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Paper ballot stories continue to get more exciting. It is clear 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 at the polls and people will understand the process. I offered my perspective on our voting process last Tuesday night in a Zoom webinar. Some people had trouble logging in or missed the webinar, so I have a recorded version available. You can watch it here.
I will be doing a fifth video webinar about mobile voting and paper ballot issues for Founders Hall on Monday, October 19 and for Ridgefield Men’s Club on Wednesday, November 4, 2020.
Wall Street and the MAGFA Stocks
Other than 1% dips by Boeing and Uber, everything was up. The MAGFA index, is now at 25.3% of the S&P 500. The five companies maintained their market values, still spectacularly high, but nothing goes straight up forever. The techs are strong even though under pressure from both political parties who are picking on them and preparing legislation. I cannot see how breaking them up could be done successfully.
| John’s MAGFA Market Cap (10/09/20 4:00pm ET) | |||||
| Closing | Market Cap | Last | Change in | % | |
| Price | Trillions | Week | Billions | Change | |
| Microsoft | $216 | $1.6 | $1.6 | $63 | 4% |
| Apple | $117 | $2.0 | $1.9 | $100 | 5% |
| $1,515 | $1.0 | $1.0 | $30 | 3% | |
| $264 | $0.8 | $0.7 | $53 | 8% | |
| Amazon | $3,287 | $1.6 | $1.6 | $46 | 3% |
| Total | $7.1 | $6.8 | $292 | 4% | |
S&P 500 9/30/2020 | $27.9 | ||||
| MAGFA/S&P 500 | 25.3% | 24.3% | 4% | ||
| Bitcoin | $11,044 | $204.6 | $194.0 | $11 | 5% |
| Boeing | $167 | $94 | $95 | -$1 | -1% |
| Royal Caribbean | $71 | $15 | $14 | $1 | 9% |
| Tesla | $434 | $404 | $390 | $14 | 4% |
| Uber | $37 | $65 | $66 | -$1 | -1% |
| Zoom | $492 | $140 | $138 | $2 | 1% |
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.