“Don’t tell me it can’t be done. Show me how it can.” – Plaque in the office of the late House Speaker Jim Wright (1922-2015)

“If you’ve got a business, you didn’t build that. Somebody else made that happen.” — Former President Barack Obama

Did Apple become the first U.S. company to reach $2 trillion in market value today, about the same size as Brazil’s 8th largest economy? Yep.

Are the NYSE, NASDAQ and benchmark S&P 500 outperforming the Covid-19 impaired economy? Indeed.

Are share prices leading or lagging indicators? Leading.

There are those with oodles of stats of Covid-19 induced misery to share, and yet investors –including Generation Y and Z Robinhood and Baby Boomer Charles Schwab retail traders — are focused on the future, not the present.

It’s the vaccine stupid (ITVS).

Who will be the first to the vaccine finish line: AstraZeneca? Johnson & Johnson? Moderna? Did you note these are all publicly traded companies, not the public sector? The private sector is researching and developing the vaccine. The public sector (e.g., FDA) will approve the cure.

Will we pay subservient homage to the government or will we salute the publicly traded innovators with ticker symbols?

Almost DailyBrett has detected two dueling mentalities: One consumed with virus statistics: How the sky is falling and how many more restrictions our ever expanding government can impose upon its subjects. Their cups are ever half empty, knowing that “science” will never give the unanimous Corona virus all-clear sign.

The other libertarian and neo-liberal mindset is confidently looking to private sector innovation, developing a winning vaccine and a real solution rendering these Covid-19 statistics irrelevant. Their cups are always half full. And they don’t mind if these companies and their thousands of employees make a healthy profit in delivering a product (e.g., vaccine) that virtually everyone wants and needs.

Who is buying low and looking to sell high? The aforementioned retail investors, the huge retirement funds (i.e., PERS, STRS), the “buy side” mutual fund managers, and the “sell side” brokerage houses. The short answer is America’s investor class, which comprise approximately 55 percent of the nation.

The End of Buy Low Sell High?

“The problem with socialism is that you eventually run out of other people’s money.” — Former UK Prime Minister Margaret Thatcher

“It’s way past time we put an end to the era of shareholder capitalism.” — Former Vice President Joe Biden, July 9, 2020

Do we want to kill the goose laying golden eggs for more than half of the country, including literally thousands of younger investors (e.g., Robinhood)? Do we really want the “era” to come to an end? What’s next for the taxing class?

Is “shareholder capitalism” leading to the breakthrough vaccine, putting an eventual end to Covid-19? Do we want to terminate the system, which is the source of virtually all innovation (e.g., publicly traded technology and biotech companies) in this country?

Which is the greater sin? Being a shareholder? Believing in Buy Low Sell High?

How about: None of the above.

Why can’t Joe Biden be on the side of middle-class investors, particularly those putting their discretionary dollars to work for a better tomorrow? How about the old saying: “Capital goes where capital is rewarded”?

Is capital rewarded or simply consumed and redistributed by an ever-expanding trickle-down government?

Almost DailyBrett and others contend in the face of rapidly growing markets there is no other place to invest discretionary dollars. Considering the alternatives (i.e., microscopic bond yields and near zero bank interest accounts), active investors are building wealth in markets guided by the prospect of the coming vaccine.

The pessimists point to Covid-19 stats. Optimists point to the vaccine.

It’s the vaccine stupid.

https://www.cnbc.com/2020/07/09/biden-says-investors-dont-need-me-calls-for-end-of-era-of-shareholder-capitalism.html

https://fortune.com/2020/07/09/joe-biden-speech-shareholder-capitalism-economic-plan-american-manufacturing-jobs-build-back-better/

https://www.worldometers.info/gdp/gdp-by-country/

https://robinhood.com/us/en/