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  • Wise declined to disclose how much of Buzz Media Portnoy owns, but insisted that Portnoy was simply a catalyst for a conversation. “He’s not here to direct people on what to invest in,” Wise said. “When Dave says he likes Shopify, a whole lot of people start talking about it. The community may agree or disagree. Are they still talking about it two weeks later? We’re measuring whether it’s still an ongoing topic. Just because Dave says, ‘I like Shopify,’ it doesn’t mean it’s going in the index.”
  • For some ETF watchers, that is problematic: “We have the owner of an index company hyping an index who is himself the subject of the index,” said Dave Nadig, director of research at ETF Trends. “The point of the index is to find stocks who are hyped, but Portnoy is the one who is hyping the stocks. He is the subject of his own methodology.”
  • Wise says the index’s focus on stocks with a market capitalization of more than $5 billion helps reduce the chances that stocks in the index could be manipulated. “The market cap size and volume of discussions taking place around these companies makes them difficult targets for manipulation by any bad actors,” a FAQ sheet provided by Van Eck states.
  • “This shows that sentiment momentum has outperformed price momentum and market cap momentum” in the last five years, Wise said.
  • BUZZ vs. Momentum (since inception: 12/18/15)BUZZ index:                    up 215%Momentum ETF (MTUM) up 119%S&P 500:                        up 113% Source: Buzz Holdings
  • Initially, the largest holdings include Twitter, DraftKings, Ford, American Airlines, and Facebook. Tesla is number 10. The $5 billion minimum market cap criteria would exclude Reddit names like Gamestop, Express or AMC Entertainment from the mix.Wise says the stocks in the index are proof they are not chasing the latest Reddit craze. “These are not the kind of stocks that are being promoted by celebrities,” Wise said. “These are everyday stocks being promoted by people with a wide variety of viewpoints, and is not focused on a narrow group of Reddit names.”
  • “This is not a Reddit meme stock ETF,” said Jamie Wise, CEO of Buzz Holdings and the originator of the index. “This is about the broader conversation around stocks mentioned on social media platforms. We are using broad social media sources, principally Twitter and StockTwits.” Wise said it also uses Yahoo Finance, Benzinga and Reddit.
  • The ETF is based on the Buzz NextGen AI U.S. Sentiment Leaders Index. What goes in the index is based on an initial list of stocks that meet two criteria: those with a $5 billion minimum market capitalization and getting consistent and diverse mentions on social media over the past year. The 250-350 stocks that meet that initial criteria are ranked each month from highest sentiment to lowest, with the top 75 going in the index.
  • The Van Eck Vectors Social Sentiment ETF (BUZZ) selects 75 stocks with the most bullish social media sentiment and packages them into an ETF.  
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  • In recent years, Black celebrities in sports and entertainment — like former NBA star Ron Artest, radio personality Charlamagne Tha God and actress Taraji P. Henson — started openly advocating for the importance of mental health screening and support.
  • Can't you refer me to a Black psychiatrist?' And because there are so few of us, I'm limited in how many of those people's referrals I can make to their satisfaction,"
  • "I do think changing the workforce and changing the face of the workforce is probably the most critical thing that we can do now to start to address some of these issues," Shim says.
  • For many Black patients, access to mental health treatment often comes in places of last resort: Jails, schools, emergency rooms
  • ' we misdiagnose young people with things like 'conduct disorder' instead of the result of chronic trauma from racism," because many physicians haven't experienced it, Shim says
  • Misdiagnosis of Black people, Shim says, is still prevalent today — often by non-Black doctors who misread emotional cues like anger.
  • The need for mental health support, in other words, is great.
  • She worries most about Black girls, for whom suicide risk is increasing — not just among teenagers, but among preteens as well.
  • "We haven't been asked to publicly bear our pain as frequently as we are now, and we haven't had to witness other Black folks publicly baring their pain about it as frequently as we are now
  • Meanwhile, the economic barriers to accessing mental health care have only increased.
  • The need for mental health support is more evident than ever, especially among Black Americans, say people who study and experience the burden of racism
  • "Finding a Black therapist really saved me some time, and there was more connection, in terms of the kinds of struggles that I might feel or the the kinds of ways I might think about certain scenarios," Koerber say
  • 'Bear Our Pain': The Plea For More Black Mental Health Workers
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  • He further added the financial strains are another source of anxiety for many, and while his counseling center will aim to assist patients in whatever way they can, therapists also need to be compensated in order continue their work.
  • Local groups such as the Community Presbyterian Counseling Center (CPCC) and Discovery Counseling Center of the San Ramon Valley, for example, provide extensive teletherapy services for patients. Brent Robery, clinical director at the Community Presbyterian Counseling Center, now utilizes video teleconferencing for therapy sessions, a move many mental health professionals have taken due to the coronavirus pandemic. (Photo by Ryan J. Degan) "There have been studies done (on therapy sessions) that telehealth therapy is just as effective as in-person therapy," Brent Robery, director of the CPCC, told the Weekly. "Some therapists since the shelter in place have gone exclusively to (teletherapy)." Depending on the mental health situation a patient is dealing with, teleconferencing is not necessarily right for everyone; however, Robery explained that teletherapy still offers patients a beneficial, and socially-distancing conscious, experience. "It is different. For example, you're not in the same room with each other so you might not be able to see some physical responses. However, there is also the opportunity that if you are not in the same room as each other; people have the ability to feel more open because they are not feeling judged," he said. Robery explained that while at first patients and even many therapists were hesitant to try telehealth, recently individuals have become more receptive to the idea. In fact, after first seeing a drastic drop in referrals, over the past couple of weeks more and more patients have begun seeking out therapy and counsel
  • he has also documented increased feelings of isolation, depression and anxiety, as well as abuse among individuals.
  • Depending on the mental health situation a patient is dealing with, teleconferencing is not necessarily right for everyone; however, Robery explained that teletherapy still offers patients a beneficial, and socially-distancing conscious, experience
  • Any patients worried about access to prescribed medications are also encouraged to ask their health care providers about getting 90-day supplies as opposed to a 60- or 30-day supply
  • In some cases certain patients have been required to shelter-in-place with their abuser. "A concern that is a very clear interest to me is the person's mental health," he added. "One of the things that I am very concerned about at this time is the suicidal patient, the patient that is isolated and alone, the patient who is not available and able to access community resources, perhaps because they are older and shut in and they don't know how to access care." Kostalnick encouraged county health officials to take these issues into account when crafting policies related to the shelter-in-place order and to consider the full health of a resident, both physical and mental. "In my view, (for coronavirus coverage) there's been very rare occasions that I've seen any reference to mental health, especially in the news and media," he said. When it comes to the practicality of meeting with patients, while he does provide telehealth services for patients who are comfortable with meeting online, Kostalnick is still able to meet with patients in-person as an essential business but he did implement certain safety precautions outlined by the U.S. Centers for Disease Control and Prevention
  • "One of the things that I am very concerned about at this time is the suicidal patient, the patient that is isolated and alone, the patient who is not available and able to access community resources, perhaps because they are older and shut in and they don't know how to access care.
  • According to Kostalnick, as a result of the pandemic and subsequent isolating shelter-in-place order, many patients have had recurring feelings of depression and anxiet
  • isolation and depression have become commonplace due to the ongoing coronavirus pandemic, and local mental health professionals want residents who are experiencing these issues to know that they are not alone and help is available.
  • News Staying Healthy: Mental health care during lockdown
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  • The shopping center operator is up 3.1% after reporting a breakeven quarter, compared to forecasts of a 2 cents per share loss, while revenue beat estimates as well. Tanger saw an increase in foot traffic during the quarter, although lower occupancy rates continue to weigh on revenue.
  • Tesla cut prices for the cheaper versions of its Model 3 and Model Y vehicles, although it raised prices for upper-end variants. Shares are down 2% premarket.
  • Sleep Number shares are surging 12.7% premarket after it reported quarterly earnings of $2.19 per share, beating the consensus estimate of $1.45, with the mattress retailer’s revenue also exceeding estimates. Sleep Number also issued upbeat full-year guidance.
  • Marriott bucked recent trends by hotel chains by beating Street estimates, earning an adjusted 12 cents per share for its latest quarter compared to an 11 cent consensus estimate. Revenue did miss forecasts as the company continues to be impacted by the pandemic.
  • The food producer’s stock is up 2.2% premarket after earnings matched estimates at 41 cents per share and revenue beat Wall Street forecasts. Hormel also said it is increasingly optimistic about full-year sales and earnings growth.
  • Walmart reported adjusted quarterly earnings of $1.39 per share, which includes a 7-cent impact from UK tax repayment. The consensus estimate had been $1.50. Revenue did beat forecasts, and US comparable sales excluding fuel were up 8.6% compared to the 5.8% FactSet estimate. The retailer’s shares are down 5% premarket.
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  • “Given several findings that Robinhood violated rules governing broker-dealers and lacked systems to ensure their compliance with those rules, the public deserves to understand what steps FINRA has taken to ensure future compliance by Robinhood, whether Robinhood improved its systems and compliance in response to the many complaints filed by regulators and lawmakers, and whether continued violations of market rules may have contributed to the company’s role in recent market swings,” Warren wrote to Robert Cook, FINRA President and CEO, in her 12-page letter.
  • Warren asked FINRA, which licenses and regulates broker deals, to conduct a review into whether Robinhood’s practices were in compliance with existing laws and regulations governing broker-dealers.
  • “The payment for order flow model raises questions about inherent conflicts of interest and whether broker-dealers like Robinhood and market makers like Citadel Securities profit from rapid trading and market churn that has no relationship to the underlying values of the company stocks that are being traded or the profits of individual investors: it is instead a business practice in which ‘[t]he more shares they see, the more bread crumbs they take,’” wrote Senator Warren.
  • Warren also asked Griffin about the controversial, yet legal way that Robinhood and other brokers make money through trades despite dropping commissions: payment for order flow. Robinhood and other brokers are large beneficiaries of this revenue model and receive payments from market makers like Citadel Securities.
  • In a letter sent Thursday, Warren said she is particularly interested in the potential conflict of interest between the hedge fund side of Citadel, which invested $2 billion in short-selling firm Melvin Capital for its GameStop losses, and Citadel Securities, a practitioner of “payment for order flow” for Robinhood.
  • Sen. Elizabeth Warren (D-Mass.) is pressuring Citadel CEO Ken Griffin about the financial giant’s relationship with Robinhood, how Citadel benefits from their relationship and how to protect retail investors.
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  • advertisement googletag.cmd.push(function() { deployads.push(function() { deployads.gpt.display("adslot-mobile-bottom-rectangle") }); }); "The COVID-19 pandemic has caused tremendous social and economic damage. Governments must seize the opportunity to reduce health risks from infectious diseases by taking decisive action to mitigate climate change," said Professor Andrea Manica in the University of Cambridge's Department of Zoology, who was involved in the study. "The fact that climate change can accelerate the transmission of wildlife pathogens to humans should be an urgent wake-up call to reduce global emissions," added Professor Camilo Mora at the University of Hawai'i at Manoa, who initiated the project.
  • Most coronaviruses carried by bats cannot jump into humans. But several coronaviruses known to infect humans are very likely to have originated in bats, including three that can cause human fatalities: Middle East Respiratory Syndrome (MERS) CoV, and Severe Acute Respiratory Syndrome (SARS) CoV-1 and CoV-2.
  • advertisement googletag.cmd.push(function() { deployads.push(function() { deployads.gpt.display("adslot-mobile-middle-rectangle") }); }); "As climate change altered habitats, species left some areas and moved into others -- taking their viruses with them. This not only altered the regions where viruses are present, but most likely allowed for new interactions between animals and viruses, causing more harmful viruses to be transmitted or evolve," said Beyer.
  • "Climate change over the last century has made the habitat in the southern Chinese Yunnan province suitable for more bat species," said Dr Robert Beyer, a researcher in the University of Cambridge's Department of Zoology and first author of the study, who has recently taken up a European research fellowship at the Potsdam Institute for Climate Impact Research, Germany. He added: "Understanding how the global distribution of bat species has shifted as a result of climate change may be an important step in reconstructing the origin of the COVID-19 outbreak."
  • The study has revealed large-scale changes in the type of vegetation in the southern Chinese Yunnan province, and adjacent regions in Myanmar and Laos, over the last century. Climatic changes including increases in temperature, sunlight, and atmospheric carbon dioxide -- which affect the growth of plants and trees -- have changed natural habitats from tropical shrubland to tropical savannah and deciduous woodland. This created a suitable environment for many bat species that predominantly live in forests.
  • Global greenhouse gas emissions over the last century have made southern China a hotspot for bat-borne coronaviruses, by driving growth of forest habitat favoured by bats.
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  • “We don’t have the social contract we need,” he noted. “It’s much harder to be successful in America because we don’t believe everyone deserves things such as health insurance, jobs that pay a living wage and sick leave.
  • warned that the country’s inability to address these issues and build an adequate safety net is also now complicating the effort to control the coronavirus.
  • the Trump administration has been working since 2017 to roll back the rules under pressure from the food industry.
  • Meanwhile, even small efforts to tackle public health challenges like removing sodas and junk food from school vending machines have proved to be monumental tasks requiring years of advocacy
  • The roots of these imbalances run deep in American healthcare, dating back to efforts by physicians in the early 20th century to maintain control of medical care against a rising public health movement championed by government reformers.
  • Other wealthy nations invest up to twice as much on primary-care services and have substantially lower overall healthcare spending
  • “If there is a new medicine, there is just an assumption that it will get paid for, no matter the cost. But every public health policy requires a cost-benefit analysis that must show it not only improves health but saves money.”
  • America spends more than $237 billion a year on medical care for people with diabetes, for example, much of it to control a disease that can be prevented or mana
  • “It must be done by people working together on behalf of themselves and others. In a fiercely independent culture, that is very hard to undertake.”
  • “Public health is a quintessential public action
  • Similarly, the long-standing American resistance to public health measures hampers efforts to restrain diabetes, heart disease and other chronic illnesses that are driving hundreds of billions of dollars of medical spending.
  • his impulse to look for the latest and greatest medical intervention reflects a strong tradition in American healthcare that has long put a premium on new drugs, bigger medical systems and more technology, often at the expense of public health initiatives that other nations have shown to be more effective at lower cost.
  • It’s not just coronavirus: America repeatedly fails at public health
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  • "How far these deletions erode protection is yet to be determined," McCarthy said. "At some point, we're going to have to start reformulating vaccines, or at least entertain that idea." Additional authors on the study include Linda Rennick, Ph.D., Sham Nambulli, Ph.D., of Pitt; Lindsey Robinson-McCarthy, Ph.D., formally Harvard Medical School and now working as a virologist at UPMC Hillman Cancer Center; and William Bain, M.D., and Ghady Haidar, M.D., of Pitt and UPMC.
  • advertisement googletag.cmd.push(function() { deployads.push(function() { deployads.gpt.display("adslot-mobile-bottom-rectangle") }); }); "Going after the virus in multiple different ways is how we beat the shapeshifter," Duprex said. "Combinations of different antibodies, combinations of nanobodies with antibodies, different types of vaccines. If there's a crisis, we'll want to have those backups."
  • Among the sequences McCarthy identified as having these deletions was the so-called "U.K. variant" -- or to use its proper name, B.1.1.7. By this point, it was October 2020, and B.1.1.7 hadn't taken off yet. In fact, it didn't even have a name, but it was there in the datasets. The strain was still emerging, and no one knew then the significance that it would come to have. But McCarthy's analysis caught it in advance by looking for patterns in the genetic sequence.
  • "Evolution was repeating itself," said McCarthy, who recently started up a structural virology lab at Pitt's Center for Vaccine Research. "By looking at this pattern, we could forecast. If it happened a few times, it was likely to happen again."
  • Duprex's group first came across these neutralization-resistant deletions in a sample from an immunocompromised patient, who was infected with SARS-CoV-2 for 74 days before ultimately dying from COVID-19. That's a long time for the virus and immune system to play "cat and mouse," and gives ample opportunity to initiate the coevolutionary dance that results in these worrisome mutations in the viral genome that are occurring all over the world. Then, Duprex enlisted the help of lead author Kevin McCarthy, Ph.D., assistant professor of molecular biology and molecular genetics at Pitt and an expert on influenza virus -- a master of immune evasion -- to see whether the deletions present in the viral sequences of this one patient might be part of a larger trend.
  • "You can't fix what's not there," said study senior author Paul Duprex, Ph.D., director of the Center for Vaccine Research at the University of Pittsburgh. "Once it's gone, it's gone, and if it's gone in an important part of the virus that the antibody 'sees,' then it's gone for good."
  • In a recurring pattern of evolution, SARS-CoV-2 evades immune responses by selectively deleting small bits of its genetic sequence, according to new research from the University of Pittsburgh School of Medicine.
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  • Still, local banking regulators in provinces including Zhejiang and Hunan are urging banks that have relied heavily on Ant for client referrals and lending growth to cut back, said the people.“While the restructuring would bring Ant a step closer to relaunching its IPO, all its units face more restrictions on capital, leverage and product pricing, risking growth,” said Chan, who estimated Ant’s valuation may have fallen to below $108 billion from a $280 billion pre-money valuation ahead of its failed IPO.
  • Liang Tao, vice chairman of the China Banking and Insurance Regulatory Commission, said last month recent measures weren’t aimed at any specific company and have been well received by some in the industry. Some of the firms have a “relatively positive attitude” toward the new requirements and have achieved “initial effects” in their “rectification” efforts, he said.
  • Among the hardest-hitting for Ant was the proposal to impose additional capital requirements on microlenders and demand that fintech platforms put up at least 30% of the funding for loans that are jointly offered with banks. Before the proposal, only about 2% of the more than 1.7 trillion yuan ($263 billion) in loans remained on Ant’s balance sheet, with the bulk of funding coming from its about 100 bank partners.
  • Consumer credit has been crucial in driving growth at Ant’s digital finance business, which contributed 63% of the firm’s revenue in the first half of 2020 before the authorities unleashed a barrage of rules to curb the country’s booming financial technology industry. Regulators also want to prevent any one firm from becoming too dominant.
  • The moves have taken place in parallel with Ant’s discussions with Chinese authorities on a restructuring plan. Bloomberg reported on Wednesday that Ant has agreed to become a financial holding company, making it subject to capital requirements similar to those for banks.
