COVID-19 UPDATE: F-CAT plateauing = good. Retail investor grown in 2020, but $1.5T in retail cash still on sidelines.

In the past week, COVID-19 US daily cases surged to record highs and are now averaging about 500,000 per week.  Equity markets rallied this week and are near cycle highs of early June (~3,220 on S&P 500).  Yet, in early June, daily US cases were about 18,000 per day and today this figure is about to surpass 70,000, or a nearly 4X increase.  And this surge has caused states to pause and even rollback easing of the economy.  I can think of three reasons equity markets have...

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