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COVID-19 UPDATE: Stocks still a solid risk/reward beyond just Fed "put". Daily cases up vs 7D ago, but still too early to conclude this is a new wave

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STRATEGY: 4 reasons stocks still can go up ALOT.  Millennials + global labor shortage as important as Fed + fiscal policyWe have done a number of calls this week and two things seem to come up in each discussion.  These are fairly intuitive, but clearly on top of investor minds:- First, whether markets have seen their highs for the year, given the upcoming headwinds of 2020 election uncertainty and heightened risk of second COVID-19 wave from the flu season.- Second, where is the best risk/reward trade between now and year-endForemost, I think it is perfectly reasonable for any investor to be extremely skeptical about equities in 2020.  After all, we are in the midst of the worst Depression in 5 lifetimes, exceeding the Great Depression.  The world is dealing with the worst pandemic in 100 years, or at least 50 years (since 1967).  And the policy steps take to battle this tragedy have long term consequences.  And add in widening divisiveness in the US between Baby Boomers and Millennials, arguably even wider chasm than the growing divide between Conservatives and Liberals, and one sees why the "future is very very uncertain and scary."But I learned a long time ago that the stock ma...

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