  • Ant Group Co. and at least a dozen banks are paring back their years-long cooperation on consumer lending platforms that fuel the spending of at least 500 million people across China
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  • Nokia and its business are exposed to a number of risks and uncertainties which include but are not limited to:Competitive intensity, which is particularly impacting Mobile Networks and is expected to continue at a high level in full year 2021, as some competitors seek to take share in the early stages of 5G;Our ability to accelerate our product roadmaps and cost competitiveness through additional 5G investments in full year 2021, thereby enabling us to drive product cost reductions and maintain the necessary scale to be competitive;Some customers are reassessing their vendors in light of security concerns, creating near-term pressure to invest in order to secure long-term benefits;Developments in North America following the conclusion of the C-band auction, including the potential for temporary capital expenditure constraints or the acceleration of 5G deployments;Customer demand could weaken and risk could increase further in India, after the country’s Supreme Court upheld a ruling that telecoms companies must pay retroactive license and spectrum fees;Potential risks and uncertainties related to the scope and duration of the COVID-19 impact and the pace and shape of the economic recovery following the pandemic;Our ability to procure certain standard components;The timing of completions and acceptances of certain projects;Our product and regional mix;Macroeconomic, industry and competitive dynamics;The timing and value of new and existing patent licensing agreements with smartphone vendors, automotive companies and consumer electronics companies;Results in brand and technology licensing; costs to protect and enforce our intellectual property rights; and the regulatory landscape for patent licensing;as well as the risk factors specified under “Forward-looking Statements” of this release, and our 2019 annual report on Form 20-F published on March 5, 2020 under "Operating and financial review and prospects-Risk factors" as supplemented by the form 6-K published on April 30, 2020 under the header “Risk Factors”.
  • OUTLOOK ASSUMPTIONSIn full year 2021, we expect our net sales, adjusted for currency fluctuations, to be affected by:A significant decline in Mobile Networks, due to not converting all of its 4G footprint into 5G footprint in North America in 2020, as well as price erosion in North America (new);Net sales growth, primarily in Network Infrastructure and Nokia Technologies (new);Mobile Networks is expected to deliver comparable operating margin of around zero percent in full year 2021, and significant improvement over the longer term;Network Infrastructure is expected to deliver comparable operating margin in the high single digit range in full year 2021, and gradual improvement over the longer term;Cloud & Network Services is expected to deliver comparable operating margin in the mid-single digit range in full year 2021, and significant improvement over the longer term;Nokia Technologies is expected to deliver a slight improvement in comparable operating profit in full year 2021, relative to full year 2020, and stable performance over the longer term;Group Common and Other is expected to deliver a comparable operating loss of approximately EUR 200 million in full year 2021, and stable performance over the longer term;In full year 2021, Nokia expects the free cash flow performance of Nokia Technologies to be approximately EUR 600 million lower than its operating profit, primarily due to prepayments we received from certain licensees;Comparable financial income and expenses are expected to be an expense of approximately EUR 250 million in full year 2021 and over the longer-term (new);Comparable income tax expenses are expected to be approximately EUR 450 million in full year 2021 and over the longer-term, subject to regional profit mix, net sales subject to withholding tax and the timing of patent licensing cash flow (new);Cash outflows related to income taxes are expected to be approximately EUR 350 million in full year 2021 and over the longer term until our US or Finnish deferred tax assets are fully utilized (new);Capital expenditures are expected to be approximately EUR 700 million in full year 2021 and EUR 600 million over the longer-term (new); andRule of thumb related to currency fluctuations: Assuming our current mix of net sales and total costs (refer to Note 1, “Basis of Preparation” in the “Financial statement information” section for details in Nokia Corporation Financial Report for Q4 and full year 2020), we expect that a 10% increase in the EUR/USD exchange rate would have an impact of approximately negative 4 to 5% on net sales and an approximately neutral impact on operating profit (new).
  • Naturally, Nokia’s first focus during the COVID-19 pandemic is to our employees. We have in place strict protocols for Nokia facilities and provided clear advice to our employees about how they can mitigate the risks of COVID-19 in situations where they have to go about critical work. We have taken a range of steps, including banning international travel for Nokia employees, except for strictly-defined ‘critical’ reasons; closing all our facilities to all visitors, with the exception of people engaged in essential maintenance and services, and asking our staff to work from home wherever possible. We started implementing these measures in some regions already in January 2020 and have updated guidance as the situation has developed.As the overwhelming majority of Nokia employees continue working remotely, we are providing guidance on how staff can maintain a healthy work-life balance and look after their physical and mental well-being.
  • Beginning with the distribution for the financial year 2018, Nokia started paying dividends in quarterly instalments. On October 24, 2019, the Board resolved to pause dividend distributions, in order to: a) guarantee Nokia’s ability to increase 5G investments, b) continue investing in growth in strategic focus areas of enterprise and software and c) strengthen Nokia’s cash position. This was done in accordance with Nokia’s dividend policy, which states that dividend decisions are made taking into account Nokia’s cash position and expected cash flow generation.
  • COVID-19 resulted in a net sales impact of approximately EUR 200 million in full year 2020, with the majority of these net sales expected to be shifted to future periods, rather than being lost. In addition, we had a temporary benefit of approximately EUR 250 million due to lower travel and personnel expenses related to COVID-19.
  • Q4 2020 was the third quarter in a row of positive free cash flow. During Q4 2020, net cash increased by approximately EUR 0.6 billion, resulting in an end-of-quarter net cash balance of approximately EUR 2.5 billion. During Q4 2020, total cash increased by approximately EUR 0.4 billion, resulting in an end-of-quarter total cash balance of approximately EUR 8.1 billion. Strong cash performance in Q4 and full year 2020 benefited from an early customer payment of approximately EUR 0.5 billion, which was expected in Q1 2021.
  • Non-IFRS diluted EPS in Q4 2020 was EUR 0.14, compared to EUR 0.15 in Q4 2019, primarily due to lower operating profit, partially offset by a net positive fluctuation in financial income and expenses. In full year 2020, non-IFRS diluted EPS was EUR 0.26, compared to 0.22 in full year 2019.
  • In Q4 2020, our non-IFRS and reported operating profit performance was positively affected by approximately EUR 250 million from two significant drivers: a timing benefit, as we recognized net sales at the very end of the quarter, which we had expected in 2021, and a net positive fluctuation in Nokia’s venture fund investments. Our non-IFRS and reported diluted EPS benefited by approximately EUR 0.035 from these items.
  • Reported gross margin in Q4 2020 was 39.2%, compared to 38.5% in Q4 2019. Non-IFRS gross margin was 41.8%, compared to 40.0% in Q4 2019. The improvement in gross margin was primarily driven by Mobile Access, where strong 5G gross margin expansion was partially offset by a project-related loss provision. To a lesser extent, our Q4 2020 gross margin performance was affected by mix shifts, with a higher proportion of Group Common and Other, as well as a decline in Nokia Software. In full year 2020, reported gross margin was 37.6%, compared to 35.4% in full year 2019. Non-IFRS gross margin was 39.0%, compared to 36.5% in full year 2019.
  • In Q4 2020, reported net sales decreased 5%, primarily driven by lower net sales in Mobile Access, where a decline in network deployment and planning services was partially offset by growth in 5G radio access products. On a constant currency basis, Nokia net sales increased 1% in Q4 2020. In full year 2020, reported net sales decreased 6%, primarily due to network deployment and planning services in Mobile Access. In Nokia Enterprise, we continued to make great progress in full year 2020 and delivered 11% year-on-year growth in reported net sales. On a constant currency basis, Nokia net sales decreased 4% in full year 2020.
  • I want to conclude by thanking everyone at Nokia. This has been a year of incredible change where our personal resilience as well as technology has been tested like never before. I am extremely proud of our team, their commitment and their achievements. Thank you.
  • Regarding dividend, we are pleased with Nokia’s recent operational performance and satisfied that we have strengthened our cash position. However, with the focus on increased investments in 5G and strategic areas, while continuing to establish a track record of sustainable cash generation, the Board does not propose a dividend or dividend authorization for the financial year 2020. We intend to provide an update on our dividend policy latest at Capital Markets Day.
  • For full year 2020, they were up 11% in reported and 14% in constant currency, reflecting our leadership position in many areas, including in private wireless. We announced key partnerships with AT&T and Verizon for private wireless and won 79 new customers in Q4. We now have 260 private wireless customers. Public sector demand remains robust and we announced a US federal government cyber deal after the quarter end in mid-January.
  • 5G gross margin increased due to product cost reduction, partly helped by higher ReefShark shipment volumes. Our aim was to be above 35% for our KPI on shipments of our “5G Powered by ReefShark” portfolio; we ended the year at 43% and we remain on track to realize 70% by the end of 2021. This underlines the ongoing progress with our Mobile Networks turnaround and, as I said in Q3, we will invest whatever it takes to win in 5G. Completing the turnaround in Mobile Networks remains our top priority for 2021, and these visible signs of progress give me confidence that we are on the right track but there is still work to be done.
  • The healthy close to the year does not change our earlier communicated view for Nokia-level operating margin expected in 2021.Net sales for Q4 were down 5% on a reported basis and up 1% in constant currency and for full year 2020 they were down 6% on a reported basis and down 4% in constant currency.
  • Nokia delivered a solid Q4 to end 2020 at the high end of our Outlook range. We saw healthy gross margin and operating margin performance for both Q4 and full year 2020, supported by a regional mix shift towards the higher margin North America region and by our ongoing R&D efforts to enhance product quality and cost competitiveness.
  • This is a summary of the Nokia Corporation financial report for Q4 and full year 2020 published today. The complete financial report for Q4 and full year 2020 with tables is available at www.nokia.com/financials. Investors should not rely on summaries of our financial reports only, but should review the complete financial reports with tables.
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  • Through this website, users can create their own graphics and workspaces of any aspects of these transition scenarios, such as macro-economic development, changes in energy consumption, or the exploitation of energy resources. Users can also download the full dataset, or just those parts of the data that they need to work with.”
  • The overall goal is to provide tools for central banks and supervisors, policymakers, and financial actors, who aim to make finance greener and thus more sustainable – both for its own sake and for the sake of the planet
  • These arise for example from policy changes or technological development in the process of adjustment towards a low-carbon economy. Both risk types can heavily impact economies across the globe. But how precisely and under what conditions – that’s what our scenarios will help to illustrate and explore.”
  • Climate-related risks are very real to the global economy
  • The transition scenarios explore future changes to the energy system and the global economy if climate targets are met or not, and whether the transition to a low-carbon future happens in an orderly or disorderly fashion.
  • ScienceJune 24, 2020 11:14 pm AESTDate TimeShare New scenarios to help global finance go green(adsbygoogle = window.adsbygoogle || []).push({}); (adsbygoogle = window.adsbygoogle || []).push({});A key role of central banks is to strive for financial stability
  • ScienceJune 24, 2020 11:14 pm AESTDate TimeShare New scenarios to help global finance go green
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  • The changing environment amid the pandemic has led to a decline in global trade. Global trade is forecasted to decline between 13% and 32% in 2020, as per the U.S. Congressional Research Service depending on the depth and extent of economic downturn.
  • Regulatory changes mean that banks have to now charge more per transaction to clear their internal risk-adjusted return on capital employed thresholds. These changes have also tightened the high global recovery rates or low loss-given defaults being ascribed to many structured trade transactions like pre-payments, pre-export finance, thus making deals not lucrative at the current margins.
  • Many banks with no experience in the commodity finance business have entered the space lately and offered unsecured and cash-flow based medium- to long-term lending facilities
  • Commodity trade finance was considered as among the safest businesses for banks at one point in time
  • , has confessed to hiding about $800 million in losse
  • This decision by banks can be attributed to a certain set of micro and macro factors. “Key micro factors stems from the recent sizeable defaults by commodity traders in hubs such as Singapore, Dubai, and Switzerland, leading to a general collapse in confidence,
  • Commodity traders have been feeling the heat in the recent past on account of volatility in commodity prices compounded by reduced trade due to Covid-19
  • Banks have suffered losses to the tune of $9 billion from the $18 trillion commerce finance enterprise
  • Many banks are shedding jobs, restructuring or reducing their commodities business to cut risk.
  • Why Banks Are Exiting Trade And Commodity Finance
10 annotations
  • Initial unemployment claims totaled 900,000 for the week ended January 16, or better than the 935,000 and the prior week’s revised 926,000. The four-week moving average for new claims jumped by nearly 24,000 to 848,000 this week.Continuing claims, a measure of the total number of individuals still receiving regular state unemployment benefits, improved more than expected last week and have remained on a mostly steady downtrend since peaking at nearly 25 million in May. These totaled 5.054 million during the week ended January 9, beating estimates for 5.300 million expected and falling from a revised 5.181 million from the prior week.
  • Housing starts jumped 5.8% in December over November to a seasonally adjusted annual rate of 1.669 million, the Commerce Department said Thursday. This marked the highest level since 2006, and handily topped estimates for a rise of less than 1% to a 1.56 million rate, according to Bloomberg data. In November, housing starts had increased 3.1% month-over-month.Building permits, which indicate future homebuilding, unexpectedly spiked in December by 4.5%, reaching a seasonally adjusted annualized rate of 1.709 million. Consensus economists had expected a drop of 1.7% in permits, following November’s revised 5.9% monthly advance.
  • “We’re going to see not just bandaid stimulus which we’ve seen in the past, but real job creation stimulus,” Peter Tchir, head of macro strategy at Academy Securities, told Yahoo Finance. “And I don’t think we can underestimate the impact of Yellen. The market really started rallying [Tuesday] when Yellen was speaking ... I think she’s going to be very aggressive in her policies, she’s going to figure out more ways to work with the Fed, so I think there’s a lot of optimism on what she could do as well as part of this administration, assuming the confirmation goes fine.”
  • “I’ve actually been very surprised by how the market has really brushed aside all the political issues that we’ve had in the first three weeks of the year. I would have assumed coming into the year that had the Democrats swept the Senate, the House and won the presidency that the markets would have sold off on the back of a potential increase in the corporate tax rate in the future,” John Petrides, portfolio manager at Tocqueville Asset Management, told Yahoo Finance. “Clearly I think investors are focused on the short term and Biden’s go-big policy on fiscal stimulus, which is clearly much needed as the COVID cases continue to rip through the U.S.”
  • Stocks ticked up slightly Thursday morning, holding near the recent record levels.Each of the S&P 500, Dow and Nasdaq added slightly to their record closing highs, as traders looked ahead to the additional fiscal stimulus and other government spending likely to occur under President Joe Biden’s administration. Biden began his term on Wednesday by signing a number of executive orders to address the COVID-19 pandemic, enable environmental protection initiatives and roll back many of the Trump administration’s immigration policies, among other measures. He is also poised to sign additional executive orders on Thursday.
5 annotations
  • more emphasis for us on supporting that mental health and helping those kids feel like they’re supported, and it’s OK to have whatever anxiety and stress they’re feeling,
  • The Be You Wellness program will serve more than 200 youth and will address mental and chronic health challenges. Staff will go through a new training program and lead kids in different activities.
  • their youth, especially those in the Black community, to know they’re there to help. “COVID, normal life, plus the events of the last three weeks, month since George Floyd absolutely has put a lot more emphasis for us on supporting that mental health and helping those kids feel like they’re supported, and it’s OK to have whatever anxiety and stress they’re feeling,” said Placzkowski. Dymond Cummings, another member participating in the program, thinks it’s important that kids address these challenges early on, so they have a better chance at a brighter future. “They have really opened me up because I was a shy little girl at first, like I didn’t really talk to anybody, but over all the years they have really shaped me into a bigger and better person, taught me how to be a leader,” said Cummings. The program will run into 2021 and is supported by the Grand Rapids Police Department, Grand Rapids Public Schools, Grand Rapids Community College and Stockbridge Business Association. —– Online: Boys & Girls of Grand Rapids Youth Commonwealth Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Share this story AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to WhatsAppWhatsAppShare to SMSSMSShare to EmailEmailShare to MoreAddThis (function () { try { var event = new CustomEvent( "nsDfpSlotRendered", { detail: { id: 'acm-ad-tag-mr1_mobile-mr1_mobile' } } ); window.dispatchEvent(event); } catch (err) {} })(); Around the WebThe Best Kept Secret to an Itch Free DogItch Relief Chews - Petlab2015 Dodge Dart SXTISEECARSThe Real Reason They're Keeping Americans HomeStansberry ResearchPennsylvania: Why Are People in Brookhaven Snapping Up This $89 AC Unit?Blaux Personal ACRemoving Moles & Skin Tags Has Never Been This EasySkincell ProThe States Where Americans Don't Want To Live AnymoreMoneyWise.comThe Most Successful Attorneys in Brookhaven. See the ListFind Attorney | Sponsored4 Worst Blood Pressure Drugs Simple Blood Pressure Fix Pennsylvania: Gov't Will Pay $271/month off Your Mortgage if You Apply NowMortgage BenefitsThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view our Privacy Policy and your opt out options here.Got it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancel More Grand Rapids Stories 16th person charged in downtown Grand Rapids riot by WOODTV.com staff / Jul 1, 2020 GRAND RAPIDS, Mich. (WOOD) — Charges have been filed against another person in connection to the May 30 and May 31 riot in downtown Grand Rapids, prosecutors say. Kent County Prosecutor Chris Becker announced Wednesday that Howard Eugene Nall, 34, has been charged with one count of rioting, one count of malicious destruction of property and one count of breaking and entering. Read the Full Article (function () { try { var event = new CustomEvent( "nsDfpSlotRendered", { detail: { id: 'acm-ad-tag-leader_mr3-leader_mr3' } } ); window.dispatchEvent(event); } catch (err) {} })(); Goodbye, free parking: Grand Rapids resumes enforcement July 6 by Christa Ferguson / Jul 1, 2020 GRAND RAPIDS, Mich. (WOOD) — Drivers enjoying free parking at Grand Rapids meters: Your time is almost up. The city recently posted notices near meters warning drivers that parking enforcement will resume Monday. The message: “Pay your meter!” or get ready to pay for parking tickets. Read the Full Article COVID-19 limits ways you can cool down this summer by Whitney Burney / Jun 30, 2020 GRAND RAPIDS, Mich., (WOOD) — The city of Grand Rapids has limited options available for the public to cool down this year. County officials credit the COVID-19 pandemic. This summer, only two cooling centers are available to the public: Mel Trotter Ministries and Heartside Ministry in downtown Grand Rapids. Last year there were more than a dozen available. Read the Full Article .cls-1{fill:#fff;fill-rule:evenodd} Video (function () { try { var event = new CustomEvent( "nsDfpSlotRendered", { detail: { id: 'acm-ad-tag-leader_mr1-leader_mr1-story-pages' } } ); window.dispatchEvent(event); } catch (err) {} })(); Top Stories Pfizer reports encouraging, very early vaccine test results 262 more coronavirus cases confirmed in Michigan .cls-1{fill:#fff;fill-rule:evenodd} Video Lowell picks new police chief KDL delays reopening due to increased risk of virus Republicans, with exception of Trump, now push mask-wearing Stimulus check round 2: Jobs report on Thursday could be key .cls-1{fill:#fff;fill-rule:evenodd} Video (function () { try { var event = new CustomEvent( "nsDfpSlotRendered", { detail: { id: 'acm-ad-tag-leader_mr4-leader_mr4-facebook-users-only' } } ); window.dispatchEvent(event); } catch (err) {} })(); Citing racial bias, San Francisco will end release of mug shots 16th person charged in downtown Grand Rapids riot Deputies on scene of standoff in rural Ottawa County .cls-1{fill:#fff;fill-rule:evenodd} Video Goodbye, free parking: Grand Rapids resumes enforcement July 6 MI Supreme Court declines to hear Charles Pickett appeal Board finds it has authority on guns at Michigan Capitol Read more stories (function () { try { var event = new CustomEvent( "nsDfpSlotRendered", { detail: { id: 'acm-ad-tag-leader_mr2-leader_mr2' } } ); window.dispatchEvent(event); } catch (err) {} })(); More Stories Suspect accused of football game threat enters guilty plea Portion of ‘Dragon’ trail now open to bikers, hikers .cls-1{fill:#fff;fill-rule:evenodd} Gallery Report: Cause of large Kzoo fire undetermined KDPS: 2 teens arrested after ‘rolling gunfight’ Read more stories (function () { try { var event = new CustomEvent( "nsDfpSlotRendered", { detail: { id: 'acm-ad-tag-mr_combo1-mr_combo1' } } ); window.dispatchEvent(event); } catch (err) {} })(); Know something newsworthy? 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  • “It’s important for me to go to the protests because I feel like if they’re my people, even if they’re not my people, I feel like I should stand with them.”
