $3,295 | $1.7 | $1.7 | -$4 | 0% |
| Total | $7.3 | $7.5 | -$214 | -3% | |
S&P 500 7/31/2020 | $27.1 | $27.1 | |||
| MAGFA/S&P 500 | 27.0% | 27.8% | -3% | ||
| Bitcoin | $10,608 | $196.2 | $212.8 | -$16,648 | -8% |
| Boeing | $171 | $97 | $99 | -$2 | -2% |
| Royal Caribbean | $72 | $15 | $15 | $0 | 0% |
| Tesla | $418 | $390 | $413 | -$23 | -5% |
| Uber | $33 | $59 | $59 | $0 | 0% |
| Zoom | $370 | $104 | $84 | $20 | 23% |
Note: These five stocks and Bitcoin are in billions not trillions | |||||
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.