The major indices have been trading significantly higher due to a broad-based rally on Wall Street. Yet another positive vaccine-related announcement fueled the global push to new recovery highs, this time from Russia, and domestic stocks joined the party, with the Dow leading the way higher and topping the historic 30,000 level for the first time ever. President Trump reportedly has ordered its team to begin the transition process with Joe Biden’s campaign, with a two-week delay, which gave an additional boost to U.S. assets. While equities are nearing their all-time highs, the U.S. COVID trends remain worrisome, with the number of hospitalizations hitting record highs, and the number of deaths also getting close to the uninviting spring figures.
Stock Pick Summary:
With our portfolio returns exceeding all expectations, we can still afford to invest aggressively and take risks. Today, we add a monitoring and analytics platform provider in the Cloud. We expect its earnings to continue to grow 40% annually. It is playing a key role in providing essential cloud infrastructure services for mid-size companies which are experiencing expansion due to the pandemic's emphasis on telework. While the stock has been pushed lower after a prolific run, we expect the service need will increase as more companies move all/part of their infra to cloud even beyond the pandemic.
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