  • With the coronavirus and systemic racism disproportionately affecting the Black community, the club wants to help with its new Be You Wellness program.
  • The Boys & Girls Club of Grand Rapids Youth Commonwealth is kicking off a new program to help kids focus on their mental health.
  • Boys & Girls Club launches mental health program
  • Grand Rapids by: Dana Whyte Posted: Jul 1, 2020 / 05:00 AM EDT / Updated: Jul 1, 2020 / 05:53 AM EDT {"mcp":"LIN","width":"100%","height":"100%","video":"5638267","autoplay":true,"expect_preroll":true,"pInstance":"p9","plugins":{"comscore":{"clientId":"6036439","c3":"woodtv.com","script":"//w3.cdn.anvato.net/player/prod/v3/plugins/comscore/comscoreplugin.min.js","useDerivedMetadata":true,"mapping":{"video":{"c3":"woodtv.com","ns_st_st":"wood","ns_st_pu":"Nexstar","ns_st_ge":"News"},"ad":{"c3":"woodtv.com","ns_st_st":"wood","ns_st_pu":"Nexstar","ns_st_ge":"News"}}},"dfp":{"adTagUrl":"https://pubads.g.doubleclick.net/gampad/ads?sz=1x1000&iu=/5678/lin.wood/news/grand_rapids&impl=s&gdfp_req=1&env=vp&output=vmap&unviewed_position_start=1&vid=short_onecue&cmsid=1234&url=https://www.woodtv.com/news/grand-rapids/boys-girls-club-launches-mental-health-program/&ciu_szs=728x90,300x250&ad_rule=1&description_url=https://www.woodtv.com/news/grand-rapids/boys-girls-club-launches-mental-health-program/&cust_params=vid%3D5638267%26cmsid%3D356543%26pid%3D356543%26vidcat%3D/news/grand_rapids%26bob_ck%3D[bob_ck_val]%26d_code%3Dna003"}},"accessKey":"qN1zdy1w0ggN6Umn7sgkuVd7q2AWkJo9","token":"eyJ0eXAiOiJKV1QiLCJhbGciOiJIUzI1NiJ9.eyJ2aWQiOiI1NjM4MjY3IiwiaXNzIjoicU4xemR5MXcwZ2dONlVtbjdzZ2t1VmQ3cTJBV2tKbzkiLCJleHAiOjE1OTM2MzU1NDl9.aDfquJ3BjVZlGTCjmwCodNLCPFW2AnaYnKbBKOTiFlM","expectPrerollTimeout":8,"nxs":{"mp4Url":"https://nxsglobal.storage.googleapis.com/wood/video/video_studio/75/20/07/01/5638267/5638267_14CF04A2699E49618750E63BFB8ABA27_200701_5638267_Boys___Girls_Club_launches_mental_health_program_600.mp4"},"disableMutedAutoplay":false,"recommendations":true,"expectPreroll":true,"titleVisible":true,"trackTimePeriod":60} AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to WhatsAppWhatsAppShare to SMSSMSShare to EmailEmailShare to MoreAddThis GRAND RAPIDS, Mich. (WOOD) — The Boys & Girls Club of Grand Rapids Youth Commonwealth is kicking off a new program to help kids focus on their mental health. Officials say that 90 percent of the kids they serve are of color and 64 percent of them are African American. With the coronavirus and systemic racism disproportionately affecting the Black community, the club wants to help with its new Be You Wellness program. “I have been to the protests, most of the protests downtown,” said Myaja Dunning, a six-year member of the Boys & Girls Club of Grand Rapids. “It’s important for me to go to the protests because I feel like if they’re my people, even if they’re not my people, I feel like I should stand with them.” Dunning says focusing on mental health is crucial right now and she wants the club to help other kids the way it’s helped her. “Between school, my weight, I’ve struggled with my weight my whole life, they’ve made me happier overall,” said Dunning. The Be You Wellness program will serve more than 200 youth and will address mental and chronic health challenges. Staff will go through a new training program and lead kids in different activities. CEO Patrick Placzkowski says he wants their youth, especially those in the Black community, to know they’re there to help. “COVID, normal life, plus the events of the last three weeks, month since George Floyd absolutely has put a lot more emphasis for us on supporting that mental health and helping those kids feel like they’re supported, and it’s OK to have whatever anxiety and stress they’re feeling,” said Placzkowski. Dymond Cummings, another member participating in the program, thinks it’s important that kids address these challenges early on, so they have a better chance at a brighter future. “They have really opened me up because I was a shy little girl at first, like I didn’t really talk to anybody, but over all the years they have really shaped me into a bigger and better person, taught me how to be a leader,” said Cummings. The program will run into 2021 and is supported by the Grand Rapids Police Department, Grand Rapids Public Schools, Grand Rapids Community College and Stockbridge Business Association. —– Online: Boys & Girls of Grand Rapids Youth Commonwealth Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Share this story AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to WhatsAppWhatsAppShare to SMSSMSShare to EmailEmailShare to MoreAddThis (function () { try { var event = new CustomEvent( "nsDfpSlotRendered", { detail: { id: 'acm-ad-tag-mr1_mobile-mr1_mobile' } } ); window.dispatchEvent(event); } catch (err) {} })(); Around the WebThe Best Kept Secret to an Itch Free DogItch Relief Chews - Petlab2015 Dodge Dart SXTISEECARSThe Real Reason They're Keeping Americans HomeStansberry ResearchPennsylvania: Why Are People in Brookhaven Snapping Up This $89 AC Unit?Blaux Personal ACRemoving Moles & Skin Tags Has Never Been This EasySkincell ProThe States Where Americans Don't Want To Live AnymoreMoneyWise.comThe Most Successful Attorneys in Brookhaven. See the ListFind Attorney | Sponsored4 Worst Blood Pressure Drugs Simple Blood Pressure Fix Pennsylvania: Gov't Will Pay $271/month off Your Mortgage if You Apply NowMortgage BenefitsThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view our Privacy Policy and your opt out options here.Got it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancel More Grand Rapids Stories 16th person charged in downtown Grand Rapids riot by WOODTV.com staff / Jul 1, 2020 GRAND RAPIDS, Mich. (WOOD) — Charges have been filed against another person in connection to the May 30 and May 31 riot in downtown Grand Rapids, prosecutors say. Kent County Prosecutor Chris Becker announced Wednesday that Howard Eugene Nall, 34, has been charged with one count of rioting, one count of malicious destruction of property and one count of breaking and entering. Read the Full Article (function () { try { var event = new CustomEvent( "nsDfpSlotRendered", { detail: { id: 'acm-ad-tag-leader_mr3-leader_mr3' } } ); window.dispatchEvent(event); } catch (err) {} })(); Goodbye, free parking: Grand Rapids resumes enforcement July 6 by Christa Ferguson / Jul 1, 2020 GRAND RAPIDS, Mich. (WOOD) — Drivers enjoying free parking at Grand Rapids meters: Your time is almost up. The city recently posted notices near meters warning drivers that parking enforcement will resume Monday. The message: “Pay your meter!” or get ready to pay for parking tickets. Read the Full Article COVID-19 limits ways you can cool down this summer by Whitney Burney / Jun 30, 2020 GRAND RAPIDS, Mich., (WOOD) — The city of Grand Rapids has limited options available for the public to cool down this year. County officials credit the COVID-19 pandemic. This summer, only two cooling centers are available to the public: Mel Trotter Ministries and Heartside Ministry in downtown Grand Rapids. Last year there were more than a dozen available. Read the Full Article .cls-1{fill:#fff;fill-rule:evenodd} Video (function () { try { var event = new CustomEvent( "nsDfpSlotRendered", { detail: { id: 'acm-ad-tag-leader_mr1-leader_mr1-story-pages' } } ); window.dispatchEvent(event); } catch (err) {} })(); Top Stories Pfizer reports encouraging, very early vaccine test results 262 more coronavirus cases confirmed in Michigan .cls-1{fill:#fff;fill-rule:evenodd} Video Lowell picks new police chief KDL delays reopening due to increased risk of virus Republicans, with exception of Trump, now push mask-wearing Stimulus check round 2: Jobs report on Thursday could be key .cls-1{fill:#fff;fill-rule:evenodd} Video (function () { try { var event = new CustomEvent( "nsDfpSlotRendered", { detail: { id: 'acm-ad-tag-leader_mr4-leader_mr4-facebook-users-only' } } ); window.dispatchEvent(event); } catch (err) {} })(); Citing racial bias, San Francisco will end release of mug shots 16th person charged in downtown Grand Rapids riot Deputies on scene of standoff in rural Ottawa County .cls-1{fill:#fff;fill-rule:evenodd} Video Goodbye, free parking: Grand Rapids resumes enforcement July 6 MI Supreme Court declines to hear Charles Pickett appeal Board finds it has authority on guns at Michigan Capitol Read more stories (function () { try { var event = new CustomEvent( "nsDfpSlotRendered", { detail: { id: 'acm-ad-tag-leader_mr2-leader_mr2' } } ); window.dispatchEvent(event); } catch (err) {} })(); More Stories Suspect accused of football game threat enters guilty plea Portion of ‘Dragon’ trail now open to bikers, hikers .cls-1{fill:#fff;fill-rule:evenodd} Gallery Report: Cause of large Kzoo fire undetermined KDPS: 2 teens arrested after ‘rolling gunfight’ Read more stories
8 annotations
  • Professional investors may be using the dips as an opportunity to get back in. When there are pullbacks in price, Sonnenshein said incoming phone calls and the emails are often about putting more money to work.“Investors are used to seeing those types of cycles in the price,” he said. “They’re using pullbacks in price opportunistically to double down and add to their positions.”
  • “The kind of inflows that we’re reporting should be evidence that investors are not waiting for an ETF to begin participating in this asset class,” Sonnenshein said.
  • “The most prevalent theme for investment conviction in bitcoin is coming from a rotation out of gold,” he said. “Investors are also anecdotally sharing that that’s where, and how they’re making room for bitcoin in their portfolios.”
  • Many professional investors see it as an alternative to established safe-haven assets, such as gold, and a hedge against “perpetual money printing” by central banks, Sonnenshein said.
  • Institutional demand has been cited as a key reason for bitcoin topping $40,000 last week and a triple-digit rally last year. Sonnenshein said those professional investors often don’t have the legal or “operational wherewithal” to buy and hold cryptocurrencies safely.
  • Billionaire hedge fund manager Paul Tudor Jones called bitcoin the “best inflation hedge” and compared it to putting money behind tech giants like Apple and Google. Stanley Druckenmiller and Bill Miller are among the other high-profile bitcoin bulls. Their backing, analysts say, has given Wall Street more confidence to invest.
  • “We saw a meaningful acceleration of institutional participation,” Michael Sonnenshein, who recently took over as CEO of Grayscale Investments, told CNBC in a phone interview. “There’s no longer professional risk of investing in the digital currency asset class — there’s probably more career risk in not paying attention to it.”
  • The New York-based investment firm kicked off last year with $2 billion in assets and ended with more than $20.2 billion. That 900% increase was driven by demand from institutional investors such as hedge funds, endowments and pension funds, the company said in a quarterly report Thursday.
  • Grayscale saw its assets under management skyrocket as Wall Street used it as a proxy to invest in bitcoin.
9 annotations
  • And get your vaccinations [for] flu and whatever else you need.”
  • “Older people should not neglect seeing their healthcare providers, now mor
  • Caplan says that when you consider that 60 percent of Americans have some kind of underlying health condition, that 40 percent of adults are obese, and that many aging Americans have heart health issues, it just makes sense that as a person ages, a COVID-19 battle gets more challenging.
  • The CDC now says, “People in their 50s are at higher risk for severe illness than people in their 40s. Similarly, people in their 60s or 70s are, in general, at higher risk for severe illness than people in their 50s. The greatest risk for severe illness from COVID-19 is among those aged 85 or older.
  • “The healthier our patients are, the better they do with COVID-19. Focus in earnest more than ever on your health. Across the board, the best outcomes come from this.”
  • Even those with type 2 diabetes who take medication may need injected insulin during treatment, he added.
  • “When [a person with diabetes] is in the hospital for this, their insulin needs go way up,” he said.
  • However, there is research that concludes people with diabetes can develop more serious cases of COVID-19.
  • First, there’s no evidence yet that people with diabetes are more likely to contract the novel coronavirus.
  • “Pregnancy is a stress on a healthy woman’s body.”That’s why, he said, a pregnant woman who contracts COVID-19 may face more severe outcomes.
  • By removing a set age cut off, the updated guidelines give notice to people with underlying conditions of all ages that they are more likely to end up in an intensive care unit (ICU) if they contract the viru
  • The updated guidelines also remove 65 as the age when more severe outcomes may occur
  • The agency is warning that people with type 2 diabetes, kidney disease, whole organ transplants, and women who are pregnant could experience more severe outcomes if they contract COVID-19.
  • CDC Expands List of Those with Higher COVID-19 Risks: What to Know
14 annotations
  • “There is going to be massive store closures and huge bankruptcies in the future,” said Storch. “It's going to lead to massive consolidation, because the big guys are going to get bigger and eat up all the share, and the little guys are going totally out of business.”
  • “Department stores are dying… When we look at the October [retail sales] number, these are dying segments,” said Storch. “Don't think for a second that anybody needs a department store in this world. They disappeared a long time ago in most countries, and that's what's going to happen [in the U.S.].”
  • “The winners are going to win big,” former Toys R Us CEO Jerry Storch recently told Yahoo Finance Live. “You're going to have all the share in the hands of Walmart, Target, Dollar General…. At the end of the day, bricks and mortar will be smaller, and e-commerce will be bigger.”
  • While the pandemic has shuttered small businesses and left many on the brink of bankruptcy, it has also proven to be a boon for retail giants. Amazon (AMZN) topped Wall Street estimates in the third quarter with revenue jumping 37%. Target’s (TGT) digital comparable sales grew 155%, while Walmart’s (WMT) U.S. e-commerce sales soared 79%. Home Depot and Lowe’s have also seen a boost in sales as consumers adjust their purchasing habits and spend more money on home improvement projects.
  • In a letter to Biden earlier this month, New York state Senator Michael Gianaris pushed for rent forgiveness, writing “We need robust and targeted residential and commercial rent relief, ideally in the form of rent cancellation and forgiveness. Access to no/low interest loans would also be a great help, so that people can remain in their homes and maintain their places of business until they can get back on their feet.”
  • “We're at the epicenter of the crisis,” said McGee. “While the CARES Act was good for staff, the government needs to do a whole lot more. I wish they would have done it yesterday and certainly would like them to act now. There's so much pressure, particularly on small businesses, which are 70% of the tenants in shopping centers around the country. “
  • “I fear if we continue to have the coronavirus cases we're having right now, and that we experience some type of additional lockdown, we will have a lot of empty storefronts across our country,” Tom McGee, International Council of Shopping Centers CEO, told Yahoo Finance Live, adding that the situation is about to go from bad to worse. “I think it's critical for the government to act.”
  • The latest surge in coronavirus cases, coupled with the government’s failure to pass another stimulus package, is exacerbating the stress and anxiety felt by hundreds of thousands of retailers nationwide.
8 annotations
  • "These results suggest that the minority of individuals who can still make the protein are at much greater risk of having an advanced cancer," Nissi Varki said. The researchers also validated their findings in mice by introducing tumor cells engineered to produce Siglec-12. The resulting cancers grew much faster, and turned on many biological pathways known to be involved in advanced cancers, compared to control tumor cells without functioning Siglec-12.
  • Normally, genes that encode such dysfunctional proteins are eliminated by the body over time, and approximately two-thirds of the global human population has stopped producing the Siglec-12 protein. Where the gene still hangs around in humans, it was long thought be of no functional relevance, and there have been very few follow-up studies over the two decades since it was discovered. Meanwhile, chimpanzees still produce functioning Siglec-12. advertisement googletag.cmd.push(function() { deployads.push(function() { deployads.gpt.display("adslot-mobile-middle-rectangle") }); });
  • "At some point during human evolution, the SIGLEC12 gene -- and more specifically, the Siglec-12 protein it produces as part of the immune system -- suffered a mutation that eliminated its ability to distinguish between 'self' and invading microbes, so the body needed to get rid of it," said senior author Ajit Varki, MD, Distinguished Professor at UC San Diego School of Medicine and Moores Cancer Center. "But it's not completely gone from the population -- it appears that this dysfunctional form of the Siglec-12 protein went rogue and has now become a liability for the minority of people who still produce it."
  • Compared to chimpanzees, our closest evolutionary cousins, humans are particularly prone to developing advanced carcinomas -- the type of tumors that include prostate, breast, lung and colorectal cancers -- even in the absence of known risk factors, such as genetic predisposition or tobacco use. A recent study helps explain why.
4 annotations
  • “Many international investors come from countries with very different experiences of democracy, regime change, and the stability of the nation state from that of the United States,” Donovan said. “It is perhaps inevitable that such investors will view events in the US through the prism of their own experiences, and this may increase the risk that they see in U.S. assets.”
  • “There are media reports that the 25th Amendment of the Constitution may be invoked, or that fresh impeachment proceedings could be launched against US President Trump,” UBS economist Paul Donovan said in a note Thursday. “This would probably not impact policy, but markets might care about impeachment (as conviction could bar US President Trump from future office).”
  • After the violent pro-Trump protests at the U.S. Capitol on Wednesday, a growing number of Republican lawmakers have reportedly considered taking draconian measures to remove Trump from office, with fewer than 14 days left of his term. Representative Ilhan Omar, a Democrat from Minnesota, said she was drawing up Articles of Impeachment in the House of Representatives.
  • New weekly unemployment claims came in at 787,000 for the week ended January 2, the Labor Department reported Thursday morning, topping estimates for an increase to 800,000. The prior week’s level was revised up by 3,000 to 790,000. New jobless claims had topped 800,000 for three of the four full weeks of December.
  • “Our U.S. economists have indicated that a Democratic Senate would likely lead to another large fiscal stimulus package, possibly including some priorities of the new administration such as infrastructure,” Deutsche Bank economists said in a note Wednesday. “They see that as a material upside to their GDP forecast, which they currently see rising 4.3% Q4/Q4 in 2021.”
  • “The market is more focused on, what are the policies of the next two years with the Congress that was voted in with the final election last night? What are the policies over the next four years?” Mills added. “They’re looking at COVID, they see vaccines being distributed. They are looking at a reopening.”
  • “When I look at the market reaction here … there is a recognition here that there is a certain inevitability in terms of what happens on January 20,” Raymond James analyst Ed Mills told Yahoo Finance on Wednesday. “It’s not as if there’s a situation based upon any protest that keeps Donald Trump as president at this point.”
  • President-elect Joe Biden called the event an “insurrection” in remarks to the nation. Trump later told the protesters to “go home,” but reiterated baseless claims that the “election was stolen from us,” in a video address now removed by Twitter, Facebook and YouTube. Business leaders including JPMorgan Chase CEO Jamie Dimon and Blackstone CEO Stephen Schwarzman, who has long backed Trump, condemned the violence.
  • U.S. stocks gained Thursday morning as traders shook off Wednesday’s unrest in Washington and looked ahead to the policy implications of the incoming presidential administration and Congress.
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  • Americans are on the hook for more than $1.7 trillion in student loan debt, according to the Federal Reserve. Even though payments were paused in 2020 — at least for federal loans — the government decided that delaying the problem wasn’t enough.The CARES Act allowed employers to voluntarily pay up to $5,250 of a worker’s college loan during 2020. Both employers and employees were able to avoid federal payroll taxes on the money, and the employees won’t have to pay federal income tax on the amount when they file their taxes next year.
  • The saver’s credit helps low- and medium-income taxpayers save for retirement by providing a tidy tax credit when you contribute to retirement accounts including 401(k)s and IRAs.Yet many Americans don’t even know about it. According to a survey from the Transamerica Center for Retirement Studies, only 38% of U.S. workers were aware of the tax break.So, what’s new with the saver’s credit? As in previous years, the IRS increased the income limit for 2020, making the tax credit available to even more people. The new limits are:Married filing jointly: $65,000, up $1,000.Head of household: $48,750, up $750.All other tax-filing statuses: $32,500, up $500.
  • Health obviously became a front-and-center issue for Americans in 2020. With a health savings account, you can avoid income taxes on your contributions today and on the money you withdraw for your medical needs in the future — pretty slick.You can contribute to a tax-free HSA so long as your health insurance is considered a high-deductible plan.But there are rules on how much money you can save in your HSA every year.For 2020, those limits have gone up by $50, to $3,550, for self-only coverage; and by $100, to $7,100, for family coverage.
  • When you pay taxes, you can either take the standard deduction to reduce your tax bill or itemize your deductions if they’ll add up to more savings than the standard deduction.According to various estimates, as many as 90% of U.S. taxpayers use the standard deduction.Like income brackets, standard deductions rise each year to adjust for inflation.For the 2020 tax year, these are the standard deduction amounts:Single: $12,400, up $200.Married filing jointly: $24,800, up $400.Married filing separately: $12,400, up $200.Head of household: $18,650, up $300.
  • First, the good news: Tax rates haven’t gone up for the 2020 tax year.But income tax brackets typically rise every year due to inflation. The brackets have been raised slightly, so you could find yourself paying more taxes next year even if your income didn’t change.Here are the new brackets for those filing as a single person, under the U.S.’ progressive, or graduated, tax system:The first $9,875 of income (or less) is taxed at 10%.Income amounts greater than $9,875 but not more than $40,125 are taxed at 12%.Income amounts greater than $40,125 but not more than $85,525 are taxed at 22%.Income amounts greater than $85,525 but not more than $163,300 are taxed at 24%.Income amounts greater than $163,300 but not more than $207,350 are taxed at 32%.Income amounts greater than $207,350 but not more than $518,400 are taxed at 35%.Any income over $518,400 is taxed at 37%.
  • Once your reach age 72, the IRS says you must start withdrawing money annually from tax-advantaged retirement accounts, including traditional IRAs and 401(k)s. These required minimum distributions, or RMDs, count as fully taxable income; the withdrawals help ensure that people don’t use retirement accounts to avoid taxes.
  • As Americans have endured the coronavirus health and economic crisis, the CARES Act has provided an incentive to help those in greater need.The law makes it easier to get a tax break for charitable donations made during 2020.
  • Taxes are a fact of life, and so are annual changes in how you file and calculate your federal income tax. But the coronavirus pandemic will mean even more than the usual yearly differences when you sit down to do your taxes for 2020 during the new year.
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  • On its website, the CDC notes that of about 275,000 full-genome sequences in public databases, 51,000 are from the United States, and 125,000 are from the UK. This difference is especially striking considering how many more infections have been confirmed in the US -- over 18 million - compared with over 2.1 million in the UK.
  • "Given the small fraction of US infections that have been sequenced, the variant could already be in the United States without having been detected," the CDC said. To detect new mutations of a virus, samples are gathered from infected patients and then undergo genetic sequencing, looking at the order of the letters in its genetic code for anything new. In the US, only a relatively small number of samples go through this process.
  • Health officials agree. "You really need to assume that it's here already, and certainly is not the dominant strain, but I would not be surprised at all if it is already here," Dr. Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, said Tuesday. "It could be in the United States, and we might not have yet detected it," Assistant Secretary for Health Admiral Brett Giroir said Monday.
  • "If I had to guess, I would say it's probably in hundreds of people by now," said Michael Worobey, head of the department of ecology and evolutionary biology at the University of Arizona. "It's very possible it's arrived multiple times in multiple places." <img alt="UK experts are &amp;#39;highly confident&amp;#39; that a new coronavirus variant is more contagious. Here&amp;#39;s what that means" class="media__image" src="//cdn.cnn.com/cnnnext/dam/assets/201221092343-01-covid-19-variant-disruption-europe-1220-restricted-large-169.jpg">UK experts are 'highly confident' that a new coronavirus variant is more contagious. Here's what that means"Imagine the amount of infected travelers leaving London -- that's been increasing exponentially," said Trevor Bedford, associate professor in the vaccine and infectious disease division of the Fred Hutchinson Cancer Research Center.
  • Researchers studying the new UK strain of the coronavirus think it likely arrived in the US in mid-November, and that many people in the United States could already be infected.
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  • Dr. Georges Benjamin, executive director of the American Public Health Association, is more optimistic with the rollout, saying so far, it has gone "reasonably well." He does hope the incoming Biden administration is thinking about how to get accurate numbers to states to set expectations for Americans about when life can return to normal.Get CNN Health's weekly newsletter Sign up here to get The Results Are In with Dr. Sanjay Gupta every Tuesday from the CNN Health team."It is not in our interest to have these multiple estimates as to when it gets to the rest of the population because I don't think you can do good planning that way," Benjamin told CNN. "I hope the new administration is sitting down and thinking about the messaging, so people don't get their hopes up to get vaccinated."
  • Mississippi Health Officer Dr. Thomas Dobbs explained during a Tuesday press conference that it was not the state's job to make sure vaccines actually went into people's arms once it was allocated to long-term care facilities."They haven't started vaccinating," Dobbs said referring to long term care facilities, "but we have released the allocation sufficient for them to get started so they're in the process of getting that set up. And you know, that's something that's out of our control. But you know, within the next couple of weeks they'll get that rolling."
  • In Michigan, the state's Covid-19 vaccine dashboard December 28 shows only 37,660 doses of the vaccine have been administered out of the 231,075 doses sent to the state. Sutfin said the delay in shipments and lag in data updates explains the discrepancy."While Michigan received over 84,000 doses last week, they were not all received the same day. Vaccine is being delivered daily to hospitals and local health departments across the state. As they understand more about operations and clinic flow, we expect the time from receipt to administration to decrease" Sutfin told CNN. <img alt="Covid-19 vaccine is a source of hope for health care workers. But it comes too late for hundreds of them" class="media__image" src="//cdn.cnn.com/cnnnext/dam/assets/201217200918-sandra-lindsay-covid-19-vaccine-large-169.jpg">Covid-19 vaccine is a source of hope for health care workers. But it comes too late for hundreds of themSutfin also outlined that the process for unpacking, inventorying, thawing, and coordinating each dose of vaccine "takes some time, so it is expected that at any point in time there will be a difference between vaccine received and doses administered."
  • "To date, we still have not started vaccine distribution in Dayton," Whaley said Tuesday, adding that Christmas Eve will be the first day someone from Dayton receives the vaccine."We aren't a big city that gets these assets quickly. We have talked about this, how testing was very slow in communities like Dayton and across the country, and I'm concerned that vaccine distribution will be slow as well," she added.
  • "These doses are being distributed at states' direction to the American people as quickly as they are available and releasable, and the rapid availability and distribution of so many doses -- with 20 million doses expected to be allocated for distribution just 18 days after the first vaccine was granted emergency use authorization -- is a testament to the success of Operation Warp Speed," Pratt said in a statement to CNN.
  • CDC distribution data has just started to include the Moderna vaccine, which was rolling out to more than 3,500 locations. While the CDC plans to update the data regularly, daily updates are not slated to begin until 2021.Some states, like Michigan, are reporting their own data, but that state-level reporting lags, too.
  • "It does seem like getting to 20 million by the beginning of the year is ambitious," Dr. Marcus Plescia, chief medical officer for the Association of State and Territorial Health Officials, said. Still, "people seem to be really very encouraged about how the vaccinations are going," Plescia added. "Everybody seems to feel like they are using the supply that they have."
  • "We do still feel strongly that we will have allocated to the states by the end of the year 20 million doses of vaccine that'll be available," Gen. Gustave Perna, Operation Warp Speed's chief operating officer said during the call December 21. "We feel confident that we will be distributing the end part of that vaccine no later than the first week in January for everybody to have access to."
  • One early hurdle: A two-day US Food and Drug Administration requirement to assess each shipment of vaccine for quality control slowed down distribution. States were told by OWS to expect fewer doses for week two than originally planned. With the 20 million number seeming further from reach, OWS officials acknowledged last Monday they may not get there until January.
  • One count, from the US Centers for Disease Control and Prevention, shows about 11.4 million doses have been distributed as of Monday morning and about 2.1 million have been administered -- not even close to the goal Warp Speed originally set.
  • While the coronavirus pandemic continued to surge throughout the summer and fall, federal government officials repeatedly offered a ray of hope: enough vaccine doses to vaccinate 20 million Americans by the end of December
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  • “I think that the zero interest rate phenomenon that we find ourselves in is covering over a lot of problems for the market. We do have the issue that there is no alternative,” Courtney added. “And when you have really no effective alternative to stocks, I think you are going to see that markets will shrug off bad news and use the good news to justify the current valuations. I think some level of that is justified when there truly is no alternative, no other place to go get a real return in liquid markets.”Meager treasury yields have also pushed investors into other risk assets, and Bitcoin (BTC-USD) prices on Wednesday surged to a fresh record high of more than $28,000, just two weeks after breaching the $20,000 level for the first time ever.
  • “But moving into next year, it’s going to be how these things play out. Will the vaccine be distributed efficiently, effectively? Will consumer confidence rise to the point where we could get some of this deferred consumption in 2021, which is what the market wants to see? And will consumers be healthy enough, will these stimulus checks ... keep them above water long enough to have some kind of return to normalcy? The market seems to be priced for these things to work out relatively well.”
  • “In the last couple quarters, the market probably got most of what it wanted to see,” Tim Courtney, chief investment officer for Exencial Wealth Advisors, told Yahoo Finance. “It got the vaccines with the high efficacy rates, it got very, very low interest rates, and so far low inflation moving into 2021. It’s got what looks like a divided Congress, although that’s still up in the air.”
  • Stocks are set to close out the year with strong returns, even given the lingering economic strain induced by the coronavirus pandemic. U.S. economic output remains below pre-virus levels even after a record third-quarter surge, and the labor market is still 9.8 million jobs short of its total before the pandemic hit in March. On Thursday, the Labor Department’s final weekly unemployment claims report for 2020 is expected to show another more than 800,000 Americans filed for first-time jobless claims, for a sum about four times the pre-pandemic weekly average.
  • Stock futures opened flat to slightly higher Wednesday evening ahead of the final session of the year.
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  • But this can be addressed by creating a database that does not include any personal information (such as an officer's address) and developing a system that prevents frivolous complaints from muddying the database
  • Of course, police unions will surely howl at any such requirement: They will complain about loss of privacy and point to the potential for abuse.
  • A broad, national mechanism for disclosure is necessary to make this project meaningful, both because police brutality occurs nationwide and because disgraced officers often shuffle between jurisdictions.
  • A database would also be a tremendous boon for both prosecutors and defense attorneys.
  • There are many reasons to make these disclosures public. Most obviously, it would allow the public to access important information which could reveal patterns of department-wide failures.
  • And even though the Minneapolis Police Department disclosed this information, it did not provide any additional details regarding the nature of those complaints. E
  • . A central feature of the system is a disclosure website, which makes it easy for members of the public to search for their brokers or run a background check on prospective ones. This is the perfect model for a national police disclosure scheme.
  • The new system made the track records of these securities brokers accessible to all. Why not do the same for every law enforcement officer in the United States?
  • Fortunately, a good model exists: the strikingly transparent national database on the people who handle our financial investments
  • . The order lays the foundation for a national database to track the use of excessive force, but only calls for police officers to be included when they are terminated, de-certified, convicted of a crime, or found liable in civil court.
  • How a finance database could help improve policing
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  • Again, the price action will be more important to me than the news and the politics. Remember the words of Warren Buffett: “If you mix your politics with your investment decisions, you’re making a big mistake.”
  • The virus outbreak led to a globally coordinated stimulus effort on steroids. Whether we agree with it is not the issue. Our job isn’t to argue with Fed policy, it’s to take advantage of it. They say “Don’t fight the Fed” — well good luck fighting all the global central banks.
  • The second instance came via the “Three Day Thrust” signal, an event where the S&P 500 gains at least +1.5% on three consecutive days. This occurred in early November 2020. The other nine times this happened since 1970 all led to strong gains with the index up +14% on average six months later and 22% on average a year later. Bottom line, one of the biggest mistakes investors made in 2020 was getting brainwashed by the negative news and ignoring the incredibly strong price action in late March and early April. After a six month pause, this extreme strength resumed in early October and November. Institutional buying of this magnitude usually leads to higher prices one year later.
  • After the market recovered for approximately six months, two interesting “price thrust” events happened that could potentially give us a preview of what to expect in 2021. In early October 2020, we had a “Breadth Thrust Indicator.” This is a technical momentum indicator developed by the great Marty Zweig. Without boring you too much, it’s basically a rare event where the S&P 500 rapidly moves from an oversold condition to one of extreme strength. Thirty-two of the last 33 times this occurred, the index was higher one year later by an average of 16%.
  • Many people forget that the big institutions control the market and that the market is a discounting mechanism. In other words, the price action was firming up in late March and early April in anticipation of the economy rebounding later in the year.
  • When you ask market participants what are some of the biggest lessons you learned in 2020, you will hear two common themes: Don’t fight the Fed and follow price action. These are important because they will continue to apply in 2021. Let’s start with price.
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  • “Despite these reservations nothing has fundamentally changed that supports higher cyber currency prices in the future as well as ongoing attempts on the part of central bankers and governments to capture and control this new form of currency,” he said.
  • “There was a tremendous amount of supply from the latter, and that makes the move today even more impressive as we doubt the demand would have been there even three to six months ago to satisfy the supply,” he said.
  • “Given the sheer distance bitcoin has to travel (from being totally obscure in the beginning, to being one half of every trade in the future global economy), it is probably more accurate to think of BTC as an investment in a unicorn-style winner-take-all tech-company,” he said.Still, a higher price per unit translates into not only additional attention to the asset but more throughput in U.S. dollars and a larger security budget protect itself against adversaries, he said. 
  • “In my opinion this is just the start for this cycle, which is going to be dominated by larger and more established institutional investors adding allocations to BTC. The real tipping point is if pensions, endowments and sovereign wealth funds start to get in the game. Whether that is this time around or next cycle remains to be seen,” he said.
  • “Like gold, it is worth what someone else is willing to pay for it, and that is impacted by overall market sentiment, inflation expectations and technological trends. Unlike gold, though, bitcoin’s supply is not at all impacted by its price, which is one of the reasons it will always be more volatile: There will never be an increase of new supply to meet increased demand,” she said.
  • “One of the most fascinating things about bitcoin is that it doesn’t conform to standard valuation techniques. There’s no cash flow to discount and no physical assets that back it up,” she said.
  • Bitcoin’s supply schedule mimics gold, making it a “complete contrast to central bankers who can create money out of thin air,” Thornton said. “As such, bitcoin has performed very well over the past several years as central banks seem to be hell-bent on destroying the value of their currencies. This would, of course, include the Federal Reserve, the European Central Bank and the Bank of Japan especially. They along with many other central banks have reduced their policy rates to near zero, or even negative rates,” Thornton said.
  • The issuance of Bitcoin decreases every four years in an event called a “halving.” These technical events decrease the supply of BTC created every 10 minutes by the network until no more BTC will be mined sometime in 2140.
  • “Friedman famously argued for a k-percent rule (growing the money supply by a set, pre-announced % every year, regardless of what happens in the country) and for having monetary policy set by a computer (where it could not be corrupted by humans),” Paul Sztorc, former statistician at the Yale Economics Department and creator of BitcoinHivemind.com, told CoinDesk in a Telegram message.“By the 2000s Friedman believed that the U.S. should just adopt a ‘fixed supply’ of base money, and declare that they would never change it. Bitcoin instantiates all of these principles.”
  • “I don’t believe we shall ever have a good money again before we take the thing out of the hands of government,” Hayek said in a 1984 interview. “That is, we can’t take them violently out of the hands of government. All we can do is by some sly roundabout way introduce something that they can’t stop.”
  • Arguably, Menger’s greatest contribution to Austrian economics was the development of the subjective theory of value, a component of the study of human action known as praxeology. Menger argued the value of any good is derived from humans themselves; that is to say, no good or service holds intrinsic value.
  • Bitcoin has storied academic roots, regardless of its reputation for use in illicit markets. Two prominent economic schools of thought, the Austrian school and the Chicago school, are often cited by Bitcoiners as accomplices in the task to free money from government printers.
  • In a similar manner Nakamoto wrote that Bitcoin miners expend “CPU time and electricity” to mimic gold miners smacking away at the Earth’s crust. In return, they receive a portion of bitcoin from the network itself while sending transactions on behalf of Bitcoin users.
  • The system is also designed to prevent government agencies – or anyone else – from affecting the Bitcoin network’s monetary supply. “Bitcoin was designed to oppose the existing fiat paper money and central banking regime that has reigned now for a century over the global economy,” Mark Thornton, senior fellow at the libertarian-leaning Ludwig von Mises Institute, told CoinDesk in an email.
  • Bitcoin’s groundwork is laid out in the 2008 white paper published by its pseudonymous founder, Satoshi Nakamoto. In the paper, Nakamoto describes their original intentions for the new money protocol, labeling Bitcoin as a proof-of-concept technology functioning as “a purely peer-to-peer version of electronic cash.”
  • Bitcoin’s price continues to climb, a consistent flow of BTC is leaving exchanges and bitcoin “whale” sightings are becoming more frequent. But beyond the market frenzy, how does it all work? 
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  • DoorDash has a flashing “buyer beware” line for excited investors right there in its S-1 risk factors section, phrasing that has become standard from hyped tech unicorns in the last few years: “We have a history of net losses, we anticipate increasing expenses in the future, and we may not be able to maintain or increase profitability in the future.”
  • Even if DoorDash gets big enough to buy up competitors, Trainer reasons, “How hard is it for another one to start up? If there were some advantage to scale here, then maybe you could make a case for consolidation. But in a world where another food delivery startup could start tomorrow, there are no advantages to scale... I think the history books are going to look back and make a case study out of this: a hyped market, a business that couldn't make money in the best possible lockdown environment, not going to make money in the future, yet selling for double its original IPO price.”
  • The food delivery space has low barriers to entry and is crowded with big names. As a result, there’s been big consolidation: GrubHub (GRUB) merged with Seamless in 2013; Uber (UBER) launched Uber Eats in 2014 and acquired Postmates this year; DoorDash itself acquired Square-owned Caviar in 2019; Instacart, more known for grocery delivery than meals, launched in 2012 and last month reportedly hired Goldman Sachs to run a $30 billion IPO.
  • “What $200 per share implies the company will do in the future is improve their margins to 8%, compared to negative 12% now,” Trainer says. “So they're going to go from a negative 12% to a positive 8% margin, while also growing revenue at 40% compounded annually for over a decade. That's super high growth and a huge improvement in margins, two things which almost never happen simultaneously.”
  • “Is it a coincidence,” Trainer wrote in a note last week, “that DoorDash filed for its IPO so soon after COVID-19 vaccines were announced? We think DoorDash’s current investors and bankers recognize that the window of opportunity to IPO this terrible business closes quickly when the threat of COVID-driven lockdowns no longer drives growth in food delivery demand.”
  • “They do not have a way to make money long-term,” Trainer said on Yahoo Finance Live just after DoorDash began trading on Wednesday. “There's a lot of competition. And we're seeing their market share decline. At the end of the day, this business is a race to a zero-margin business, because there's really no differentiation... This is Silicon Valley selling public markets an asset at a huge premium, and they're going to laugh all the way to the bank, and I think a lot of individual investors rushing into this are going to lose a lot of money.”
  • David Trainer, CEO of market research firm New Constructs, calls it “the most ridiculous IPO of 2020.” Last year, his firm gave that title to the WeWork IPO, which was ultimately shelved.
  • Food delivery app DoorDash (DASH) hit the public market on Wednesday, and closed the day up 86% from its IPO price of $102. That means a market cap of $72 billion for a seven-year-old startup that lost $667 million in 2019, and lost $149 million in the first nine months of 2020.
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  • “You have to decide how you’re going to show up in life,” she told CNBC.“I’ve used some of my differences as a way to stand out and to hopefully count and matter — and hopefully create an opportunity for others.”
  • Recently, Hobson and the Hobson/Lucas Family Foundation made a major gift to her alma mater, Princeton University, to establish a new residential college on campus. Hobson College is the first to be named for a Black woman at Princeton.“My hope is that my name will remind future generations of students — especially those who are Black and brown and the ‘firsts’ in their families — that they too belong,” Hobson said in the university’s news release.
  • “There are real opportunities, in our own backyards, to effect lasting and meaningful change that will ultimately put people on the path to being more financially literate and therefore more financially secure, which has tremendous implications for our society,” Hobson said.
  • She believes schools should be educating kids about money, including investing. Currently, only 21 states require high school students to take a course in personal finance and 25 require high school students to take an economics course, according to the Council for Economic Education.
  • “We’re behind the eight ball,” Hobson told CNBC last December. “Having a financially illiterate society is dangerous, and we have to do something about that.”
  • Her mother encouraged Hobson to strive for greatness, telling her she could be or do anything.“She was also extremely pragmatic and direct about the challenges I would face as a Black girl.”
  • “I had a childhood where we grew up with a lot of financial insecurity,” she said. “We would get evicted, our phone would get disconnected, our lights disconnected.”
  • “It is no accident I am in the investment management business because as a child I was desperate to understand money,” Hobson said at the CFP Board’s Center for Financial Planning’s 2020 Diversity Summit, held virtually in November.
  • Mellody Hobson, named Starbucks’ new board chair on Wednesday, knows what it is like to grow up without money.
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  • The number of Americans joining longer-term federal unemployment programs decreased slightly, according to the latest data. Individuals in the Pandemic Emergency Unemployment Compensation program, which offers individuals an additional 13 weeks worth of benefits after they use up their allotted six months of continuing benefits, fell by about 36,000, according to Thursday’s report. The number of Americans collecting benefits via the Pandemic Unemployment Assistance program, which offers benefits to gig and self-employed workers who do not qualify for regular state programs, declined by more than 300,000 to 8.56 million. And overall, about 19 million Americans were claiming unemployment benefits of some form, for a decrease of about 1 million from the previous week.
  • “Filings reversed course last week and surged to the highest level since September,” Rubeela Farooqi, chief U.S. economist for High Frequency Economics, said in an email Thursday. “The prior week’s data were likely distorted by seasonal adjustment issues around the Thanksgiving holiday while the latest data are probably better capturing a deteriorating trend. A health crisis that is likely to worsen after the upcoming holiday is a warning signal for the labor market. Widening virus containment measures are likely to restrict activity more widely and the hit to incomes from related job losses will be compounded by expiring government support measures.”
  • Jobless claims rose more than anticipated after a brief dip during the previous week. Many economists chalked up the end of November’s greater-than-anticipated improvement in new weekly jobless claims to a technical quirk with adjusting for the Thanksgiving holiday, rather than the start of a sustained trend lower in new claims. In the first five days of December alone, new COVID-19 cases totaled 1 million in the U.S., and additional restrictions across numerous states came into play.
  • Initial jobless claims, week ended Dec. 5: 853,000 vs. 725,000 expected and a revised 716,000 during the prior weekContinuing claims, week ended Nov. 28: 5.757 million vs. 5.210 million expected and a revised 5.527 million during the prior week
  • Many more Americans filed new unemployment claims last week than during the previous week, as a resurgence in COVID-19 cases heading into the winter led to more business-constraining social distancing restrictions and pushed more people out of work.
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  • "One question that will come up is how fast will we see a vaccine authorized after that," FDA's Marks told the AMA."It will depend on the discussion at the advisory committee but we are hoping that within about a week afterwards we will see an authorization if everything goes well for each of those," Marks said.
  • "The NVAC warns against issuing an Emergency Use Authorization (EUA) for COVID-19 vaccines in children, considering that children typically experience generally mild disease, except for multisystem inflammatory syndrome in children (MIS-C), a rare but serious condition that causes inflammation and various symptoms such as abdominal pain, vomiting, diarrhea, neck pain, rash, tiredness, and bloodshot eyes," the group said last week.
  • Stanford University's Dr. Steven Goodman will talk about what it means for clinical trials going forward if a vaccine is approved. He'll address the question of asking people to forgo getting a vaccine known to be protective in order to test an unproven one.<img alt="Health care workers and long-term care facility residents should get Covid-19 vaccine first, CDC vaccine advisers say" class="media__image" src="//cdn.cnn.com/cnnnext/dam/assets/201119175637-03-pfizer-vaccine-vials-large-169.jpg">Health care workers and long-term care facility residents should get Covid-19 vaccine first, CDC vaccine advisers sayOther possible questions are whether to include pregnant women and children in an EUA."At this point I would say, we may not have the data we need to actually be able to advise pregnant women, and we may need additional study," Hahn said.
  • "Vaccine efficacy against confirmed COVID-19 occurring at least 7 days after Dose 2 was 94.6%, with 9 and 169 cases in the BNT162b2 (the vaccine's experimental name) and placebo groups respectively," the FDA review document reads.
  • "We are the ones that actually don't just look at the companies' tables. We actually get down and dirty and we look at the actual adverse event reports, the bad spelling errors that are made by physicians sometimes, et cetera," Marks said."They had 95% effectiveness across a wide range of individuals," he told the AMA.
  • "By August to October of this year it became clearer to us that the first vaccines that came through would indeed likely be granted emergency use authorization because of the incredibly pressing nature of this crisis."
  • "The fact that we have so many cases of Covid-19 right now, it's so unfortunate for us as a country. The only upside to it is when you are doing a clinical trial with an endpoint that's a clinical infectious disease endpoint, it's been easy to get to those endpoints because there's just so many cases," Marks added.
  • "We've shortened vaccine timelines here without compromising vaccine safety and efficacy," Dr. Peter Marks, the head of the FDA's Center for Biologics Evaluation and Research, which approves vaccines, told an American Medical Association
  • The approach had already been tried out against infectious diseases such as Zika and against cancer as well, so researchers were confident it was safe. It is also far faster than old-fashioned vaccine development techniques such as, for instance, influenza vaccines, which require samples of the actual virus which must be grown in specially chosen chicken eggs, purified and made into a vaccine -- an uncertain and slow process.
  • Companies, academic researchers and the federal government had been working to develop so-called platforms that could be used to quickly turn around new vaccines. The first two to the finish line, Pfizer's and Moderna's, use a plug-and-play technology involving genetic material known as messenger RNA.
  • The only real questions will be about whether the advisers recommend restrictions to the EUA -- perhaps leaving children off the lIst for now, for example. They'll also discuss how to conduct the post-EUA safety surveillance and whether to offer the shot to clinical trial volunteers who got placebo doses.
  • "Our team has done their initial analysis, and we do feel that preliminarily that the success criteria have been met," FDA Commissioner Dr. Stephen Hahn told CNN Tuesday.
  • There's not much suspense going into Thursday's meeting of the US Food and Drug Administration's vaccine advisers, who are discussing emergency use authorization for Pfizer and BioNTech's coronavirus vaccine.
13 annotations
  • The US Centers for Disease Control and Prevention typically advises telling a provider if you have "any severe, life-threatening allergies" before taking any vaccine.Allergies are also a consideration with other Covid-19 vaccines that have not yet been approved. During Chinese company Sinovac's Phase 2 trial, one volunteer in the high dose group had a severe allergic reaction within 48 hours of the first dose, which researchers said may be related to the vaccine. The volunteer was treated for the reaction and recovered within three days. The same volunteer did not have a similar allergic reaction to the second shot.
  • Vaccine expert Dr. Paul Offit told CNN that allergic reactions to vaccines were not uncommon: "Certainly, vaccines can cause severe allergic reactions. In the United States, roughly one of every 1.4 million doses of vaccines is complicated by a severe allergic reaction."He said that rather than a "blanket recommendation" for people with allergies, "the smarter thing to do would be to try and look at these two patients and see what specific component of the vaccine they were allergic to."
  • Peter Openshaw, professor of experimental medicine at Imperial College London, said: "As with all food and medications, there is a very small chance of an allergic reaction to any vaccine."The fact that we know so soon about these two allergic reactions and that the regulator has acted on this to issue precautionary advice shows that this monitoring system is working well."
  • Stephen Evans, professor of pharmacoepidemiology at the London School of Hygiene & Tropical Medicine, told the UK's Science Media Centre that the increase was only "small" but said there was "a lot of uncertainty around that estimate."He said that "some people won't know if they have hypersensitivity to some constituents of the vaccine."
  • "In the pivotal phase 3 clinical trial, this vaccine was generally well tolerated with no serious safety concerns reported by the independent Data Monitoring Committee. The trial has enrolled over 44,000 participants to date, over 42,000 of whom have received a second vaccination."
  • Pfizer said in a statement that it had been advised by the UK regulator of "two yellow card reports that may be associated with allergic reaction" due to administration of the vaccine. "As a precautionary measure, the MHRA has issued temporary guidance to the NHS while it conducts an investigation in order to fully understand each case and its causes. Pfizer and BioNTech are supporting the MHRA in the investigation," the statement said.
  • "We are fully investigating the two reports that have been reported to us as a matter of priority," an MHRA spokesperson said."Once all the information has been reviewed we will communicate updated advice," the spokesperson added.
  • "As is common with new vaccines the MHRA [Medicines and Healthcare products Regulatory Agency] have advised on a precautionary basis that people with a significant history of allergic reactions do not receive this vaccination after two people with a history of significant allergic reactions responded adversely yesterday," said Stephen Powis, the national medical director for NHS England, in a statement. "Both are recovering well."
  • The two staff members -- who both carried an adrenaline auto injector and had a history of allergic reactions -- developed symptoms of anaphylactoid reaction after receiving the vaccine on Tuesday. Thousands overall were vaccinated in the UK on Tuesday, NHS England told CNN on Wednesday.
  • People with a "significant history of allergic reactions" should not be given the Pfizer/BioNTech coronavirus vaccine, UK health authorities said Wednesday, after two health care workers experienced symptoms after receiving a shot the day before.
10 annotations
  • As countries emerge from the Covid-19 crisis, we have a once-in-a-generation opportunity to rethink the role of health in a post-pandemic future.
  • Last, companies can proactively help shape healthy communities around them
  • Research shows that chronic conditions, including low back pain, mental health, and migraines can reduce the productivity of workers by up to 5%
  • Most companies outside health care are adjusting to new ways of working and serving their customers. Our research makes a strong economic case for why they should invest in the long-term health of their employees as well.
  • Furthermore, the pandemic has catalyzed fast-speed innovation and global collaboration, which if sustained could help the world address other major health conditions such as many cancers, cardiovascular diseases, and mental health disorders
  • Plus billions of people around the world are demonstrating that behavior can readily change in certain circumstances, for instance, as they wear masks, prioritize handwashing, and reduce face-to face interactions to curtail the spread of the virus
  • We found that focusing on known health improvements such as vaccines and preventive medications for heart conditions could deliver an incremental economic benefit of $2 to $4 for each $1 invested.
  • t would require not only shifting incentives in health systems from disease treatment to health promotion, but also making better health a social and economic priority.
  • We find that 70% of the economic benefits could be achieved with cleaner and safer environments,
  • we estimate that poor health reduces global GDP by 15% each year — about twice the pandemic’s likely negative impact in 2020 — from premature deaths and lost productive potential among the working-age population.
  • $12 trillion economic opportunity, hundreds of millions of lives saved, and better health across the global population.
  • New research by the McKinsey Global Institute shows that making prudent investments in the health of the world’s population can dramatically improve people’s quality of life, protect against downside risks such as pandemics, and lead to large economic returns from increased output and productivity
  • Never before has the direct connection between the health of the global population and our economic prosperity been so visibly demonstrated.
  • Research: Poor Health Reduces Global GDP by 15% Each Year
14 annotations
  • indicating that teens who belong to racial/ethnic minority groups, who come from immigrant families, or who come from families with lower income are more likely to live in areas with high levels of outdoor light at night
  • disruptions to sleep and circadian rhythms is a well-documented feature of certain mental disorders, including bipolar disorde
  • Specifically, teens who lived in areas with higher levels of artificial light at night were more likely to meet the diagnostic criteria for bipolar disorder or specific phobia.
  • The data showed that greater levels of artificial light at night were also associated with increased likelihood of having a mood disorder or anxiety disorder
  • The analyses showed that, on average, teens in areas with the highest levels of outdoor light went to bed about 29 minutes later and got 11 fewer minutes of sleep than did teens in areas with the lowest levels.
  • Importantly, teens who lived in areas with high levels of artificial light at night tended to report later weeknight bedtimes and shorter weeknight sleep duration
  • As expected, levels of artificial light at night varied according to certain neighborhood-level factors, such as urbanicity, socioeconomic levels, and population density.
  • As part of in-person interviews for the NCS-A, the adolescents completed a validated assessment to determine whether they met the diagnostic criteria for various mental disorders
  • The presence of artificial light at night can disrupt these rhythms
  • Daily rhythms, including the circadian rhythms that drive our sleep-wake cycles, are thought to be important factors that contribute to physical and mental health.
  • esearch shows that adolescents who live in areas that have high levels of artificial light at night tend to get less sleep and are more likely to have a mood disorder relative to teens who live in areas with low levels of night-time ligh
  • Outdoor light linked with teens’ sleep and mental health
12 annotations
11 annotations
  • "We know it's a hard decision and that people need to have time to prepare and have discussions with family and friends and to make these decisions, and people travel for different reasons," Dr. Cindy Friedman, chief of the traveler's health branch at CDC, told the briefing. "But our recommendations are trying to help give them the tools they need to make these tough choices."
  • "Testing does not eliminate all risk, but when combined with reducing non-essential activities, symptom screening and continuing with precautions like wearing masks, social distancing and hand washing, it can make travel safer," Walke said.
  • If people do decide to travel, "CDC recommends that travelers consider getting tested one to three days before travel," Walke said. "And then again three to five days after travel."
  • CDC officials also said Wednesday that people who choose to travel should limit their activities afterward -- and the safest choice over the upcoming winter holidays is to stay home."CDC recommends that the best way to protect yourself and others is to postpone travel and stay home," Walke said.
  • Local public health agencies' recommendations may differ from CDC's, too."Everyone should follow this specific guidance from their local public health authorities about how long they should quarantine," Walke said.
  • If a person quarantined for seven days and had no symptoms and a negative test, the risk of transmitting coronavirus is about 5%, with an upper limit of about 12%. A PCR or antigen test should be collected within 48 hours before the end of quarantine, CDC says, but quarantine should not end before seven days, even if rest results are returned earlier.
  • "We can safely reduce the length of quarantine, but accepting there is a small residual risk that a person who is leaving quarantine early could transmit to someone else if they became infectious," Brooks said.
  • But if the quarantine period is reduced from 14 days, more people may be willing to stay home after exposure, the CDC said -- and that may result in fewer coronavirus infections.Read More"We believe that if we can reduce the burden a little bit, accepting that it comes at a small cost, we may get a greater compliance overall with people completing a full quarantine," Brooks said. "If we get more people on board to complete that overall, that will result in fewer infections."
  • The new quarantine guidance was based on "extensive" modeling by CDC and other agencies that showed the risk is low, Dr. John Brooks, chief medical officer for CDC's Covid-19 response, said during a telebriefing Wednesday. Many people end quarantine early because of pressure to return to work and school, CDC officials said, and some aren't willing to share names of contacts they fear will then be required to quarantine.
  • Covid-19 quarantine periods can be as short as seven to 10 days for some people, the US Centers for Disease Control and Prevention said Wednesday, but a 14-day quarantine after coronavirus exposure remains the safest option.
10 annotations
  • Schwartz, the vaccination policy researcher at the Yale, and his colleagues took virus spread into account when making their calculations. If things keep going as they have in the past few weeks, with more than 150,000 new coronavirus cases and about 1,500 deaths — about one every minute — reported daily in the United States, vaccine distribution would need to move lightning fast to prevent millions more deaths. “If we’re at that [high level of transmission], even a highly effective vaccine will struggle to make a dent in the trajectory of the pandemic,” Schwartz says.
  • “The logistics just keep going,” Turley says. From Borneo to Paris to Charlotte, N.C., how best to distribute vaccines is a problem people are facing everywhere, she says. “The only consolation is that everybody is grappling with this, and that’s really no consolation to any of us.”
  • For comparison, Sanae points out that the demand for widespread COVID-19 testing initially took many people by surprise. “If we went back to January and I told you we’d be collecting testing samples in a parking lot, you’d probably laugh at me,” he says. But that’s what it may take to get vaccines distributed as widely as tests are. He envisions every school, government and community testing center converted to vaccination clinics, along with doctors’ offices, pharmacies, hospitals and other clinics.
  • “If I vaccinate people and can’t provide a second dose, that’s not meeting a moral and ethical obligation,” Turley says.
  • Such freezers are just one link in a “cold chain” needed to keep the vaccines fresh and effective. But the chain is fragile. The World Health Organization estimates that about 2.8 million doses of vaccines were lost in five countries in 2011 because the cold chain was broken. That includes losses in countries such as Nigeria, where 41 percent of refrigerators were nonfunctional, and Ethiopia, which had about 30 percent of its cold-chain equipment go kaput. Losing millions of doses of COVID-19 vaccines could be disastrous for getting a handle on the pandemic.
  • has assured health officials in the United States that its vaccine can be held for up to 15 days in its pizza boxes with dry ice recharges every five days and then spend another five days in the refrigerator before going bad, Seetoo says. That gives officials about 20 days to distribute the vaccine once they receive it.
  • Even regular freezers, such as those needed to store Moderna’s vaccine, may be a challenge in some areas. “There’s lots of places where you can’t get a cold Coke,” Hu says.
  • Much of the need for cold shipping is seasonal, such as avocado season in South Africa and Mexico. ”If the vaccine season hits South Africa at the same time as avocado season [and] there’s not a whole lot of capacity for carrying avocados,” Townley says, “what does that do to South Africa’s economy?”
  • To get a sense of the task ahead, imagine “putting two iPhones in the hands of every single human on the planet, and make sure those iPhones are cold when they get there,” Townley says. Refrigerated and freezer trucks, planes and trains that can transport such chilly goods aren’t in huge supply. Cold transportation is also necessary to move bacon, avocados and many other foods and medicines, such as insulin, Townley says. “Normal systems are not built to take on this large of a challenge in this short of a time frame,” he adds.
  • Even a vaccine that is only 50 percent effective in preventing disease could quell the pandemic if it were distributed quickly enough, says study coauthor Jason Schwartz, a vaccination policy researcher at the Yale School of Public Health. “Implementation matters.”
  • Management of the vaccine rollout is a key variable — at least as important as vaccine efficacy — in the equation determining how well a vaccine will quell the pandemic, researchers reported November 19 in Health Affairs. Researchers considered different scenarios, figuring in vaccine effectiveness, the pace at which people could be vaccinated (depending both on delivery systems and public willingness) and how quickly the virus spreads.
  • “The vaccine race now is not a race out of the lab. It’s a race to the patient,” he says. And the most successful vaccines, Townley says, will be those made by the companies that pay the most attention to the last mile of the race.
  • In normal times, potential vaccines have only a 10 percent chance of making it from Phase II clinical trials — which test safety, dosing and sometimes give hints about effectiveness — to approval within 10 years, researchers reported November 24 in the Annals of Internal Medicine. On average, it takes successful vaccines over four years to go from Phase II trials to full regulatory approval.
  • Already, two companies have announced that their vaccines appear safe and about 95 percent effective (SN: 11/18/20, SN: 11/16/20). Government regulators in the United Kingdom granted permission December 2 for emergency use of a vaccine made by the pharmaceutical company Pfizer and its German biotech partner BioNTech. The first doses could be delivered within days of the announcement. Emergency use authorization and even full approval of the vaccines is probably not far off in the United States and other countries.
14 annotations
  • Financial expert and New York Times best-selling author Suze Orman's "The 9 Steps to Financial Freedom: Practical and Spiritual Steps So You Can Spot Worrying" explains how people's relationships with money are influenced by their emotions.
  • save more money
  • In this book, Orman offers tips for paying off debt,
  • retirement accounts, and more. 2/11 2. 'The Total Money Makeover: A Proven Plan for Financial Fitness' by Dave Ramsey A simple, straightforward game plan for fixing your money habits. Amazon "The Total Money Makeover: A Proven Plan for Financial Fitness" is financial expert, radio host, and New York Times best-selling author Dave Ramsey's most popular book. In this revised and updated version, Ramsey distills his two decades of financial counseling experience into a seven-step plan for gaining total control over your money. 3/11 'Rich Dad Poor Dad: What the Rich Teach Their Kids About Money - That the Poor and Middle Class Do Not!' by Robert Kiyosaki Kiyosaki outlines important money lessons he learned from important figures in his life. Amazon This may sound like a book solely for dads, but it's not. Robert Kiyosaki's New York Times best-seller "Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!" is about two "dads" who taught the Kiyosaki different perspectives about money: his actual father and his best friend's father. Kiyosaki uses the lessons he learned from his father figures to offers practical yet slightly counterintuitive financial advice, arguing that you don't need a high income to become wealthy and that a house isn't an asset, among other things. 4/11 4. 'Think and Grow Rich: The Landmark Bestseller - Now Revised and Updated for the 21st Century' by Napoleon Hill and Arthur Pell A revised version of the 1937 "Think and Grow Rich" original. Amazon Although "Think and Grow Rich" was originally published in 1937, its wisdom has stood the test of time. In the book, author Napoleon Hill presents his laws of financial success, which are drawn from his analysis of the lives of millionaires like Andrew Carnegie and Henry Ford. The updated version also features contemporary successful figures, like Bill Gates and Mary Kay Ash. 5/11 5. 'Secrets of Six-Figure Women: Surprising Strategies to Up Your Earnings and Change Your Life' by Barbara Stanny Stanny interviewed 150 women who made between $100,000 and $7 million. Amazon After conducting extensive research and interviewing hundreds of women who earn six-figure salaries, Barbara Stanny boiled down their insights to seven key strategies for achieving wealth. The journalist, motivational speaker, and financial educator discusses these methods in detail in "Secrets of Six-Figure Women: Surprising Strategies to Up Your Earnings and Change Your Life." For many people, saving more means earning more, and this book is a great place to start. 6/11 6. 'Unshakeable: Your Financial Freedom Playbook' by Tony Robbins Robbins is a life and business strategist who has coached more than 50 million people from 100 countries. Amazon New York Times best-selling author and motivational guru Tony Robbins collaborated with financial advisor Peter Mallouk for "Unshakeable: Your Financial Freedom Playbook." The book outlines how you can achieve financial peace of mind, boost your retirement savings, and make smart investments. 7/11 7. 'Love Your Life, Not Theirs: 7 Money Habits for Living the Life You Want' by Rachel Cruze Cruze shows you how to reframe your mentality about money. Amazon "Love Your Life, Not Theirs: 7 Money Habits for Living the Life You Want" is based on the concept that comparing yourself to others is a damaging habit — not only mentally, but also financially. New York Times best-selling author Rachel Cruze discusses how you can live the life you want by following seven core financial habits, like reframing the way you think about money, living on a plan, and avoiding debt. 8/11 8. 'The Automatic Millionaire, Expanded and Updated: A Powerful One-Step Plan to Live and Finish Rich' by David Bach Find out Bach's secret to becoming a millionaire. Amazon New York Times best-selling author David Bach wrote "The Automatic Millionaire, Expanded and Updated: A Powerful One-Step Plan to Live and Finish Rich" to address a question he had been asked repeatedly over the years: What's the secret to becoming a millionaire? His answer begins with an illustrative story of a couple making $55,000 a year who, through smart money management, put their kids through college, own two homes debt-free, and retired early with $1 million in the bank. He goes on to detail a practical system, complete with resources like websites and apps, that you can immediately put to work to help secure your finances. 9/11 9. 'The Financial Diet: A Total Beginner's Guide to Getting Good with Money' by Chelsea Fagan This personal finance book offers tips for making a budget, understanding investments, and dealing with credit. Amazon For younger readers looking to grasp basic financial principles, like creating a budget and managing credit, "The Financial Diet: A Total Beginner's Guide to Getting Good with Money" by Chelsea Fagan is a great choice. The author draws on expert advice to offer readers the tools they need to reach financial stability. It was named Best Book of 2018 by Refinery29 and was chosen as one of Real Simple's Most Inspiring Books for Graduates. 10/11 10. 'Broke Millennial: Stop Scraping By and Get Your Financial Life Together' by Erin Lowry Lowry shows readers, step-by-step, how to go from broke to financially savvy. Amazon A Washington Post "Color of Money" book club pick, "Broke Millennial: Stop Scraping By and Get Your Financial Life Together" uses humor, simple advice, and true stories to help young adults establish financial stability. Financial expert Erin Lowry addresses general money concepts, such as your relationship with money, as well as specific scenarios, like what to do when friends want to split a check evenly and you can only afford to cover the cost of your individual order. 11/11 11. 'You Are a Badass at Making Money: Master the Mindset of Wealth' by Jen Sincero Uncover what's holding you back from making money with Sincero's tips. Amazon New York Times best-selling author Jen Sincero urges readers to get past the stumbling blocks and fears that are keeping them from reaching financial success in "You Are a Badass at Making Money: Master the Mindset of Wealth." As someone who went through a positive financial transformation herself — going from living in a converted garage to jet-setting around the globe — Sincero has plenty of personal insights to share. In the book, she instructs readers how to tap into their natural money-making abilities, stop being victims to circumstances, and relate to money in a new way. Previous 1/11 Next SEE ALSO: 12 clever ways to save money every day, according to financial experts More: Features BI-freelancer Money Books Personal Finance financial advice BIStrategy     by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links Recommended from the WebBabbelLanguage expert shares the secret to learning a language in 20 mins a dayBabbelUndoDrone 720XSelfie Quadcopter Shocks $country capitalized$. 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  • retirement accounts, and more. 2/11 2. 'The Total Money Makeover: A Proven Plan for Financial Fitness' by Dave Ramsey A simple, straightforward game plan for fixing your money habits. Amazon "The Total Money Makeover: A Proven Plan for Financial Fitness" is financial expert, radio host, and New York Times best-selling author Dave Ramsey's most popular book. In this revised and updated version, Ramsey distills his two decades of financial counseling experience into a seven-step plan for gaining total control over your money. 3/11 'Rich Dad Poor Dad: What the Rich Teach Their Kids About Money - That the Poor and Middle Class Do Not!' by Robert Kiyosaki Kiyosaki outlines important money lessons he learned from important figures in his life. Amazon This may sound like a book solely for dads, but it's not. Robert Kiyosaki's New York Times best-seller "Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!" is about two "dads" who taught the Kiyosaki different perspectives about money: his actual father and his best friend's father. Kiyosaki uses the lessons he learned from his father figures to offers practical yet slightly counterintuitive financial advice, arguing that you don't need a high income to become wealthy and that a house isn't an asset, among other things. 4/11 4. 'Think and Grow Rich: The Landmark Bestseller - Now Revised and Updated for the 21st Century' by Napoleon Hill and Arthur Pell A revised version of the 1937 "Think and Grow Rich" original. Amazon Although "Think and Grow Rich" was originally published in 1937, its wisdom has stood the test of time. In the book, author Napoleon Hill presents his laws of financial success, which are drawn from his analysis of the lives of millionaires like Andrew Carnegie and Henry Ford. The updated version also features contemporary successful figures, like Bill Gates and Mary Kay Ash. 5/11 5. 'Secrets of Six-Figure Women: Surprising Strategies to Up Your Earnings and Change Your Life' by Barbara Stanny Stanny interviewed 150 women who made between $100,000 and $7 million. Amazon After conducting extensive research and interviewing hundreds of women who earn six-figure salaries, Barbara Stanny boiled down their insights to seven key strategies for achieving wealth. The journalist, motivational speaker, and financial educator discusses these methods in detail in "Secrets of Six-Figure Women: Surprising Strategies to Up Your Earnings and Change Your Life." For many people, saving more means earning more, and this book is a great place to start. 6/11 6. 'Unshakeable: Your Financial Freedom Playbook' by Tony Robbins Robbins is a life and business strategist who has coached more than 50 million people from 100 countries. Amazon New York Times best-selling author and motivational guru Tony Robbins collaborated with financial advisor Peter Mallouk for "Unshakeable: Your Financial Freedom Playbook." The book outlines how you can achieve financial peace of mind, boost your retirement savings, and make smart investments. 7/11 7. 'Love Your Life, Not Theirs: 7 Money Habits for Living the Life You Want' by Rachel Cruze Cruze shows you how to reframe your mentality about money. Amazon "Love Your Life, Not Theirs: 7 Money Habits for Living the Life You Want" is based on the concept that comparing yourself to others is a damaging habit — not only mentally, but also financially. New York Times best-selling author Rachel Cruze discusses how you can live the life you want by following seven core financial habits, like reframing the way you think about money, living on a plan, and avoiding debt. 8/11 8. 'The Automatic Millionaire, Expanded and Updated: A Powerful One-Step Plan to Live and Finish Rich' by David Bach Find out Bach's secret to becoming a millionaire. Amazon New York Times best-selling author David Bach wrote "The Automatic Millionaire, Expanded and Updated: A Powerful One-Step Plan to Live and Finish Rich" to address a question he had been asked repeatedly over the years: What's the secret to becoming a millionaire? His answer begins with an illustrative story of a couple making $55,000 a year who, through smart money management, put their kids through college, own two homes debt-free, and retired early with $1 million in the bank. He goes on to detail a practical system, complete with resources like websites and apps, that you can immediately put to work to help secure your finances. 9/11 9. 'The Financial Diet: A Total Beginner's Guide to Getting Good with Money' by Chelsea Fagan This personal finance book offers tips for making a budget, understanding investments, and dealing with credit. Amazon For younger readers looking to grasp basic financial principles, like creating a budget and managing credit, "The Financial Diet: A Total Beginner's Guide to Getting Good with Money" by Chelsea Fagan is a great choice. The author draws on expert advice to offer readers the tools they need to reach financial stability. It was named Best Book of 2018 by Refinery29 and was chosen as one of Real Simple's Most Inspiring Books for Graduates. 10/11 10. 'Broke Millennial: Stop Scraping By and Get Your Financial Life Together' by Erin Lowry Lowry shows readers, step-by-step, how to go from broke to financially savvy. Amazon A Washington Post "Color of Money" book club pick, "Broke Millennial: Stop Scraping By and Get Your Financial Life Together" uses humor, simple advice, and true stories to help young adults establish financial stability. Financial expert Erin Lowry addresses general money concepts, such as your relationship with money, as well as specific scenarios, like what to do when friends want to split a check evenly and you can only afford to cover the cost of your individual order. 11/11 11. 'You Are a Badass at Making Money: Master the Mindset of Wealth' by Jen Sincero Uncover what's holding you back from making money with Sincero's tips. Amazon New York Times best-selling author Jen Sincero urges readers to get past the stumbling blocks and fears that are keeping them from reaching financial success in "You Are a Badass at Making Money: Master the Mindset of Wealth." As someone who went through a positive financial transformation herself — going from living in a converted garage to jet-setting around the globe — Sincero has plenty of personal insights to share. In the book, she instructs readers how to tap into their natural money-making abilities, stop being victims to circumstances, and relate to money in a new way. Previous 1/11 Next SEE ALSO: 12 clever ways to save money every day, according to financial experts More: Features BI-freelancer Money Books Personal Finance financial advice BIStrategy     by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links Recommended from the WebBabbelLanguage expert shares the secret to learning a language in 20 mins a dayBabbelUndoDrone 720XSelfie Quadcopter Shocks $country capitalized$. The Idea Is IncredibleDrone 720XUndoBlinkistThis Woman Reads 100 Books A MonthBlinkistUndoSave70.comHotels In Taiwan At Ridiculously Low PricesSave70.comUndoCruise-Compare.comIf you live in Tainan City you're eligible for these incredible cruise offersCruise-Compare.comUndoDelta WarsPlay this Game for 1 Minute and see why everyone in Tainan is addictedDelta WarsUndoForge Of Empires - Free Online GameThe Must-Play City Building Game of the YearForge Of Empires - Free Online GameUndowww.therapywithsaba.com4 Common Types of Prescription Drugs with High Addiction Potentialwww.therapywithsaba.comUndowww.bleubloom.com4 Healthy Smoothie Recipes To Make On The Gowww.bleubloom.comUndoTrips ShopPeople from Taiwan cannot believe these flight pricesTrips ShopUndo by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksVideos You May LikeJIM ROGERS: The worst crash in our lifetime is comingUndoThis London-based food truck only sells cheese sandwiches — here’s how they’re madeUndoA hair surgeon explains what's going on with Trump's hairUndoEverything we know about the mysterious SR-72 — Lockheed Martin's successor to the fastest plane everUndo     by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links From The WebGrepolis - Online Free GameAre You Ready to Conquer Ancient Greece? Already 35 Million PlayersGrepolis - Online Free GameUndoVikings: Free Online GamePlay this for 1 minute and see why everyone is addictedVikings: Free Online GameUndo
  • n this revised and updated version, Ramsey distills his two decades of financial counseling experience into a seven-step plan
6 annotations
 business and industrial 4374
  • Added Zentner, who is bullish on economic growth in 2021, “We have got to get past a really big hurdle here. The winter of discontent, if you will. It’s not looking very good.”And sadly, even new stimulus checks wouldn’t be enough to stop the said discontent.
  • Nearly half of Americans polled said they are cutting back on holiday spending versus last year. Roughly 36% said they would spend about the same on gifts year-over-year. But, one-in-10 Americans conceded they will not spend money on holiday gifts for others at all this year.
  • Meanwhile, U.S. retail sales in October rose at their slowest rate since the spring, according to new data out of the Commerce Department last week. Retail sales rose a seasonally adjusted 0.3% in October, far slower than the 1.6% gain in September. Retailers such as Macy’s and Kohl’s reported very weak third quarters this week, too.
  • “I think there is a huge demarcation here we have to draw between what’s going on in the near-term [with the economy] — which we think is not going to be pretty — versus what things will look like getting further into next year,” warned Morgan Stanley Chief U.S. economist Ellen Zentner on Yahoo Finance Live.
  • About 53% of people surveyed would take the money and pay down bills, 43% said they would use it for necessities, 39% are inclined to rebuild personal savings and another 30% are keen on using the funds for their rent/mortgages. Only 22% polled said they would spend new stimulus checks on holiday gifts.
  • A fresh round of stimulus from a bickering U.S. government may do nothing more than plug a hole in the worsening finances of COVID-19 impacted households. In other words, those on the Street expecting a jolt to economic growth from rampant frivolous consumer spending could be quite misguided.
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  • In the meantime, the consequences of missing payments can be dire — borrowers may have to pay extra in fines, could eventually fall into default and see their credit score take a hit.“Nothing is guaranteed until it’s really there,” said Griffin Rubin. “Don’t hold out for some decision to be made.”
  • “While we all want and hope for Congress to provide financial relief for borrowers that are struggling, we have to be mindful of the fact that we can’t hope and pray for Congress to pass anything in an environment that’s more politically divided than we’ve ever seen,” said Will Sealy, co-founder and CEO of Summer.  
  • If you’re not sure what you should do or have a question about your specific situation, it’s best to contact your lender directly for help, said Griffin Rubin, adding that there’s no penalty to making a change before payments resume.“Just because you get set up doesn’t mean you have to make payments right away,” she said.
  • Unemployment deferment will generally pause monthly payments for a total of 36 months, but borrowers will have to reapply every six months and show proof of unemployment benefits and that they’re actively seeking work. Interest will also be paused but only for subsidized loans — it will continue to accrue for loans that are unsubsidized.
  • Those already on an income-driven repayment plan should make sure they’ve recertified before January, especially if their annual date was during the pause period. If you’re already on an income-driven plan and still can’t pay your monthly bill, recertifying or asking for a recalculation given your current situation can potentially lead to a lower amount.
  • Those on a standard repayment plan can switch to an income-driven one, which will generally lower monthly payments by increasing the time it will take to pay off the loan in full, said Bridget Haile, head of borrower success at Summer, a company that helps borrowers simplify and save on student debt.
  • For those who haven’t been negatively financially impacted by the pandemic, it may be a good time to increase monthly amounts to pay off their loans faster.“The name of the game is paying the least amount over time,” she said.
  • “It’s worth the investment of your time to make sure that you’re clear on what your plan is going forward, so that you don’t get caught off guard,” said Williams, who is also a member of the CNBC Financial Advisor Council.
  • After nine months of skipping student loan payments, borrowers may be out of the habit or used to putting cash aside for other things, such as building up an emergency fund or paying down other debt.
  • But it’s far from clear that another extension will come from Trump, and the government has been unable to reach a deal on any further stimulus in the meantime. Now, student loan experts are telling borrowers to brace for the pause to lapse and payments to restart in 2021.“Borrowers should sort of prepare for the worst and hope for the best,” said Betsy Mayotte, president and founder of the Institute of Student Loan Advisors.
  • If you’re like more than 37 million student loan borrowers, you probably haven’t made a single payment to your education debt since March, when bills were put on hold due to the coronavirus crisis.
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  • When injected into people, it causes some cells to produce little pieces of this spike protein, which the immune system recognizes and develops antibodies and immune cells to attack. So when a vaccinated person is exposed to the real virus, the immune system is already primed to neutralize it quickly.
  • "The companies have developed specially designed, temperature-controlled thermal shippers utilizing dry ice to maintain temperature conditions of -70°C," they added."They can be used be as temporary storage units for 15 days by refilling with dry ice. Each shipper contains a GPS-enabled thermal sensor to track the location and temperature of each vaccine shipment across their pre-set routes leveraging Pfizer's broad distribution network."
  • The 150 clinical trials sites in United States, Germany, Turkey, South Africa, Brazil and Argentina will continue to collect information about efficacy and safety for two more years.1.3 billion doses expected in 2021"Based on current projections, the companies expect to produce globally up to 50 million vaccine doses in 2020 and up to 1.3 billion doses in 2021," they said.
  • "Approximately 42% of global participants and 30% of U.S. participants have racially and ethnically diverse backgrounds, and 41% of global and 45% of U.S. participants are 56-85 years of age," Pfizer said.
  • The Phase 3 clinical trial of the vaccine began on July 27. Pfizer said of 43,661 volunteers enrolled, 41,135 have received a second dose of the vaccine or placebo. The FDA said it wanted at least two months of safety tracking on volunteers after they got their second shots.
  • "The rapid protection this vaccine provides -- combined with its tolerability profile in all age groups studied so far -- should help make this vaccine an important tool to address the current pandemic," Sahin said in the release.
  • Pfizer said it will seek US Food and Drug Administration emergency use authorization "within days." BioNTech CEO Dr. Ugur Sahin told CNN's Frederik Pleitgen in an interview on Wednesday that the companies will file for an EUA on Friday."These data also will be submitted to other regulatory agencies around the world," Pfizer said in its news release. They plan to publish the data in a peer-reviewed scientific journal, as well.
  • "The only Grade 3 (severe) solicited adverse event greater than or equal to 2% in frequency after the first or second dose was fatigue at 3.7% following dose 2," the companies said. Older adults tended to have fewer adverse events and those they had were milder.
  • An independent group has been keeping an eye on results and side-effects. "To date, the Data Monitoring Committee for the study has not reported any serious safety concerns related to the vaccine," the companies said.
  • "There were 10 severe cases of Covid-19 observed in the trial, with nine of the cases occurring in the placebo group and one in the BNT162b2 vaccinated group." BNT162b2 is the experimental name for the vaccine.
  • "Efficacy was consistent across age, race and ethnicity demographics. The observed efficacy in adults over 65 years of age was over 94%," Pfizer and its German partner BioNTech said in a joint statement.
  • The company counted 170 cases of coronavirus infection among volunteers who took part in the trial. It said 162 infections were in people who got placebo, or plain saline shots, while eight cases were in participants who got the actual vaccine. That works out to an efficacy of 95%, Pfizer said.
  • A final analysis of the Phase 3 trial of Pfizer's coronavirus vaccine shows it was 95% effective in preventing infections, even in older adults, and caused no serious safety concerns, the company said Wednesday.
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  • He has access to different types of investments (preferred stock, venture capital) that are often unavailable to non-wealthy people.
  • More than half of the company’s value is tied up in its stakes of Kraft, Coca-Cola, Wells Fargo, and IBM. Nearly 40% of Berkshire’s portfolio stems from the consumer staples sector, while another 30% is tied up in financials.
  • Buffett has said he hasn’t invested in tech because he doesn’t understand it. While it’s wise to avoid investing in something you don’t understand, it also means he’s missed out on some big gains over the years.
  • You’re Better Off With Mutual Funds and ETFs
  • investing like Warren Buffett isn’t easy, and an examination of Berkshire’s holdings indicates that average investors might not necessarily benefit by following his every move.
  • He Sometimes Invests With His Heart, Not His Head
  • He’s Missed Out on Technology
  • When tech took off in the 1990s, Warren Buffett was not on board. No big investments in Microsoft, Apple, or Cisco.
  • Warren Buffett is a great stock picker
  • But for most people, it’s foolish to try to invest in individual companies and expect to beat the broader stock market.
  • Mutual funds and exchange-traded funds offer the ability to invest in the broader stock market
  • Berkshire Hathaway’s investment motives, however, are far more complex. While it is focused on building wealth over the long-term, it also makes decisions to please its shareholders in the short-term. It makes acquisitions that don’t make sense immediately, but have a broader strategic valu
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 investing 6045
  • Solutions
  • One important challenge is what is known in economics as the free rider problem: If the knowledge produced by vaccine R&D is openly available, then this will lower the incentive for individual countries to invest in its generation. Another major challenge has to do with the question of whether, relative to market forces, central decision-making represents an effective way to identify promising vaccine candidates.
  • The challenge of motivating private investment in new vaccine development is compounded by the fact that the necessary expenditures carry substantial opportunity costs for big pharmaceutical companies.
  • , investing in a vaccine that meets these challenges is a daunting prospect.
  • In addition to the constraint of low ability to pay in important markets, a vaccine may end up not being profitable because of competition from other vaccine developers and potential substitutes in the form of effective antimicrobials and other biomedical countermeasures, such as monoclonal antibodies.
  • In addition to being expensive, vaccines typically take many years to develop, test, manufacture at scale, and distribute.
  • include the high costs and long time horizons involved, substantial risk of R&D failure, potential constraints on demand, the inherent difficulties of collective financing, and issues of political economy.
  • Challenges
  • The world needs robust mechanisms to advance the development, manufacture, and distribution of safe, effective, and affordable vaccines against diseases of epidemic potential, especially those that threaten primarily poorer countries.
  • Many observers have described a cycle of “panic and neglect” when it comes to investing in preventive measures against diseases of epidemic potential
  • The world’s continued failure to produce high-quality vaccines against tuberculosis, malaria, and human immunodeficiency virus—the three biggest infectious disease killers globally—and the lengthy delays witnessed in finalizing an Ebola vaccine despite early promise emblematize the shortcomings of the system.
  • However, the current model of vaccine R&D and manufacturing is significantly less effective for diseases that almost exclusively affect lower-income countries
  • ‘Panic and neglect’
  • How do we make sure we are investing in the correct ounces? And how will we pay for these investments?
  • Our approach to vaccine finance is ill-suited to addressing epidemic ris
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  • Also, the study measured breath alcohol concentrations, which are on average 15% lower than blood alcohol concentrations
  • The study has some limitations. A person is unlikely to keep their phone strapped to their back, and changing its location, by carrying it or putting it in a bag or pocket, for example, could affect the results
  • By analyzing the data, the researchers found that 92.5% of the time, they could determine that a participant would have exceeded the legal limit of a blood alcohol concentration of 0.08
  • The sensors on the smartphones measured each participant’s acceleration, their movements from side to side, and their movements up and down.
  • Smartphones could represent an alternative: 81% of people in the U.S. own smartphones, and the vast majority of smartphones have sophisticated sensors that can determine if a person is drunk
  • While devices such as portable breath analyzers are available, there are barriers to their use: They are expensive, and social stigma may stop a person from using one on a night ou
  • Alcohol consumption can impede cognitive and motor performance — the ability to think clearly and move in a careful and controlled way. This increases the risk of harming oneself or someone else
  • According to the National Institute on Alcohol Abuse and Alcoholism, alcohol use is the third leading cause of preventable death in the U.S., behind smoking and issues concerning physical activity and diet
  • New research has found that a smartphone can accurately detect whether the person who has it is drunk, based on how they are walking
  • Smartphones measuring walk could detect drunkenness
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  • After you make a good money decision, put it on autopilot. That way, you won’t forget to stash away money or pay bills
  • Automate everything
  • Think critically about how your mortgage or rent, along with the cost of your vehicles, fit your financial life.
  • Reconsider housing and cars
  • Your creditworthiness matters to your financial life, far beyond qualifying for a new loan. People with better credit live easier and less expensively. At minimum, learn about the main factors that affect your credit: payment history, credit utilization, credit history length and credit mix.
  • Monitor credit
  • Money advice online is abundant, but don’t forget about at-home digital access at your unsung public library. Beginners can check out the book “Personal Finance for Dummies.” Or you can consult Consumer Reports to get better products for the money you spend.
  • Deepen money smarts
  • Develop a plan for paying down debt. Two popular strategies: Pay extra toward debt with the highest interest rate (debt avalanche) or pay extra toward the smallest debts to wipe them out quickly and get a sense of accomplishment (debt snowball).
  • Plan debt payment
  • When a recurring expense makes the cut, try to get a better price — we’re looking at you, cable, internet and cellphone bills.
  • Assess spending
  • Calculate your current net worth (all you own minus all you owe); calculate a nest egg amount for retirement.
  • This is the obligatory recommendation to develop a household budget, perhaps using the 50/30/20 method to divvy up needs, wants, and savings or debt repayment.
  • Set goal
  • “What separates successful people from people who struggle financially is often how they spend the time they are given each day.
  • Smart Money Moves When Cash Is Tighter Than Time
  • “If you have time but no money, it's time to become the best version of yourself,”
  • optimize that extra time by making smart financial moves that won’t cost a dime.
  • Smart Money Moves When Cash Is Tighter Than Time
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  • Avoid masks with a valve in the front. That valve lets unfiltered air out, so it won't protect other people if you're contagious. And after all, protecting others is one of the main reasons to wear a mask in the first place.
  • air from the sides. Even so, surgical masks provide some benefit to the wearer as well: Laboratory testing has found that surgical masks block out 75% of respiratory-droplet-size particles.
  • . (Note: It has to cover your nose as well as your mouth.)
  • Researchers will tell you that masks won't provide full protection. And teasing out the science of masks will take time.
  • that this could dramatically reduce transmission of the virus and help prevent future waves of the pandemic
  • "The more people that were wearing a mask, the more protective it was," says MacIntyre, head of the biosecurity program at the Kirby Institute at the University of New South Wales in Australia. In other words, when everyone wore a mask, it protected the whole household.
  • The study found that in households where everyone was wearing a face mask indoors as a precaution before they knew anyone who lived there was sick, the risk of transmission was cut by 79%
  • It found that even loose-fitting surgical masks blocked almost all the contagious droplets the wearers breathed out and even also some infectious aerosols — tiny particles that can linger in the air
  • They're going to slam into the cloth mask. I think even a low-quality mask can block a lot of those droplets
  • but the stronger evidence is that masks protect others from catching an infection from the person wearing the mask. And infected people can spread the virus just by talking.
  • It's understandable if some people remain skeptical, since, at the beginning of the pandemic, public health officials in the U.S. said the general public didn't need masks. But that changed as it became clear that infected people can spread the coronavirus before they even show symptoms of COVID-19 or even if they never show symptoms
  • "I personally think that face masks are a key component of the non-pharmaceutical arsenal we have to combat COVID-19," says Shaman.
  • , if there is a policy around using face masks in place, it does actually come with a fairly large effect,"
  • While politicians spar over the topic, a growing number of scientific studies support the idea that masks are a critical tool in curbing the spread of the coronavirus.
  • People opposed to mask mandates have staged protests, and one local health official in Orange County, Calif., quit her job after receiving a death threat for a mask order.
  • Yes, Wearing Masks Helps. Here's Why
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  • “Racism is a pandemic just like Covid-19 is a pandemic,” Casey said. “But we’ve been dealing with the coronavirus for, what, four months? We’ve had systematic oppression for 400-plus years.”
  • Some researchers have also linked the constant stress of being marginalized to a phenomenon called “weathering” – which accelerates ageing on a genetic level.
  • But pervasive discrimination within the medical system also contributes to bad health outcomes, she noted. “Black people aren’t believed when they’re in pain,” she said.
  • Housing segregation and racist housing policies have limited access to education and healthcare, and left minorities disproportionately exposed to toxic and cancer-causing chemicals in the water they drink, the air they breathe.
  • By focusing on health, activists were able to capture all the racist institutional and social structures that erode the wellbeing of Black and Brown people, Casey explained.
  • “If you declare something an emergency, you’re also saying it’s imperative to address the problem,” Agwu said.
  • In Cleveland, officials introduced the landmark resolution recognizing racism as a health emergency in early March, before the coronavirus pandemic had hit the city, and months before the demonstrators against police brutality took to the streets nationwide
  • Maternal mortality rates for Black women are two to three times greater compared to white women, and neighborhoods where the majority of residents are Black have the highest rates of lead poisoning.
  • Now, amid a national reckoning with entrenched inequality, lawmakers are finally hearing those alarms – and officially declaring racism a public health emergency
  • These declarations are “long overdue”, said Dr Allison Agwu, an infectious disease specialist and associate professor at Johns Hopkins School of Medicine. As a physician on the frontlines of the coronavirus pandemic, Agwu said she had been amazed at how quickly the medical establishment mobilized to develop diagnostic tests, and produce thousands of research papers seeking a treatment and vaccine
  • ‘Long overdue’: lawmakers declare racism a public health emergency
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  • The shared metrics and guidance will be incorporated into a number of initiatives and sites focused on COVID-19 response,
  • The idea is to take some of the guesswork out of the policy response at a local level, says Graeden, and offer a more standardized way to communicate the risk and the response options.
  • But in the absence of that clear guidance, this collaboration aims to fill the void.
  • , the risk levels are meant to signal the intensity of the effort needed to control COVID-19 and to trigger specific interventions
  • For the public, this means you can now compare the case incidence where you live to that of, say, a nearby county where you're considering going on an errand.
  • "It allows you to compare a rural area in upstate New York compared to New York City and have an apples-to-apples comparison for relative impact and relative caseload,"
  • This effort represents the consensus of eight institutions and more than a dozen individual experts who have agreed on these metrics.
  • What we really need is a shared vocabulary
  • This is by no means the only attempt to categorize risk levels across the United States. There are a number of frameworks out there using different measures. And that can lead to confusion, says Allen.
  • A community that has fewer than one daily new case per 100,000 is green. One to 9 is yellow; between 10 and 24 is orange; and 25 and above puts you in the red.
  • The collaboration launched these tools Wednesday, including a new, online risk-assessment map that allows people to check the state or the county where they live and see a COVID-19 risk rating of green, yellow, orange or red. The risk levels are based upon the number of new daily cases per 100,000 people.
  • "That's made it harder for people
  • "There hasn't been a unified, national approach to communicating risk
  • Green, Yellow, Orange Or Red? This New Tool Shows COVID-19 Risk In Your County
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  • and a bigger premium is put on understanding these supply chains in more detail during these times
  • What role will supply chain management software play in the coming years for mitigating these vulnerabilities?
  • To stay ahead of potential security issues, we doubled down on messaging to employees and training our team to be sure they understood the importance of maintaining a secure environment, particularly when working remotely.
  • Another example of the benefits of staying on top of key technology trends is in regard to the current environment for cyber-security
  • One practical way I stay current on technology is by working very closely with our CIO, Rich Murr,
  • This is one of the reasons why I believe it’s vital that CFOs stay current on technology so that they can more effectively understand and use it to help the business adapt during times of change.
  • Technology is no longer a stand-alone function
  • How important is it for finance professionals to understand technology and to be comfortable leading enterprise-wide technology transformation initiatives?
  • Challenges we had to address to clear our path to success included connectivity in certain regions of the world where employees live, and how to effectively work in home environments where some of our employees were in close living conditions with extended families and potential distractions
  • Prioritizing customers is always important, but it becomes increasingly important during times of tremendous change and uncertainty
  • We needed to quickly but accurately re-plan our business for the remainder of the year and understand how to optimize the financial results while balancing the needs of our customers and employees
  • The business planning process during this time has had to be fluid and accelerated
  • Virtual collaboration tools have also been a valuable asset that should be utilized
  • Starting in March I have had a standing weekly All-Hands meetings with my entire organization, which is a great opportunity to maintain that line of communication,
  • Communications in a work-from-home environment are a prime exampl
  • I have found there are some key aspects to leading with a balanced but optimistic voice on a day-to-day basis
  • We must also ensure our voice is balanced with the existing reality and backed by dat
  • What crisis management plans did you have in place prior to COVID? What new plans did you put in place after the crisis hit?
  • we need to be able to carefully listen and understand what these needs are to be able to provide the optimal answer and solutio
  • It is also critically important to learn to listen
  •  Anyone can read numbers off a scorecard or financial statement, but in today’s business environment, finance professionals need to be able to effectively tell the story behind these numbers and have that story resonate with others. 
  • I spend a great deal of my time on activities that require good communication and relationship-building
  • Of course, accounting and planning need to be done well, but those skills need to be coupled with more holistic business-focused skills such as nurturing business partnerships, negotiating, effective customer-facing communications and strategic planning
  • The finance skills are now merely a ticket to entry, in my opinion.
  • In the course of your career, how have you seen the finance role evolve?
  • Saying that finance skills are now just the “ticket to entry” into the profession, Mehok went on to describe why the 21st century CFO needs to be a leader, communicator and strategist
  • Why The CFO Can No Longer Rely On Finance Skills Alone
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  • Other contributors also said that despite lockdown measures easing in their countries, they still tend to avoid public spaces, even though they miss regular human contact
  • For many people, regular day-to-day activities have started to feel like negotiating an obstacle course
  • For example, Adam from the U.K., who has hearing loss, said that while he is convinced that continuing to use face coverings in public is important in curbing the spread
  • Some contributors have pointed out that the “new normal” of taking extra prevention measures when out and about has unintended consequences, too
  • Many told MNT that they feared that a relaxation of restrictions had come too soon in their countries or states, leading to worries about further spikes in COVID-19 case numbers. Yet others expressed an eagerness for things to get back to a prepandemic normal as soon as possible
  • “I think people are definitely more scared this time. People are acting more erratic — you can see that on the roads, at the shops,” one Australian told the BBC
  • Media reports suggest that this has made Australians anxious and worried about what the future might hold.
  • Italy had already started opening businesses in May and continues to relax restrictions
  • Asian countries have also gradually been easing restrictions since June. However, China has placed some neighborhoods in Beijing into lockdown once again, after the authorities reported some spikes in COVID-19 cases in parts of the capital.
  • European countries are steadily opening up businesses and lifting travel restrictions, though spikes in COVID-19 cases continue to occur at the local level.
  • and the Department of Defense had started approving some travel between states, and even internationally, tensions are now on the rise again.
  • “Let me [be] blunt,” he said in the briefing. “Too many countries are headed in the wrong direction. The virus remains public enemy number one, but the actions of many governments and people do not reflect this.”
  • What does life in a 'post-lockdown' world look like
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  • Many teenagers actually want their parents to get more involved in their online worlds
  • After Victoria Beckham made a TikTok video with her son, Romeo, the clip went viral.
  • in their kitchen in November went viral and got more than 200,000 likes.
  • Laughing and being goofy with each other has helped our family bond, but these exchanges are meant solely for the five of us, and we're mindful not to screenshot or forward content to anyone outside of our family, which might embarrass one of us. 
  • When Romeo joined the free social media app, which allows users to watch, create and share short videos, he wanted to stand out from the rest of TikTok's more than 1 billion users. He figured dancing with his famous mom would do it.
  • "Parents can get involved in their child's online life in ways that align with their family' core values," said Jordan Shapiro, author of the book, "The New Childhood; Raising Kids in a Connected World."
  • As I read more about TikTok, I learned that Beckham's hardly the only celebrity parent using the popular app to bond with her children. Courteney Cox, Kourtney Kardashian, Britney Spears, and Mark Cuban also all use TikTok with their kids.
  • Interestingly, many kids feel their parents don't care enough about their online lives, which is a missed opportunity, Graber said.
  • We hear so much about the dangers and problems online, but social media isn't all bad," Graber told Insider. "It's supposed to be social. Watching these videos of Victoria Beckham dancing and laughing with her son reminds us of the positives."
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  • If you're not sure how to diversify, you can simplify things by investing in index funds
  • An S&P 500 index fund, for example, essentially lets you invest in the 500 largest companies trading on the market today.
  • Having a diversified portfolio is essential to investing during a recession, so if you don't have a solid mix of stocks right now, take the opportunity to make some changes
  • 3. Not having a diverse enough portfolio
  • ask yourself whether you're getting a lower price than before, and whether that stock is likely to go up.
  • Therefore, if you see a stock on your wish list available at a discount, don't wait too long to pull the trigger on buying it, or you might lose the opportunity for good
  • Back in mid-March, when stocks plunged into bear market territory, some investors held off on buying, thinking they'd wait for the market to bottom out even more
  • But if your goal is to snag the absolute lowest stock prices out there, you're likely to fail.
  • 2. Trying to snag the lowest stock price
  • As such, unloading stocks the moment they falter is a bad idea. Instead, take losses on paper or on screen in stride, and prepare to see a lot of them
  • And while seeing your portfolio tank on screen or on paper can be extremely upsetting, one thing you must remember is that you don't lose money during a recession until you actually go and sell your investments at a loss.
  • be sure to steer clear of the following mistakes
  • . Dumping your stocks the moment they lose value
  • Now to be clear, investing during a recession is a smart move that could pay off in the long run.
  • We're in a recession, which means you'll need to be even more careful than usual when it comes to investing your money
  • 3 Investing Mistakes to Avoid During a Recession
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  • . "I think we are readily capable of receiving data on a daily basis and reporting those daily data out in a very timely way and making those data available at a pace that is no quicker via the other means of reporting," he said.
  • Caputo of HHS said in a statement the new system was faster than the CDC system, which has "at least a week lag in reporting hospital data,
  • "I'm very surprised that we are being mandated to report into a parallel system when hospitals have gotten used to reporting into NHSN. It's adding burden at a time when hospitals again are now responding to the surge of COVID-19," she adds, "The timing couldn't be worse, to be honest."
  • She adds that the existing system that went to the CDC seemed to be working well. "NHSN is a system that we trust," Pierre says. "It's been around for a long time. It functions very well. It's been built to accommodate all sorts of hospital or health care associated infections, including COVID-19."
  • Pierre says she does not think that this change will make things easier for hospitals. "No matter how user-friendly and innocuous the system is, there will be a period of time where we have to learn about it, how to use it, how to integrate it into our normal daily workflows,"
  • "It was very surprising — shocking even, I would say — for many of us to realize yesterday that we would be now required to report to HHS on [this new] platform," says Cassandra Pierre, acting hospital epidemiologist at Boston Medical Center.
  • "It's entirely unclear why the Trump Administration has asked states and hospitals to upend their reporting systems in the middle of a pandemic — in 48 hours nonetheless — without a single explanation as to why this new system is better or necessary,"
  • The new system was set up by TeleTracking, a private company based in Pennsylvania, which was awarded the $10 million contract in a non-competitive bid in April.
  • As of Wednesday, July 15, hospitals are being instructed by HHS to shelve that system, and instead to report to a new site set up by HHS using a private contractor.
  • Since March, hospitals have reported daily information on the availability of hospital beds, ventilators, and personal protective equipment to an established data collection network run by CDC called the National Healthcare Safety Network or NHSN, which has operated for years.
  • But a top career scientist at the CDC in charge of collecting and analyzing COVID-19 data from hospitals says the new reporting system ignores the agency's valuable expertise and disrupts CDC's decades-long relationships with hospitals.
  • Redfield defended the change in a call with reporters Wednesday, saying it was designed to "streamline reporting.
  • "It's really hard not to see this as some kind of interference or snub [to] the CDC," says University of Arizona epidemiologist Saskia Popescu. "With so many concerns over the politicization of data right now, this is concerning."
  • Public health experts expressed dismay and confusion over the reporting change because of how it could disrupt public access to the data
  • "The President's Coronavirus Task Force has urged improvements for months, but they just cannot keep up with this pandemic."
  • "The CDC's old data gathering operation once worked well monitoring hospital information across the country, but it's an inadequate system today
  • health care experts that the administration was hobbling the ability of the nation's public health agency to gather and analyze crucial data in the midst of a pandemic.
  • But hospitals must now report that information to the Department of Health and Human Services, which oversees the CDC.
  • From the start of the pandemic, the CDC has collected data on COVID-19 hospitalizations, availability of intensive care beds and personal protective equipment.
  • White House Strips CDC Of Data Collection Role For COVID-19 Hospitalizations
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  • Being honest and direct is actually a way of teaching your child to feel hopeful, he says. "Hope isn't about pretending that everything's OK; it's about recognizing that things can be very, very difficult and that in the midst of all of that
  • Build a hopeful vision of the future
  • And be honest, he says, when talking with your child no matter what their age
  • When children are clearly sad or upset, the best gift parents can give them is time, says psychiatrist Joshua Morganstein, spokesperson for the American Psychiatric Associatio
  • Have open and honest conversations
  • Encourage hobbies
  • There are ways for kids to maintain friendships even with all the necessary precautions to avoid transmission.
  • Support kids' friendships
  • Not long after the pandemic began, Evelyn built a fort for herself "a little cozy corner in her room that's totally enclosed with a Harry Potter cape and a Portuguese flag and some other fabric," says Pavao-Zuckerman
  • Create soothing spaces
  • Shift focus from your child's worrisome behavior, says Alvord. Instead pay attention to what's going right and reinforce it
  • Focus on what's working
  • Of course, staying calm clearly isn't always easy and often requires a conscious effort. Create a mini break for yourself to reset your own stress levels.
  • That's because, she says, children and teens pick up the level of stress in their parents.
  • So what are parents to do? The first step in helping your child, she says: Look inward.
  • Model calm
  • What parents need to be on the lookout for, says Alvord are behavior changes that affect day-to-day functioning.
  • She says anxiety can cause stomach aches and headaches, especially among older children.
  • During these stressful times, children may also experience behavior changes like moodiness, anger and even tantrums
  • A number of Jernigan-Noesi's friends tell her their children, 8, 9 and even older are suddenly clingy, following parents around the house, asking them to sit in the bathroom while baths are taken and teeth are brushed
  • As a child psychologist, Jernigan-Noesi knows that when children are emotionally distressed, they may revert to behaviors from earlier childhood.
  • Parents may be stressed themselves, but there are ways to help kids feel better.
  • Kids Feel Pandemic Stress Too. Here's How To Help Them Thrive
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  • I have always thought of saving money the same way. While it would be nice to spend it on something that would give me pleasure, there really isn’t anything important that I don’t already have.
  • Why I need to save more.
  • The numbers look a lot better if I don’t retire until I reach 70. Delaying Social Security until then would give me around $4,000 a month
  • I would receive from Social Security now, or even with the roughly $4,000 I would get if I delayed taking them until I turned 70.
  • Even better, for every month I wait beyond age 66, the monthly benefit goes up 0.66 percent, which works out to be 8 percent a year. (For an excellent primer on how to how to think about applying for Social Security benefits today, see Mark Miller’s “Taking Social Security in the Pandemic: What to Know” which ran in The Times in April.)
  • But during my long quasi lockdown, I realized that the money might come in handy, and I became curious about how much I might receive
  • Make a plan for Social Security benefits.
  • From now on, I am going to put all extra payments toward the one with the highest interest rate, the home equity loan in New Jersey.
  • I’ll manage my debt more aggressively.
  • The goal is more to create peace of mind than to increase my net worth
  • The standard personal finance advice is to have at least three months of living expenses stashed away in something liquid and ultrasafe, “just in case.
  • I’ll try to keep even more cash on hand.
  • But now that things seem to be slowly inching toward normality, I am planning to learn from this crisis and do some major tweaking of my finances
  • Personal Finance Lessons From the Pandemic
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  • Amidst all of the pain, isolation, and destruction of the past six months, it’s not worth it to add on to the strain with two hours of excess Twitter every night
  • Feeling informed can be a salve, but being overwhelmed by tragedy serves no purpos
  • . The act of doomscrolling, then, is to roll toward annihilation. Or, to borrow a phrase from Joan Didion (writing during America’s last traumatic, generation-defining year, 1968), it is an act of slouching toward quietus.
  • Social media is helping people stay connected during lockdown, and as the conversation shifted away from Covid-19 and toward racial justice and the Black Lives Matter movement, it's become a tool for active engagement—spreading news about protests, bail funds, community resources—rather than just a forum for the passive consumption of pandemic updates. Yet the late-night digging, the endless reading of bad news, is draining.
  • Being able to participate in, and then opt out of, excessive social media use is, she notes, a privilege, which is why, when it comes to social media, many black users turn to Verzuz battles on Instagram Live and other forms of black joy as an act of resistance.
  • “So, doomscrolling can lead to the same long-term effects on mental health unless we mount interventions that address users’ behaviors and guide the design of social media platforms in ways that improve mental health and well-being.”
  • The doom and gloom isn’t all the media’s fault, though. Mesfin Bekalu, a research scientist at the Lee Kum Sheung Center for Health and Happiness at Harvard’s T. H. Chan School of Public Health, notes that while a lot of the news is bad, “as humans we have a ‘natural’ tendency to pay more attention to negative news.”
  • “Combine that with the fact that, socially, many of us are not going into work and standing around the coffee maker engaging in collective sense-making, and the result is we don’t have a lot of those social resources available to us in the same way.”
  • it can also lead to anxiety and depression.
  • that means there's a “lot of demand on cognitive processing to make sense of this. There’s no overarching narrative that helps us.” That, she adds, only compounds the stress and anxiety they're already feeling.
  • this habit has become known as doomsurfing, or “falling into deep, morbid rabbit holes filled with coronavirus content, agitating myself to the point of physical discomfort, erasing any hope of a good night’s sleep.”
  • Doomscrolling Is Slowly Eroding Your Mental Health
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  • the real issue is fear! There are a lot lies about investing people actually believe
  • The 2008 crash lasted for only 17 months. The market is up almost 380% in the nine years since the bottom of the crash.
  • When you invest money for the long-term – and that’s the only way you should – you’re playing the averages. And those always work in your favor.
  • , you should never invest in anything you can't explain to your grandmother.
  • The investment industry has made tremendous progress in the past few decades. Through the use of mutual funds, exchange traded funds (ETFs), online investing, and automated investment services, simple investment is now available for the average person.
  • people with lower incomes are less likely to invest. It's probably also a safe assumption people with a lot of debt also avoid it. But what about the rest?
  • If you invest in a diversified portfolio, which is the only way anyone should, there's historically no evidence you'll lose all your money.
  • If you simply ignored the crash, and held through it, not only would you not lose any money, but you'd actually be well ahead
  • You can cut your chances of losing all your money just by avoiding those two mistakes.
  • That's the bad news about that market. But there are actually two pieces of good news that are even more significant:
  • By not investing, you’re not preparing for retirement. And when you reach retirement age, you may be dependent on others to take care of you
  • The Consequences of Not Investing
  • A well-stocked investment portfolio is one of the best protections against job loss and other financial disasters.
  • A 2017 Gallup poll showed only 54% of Americans invest in the stock market, down from 62% in 2008
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  • This is true no matter what challenge you’re facing. Having a mindset that focuses on growth, opportunity, and the possibility of achieving your goals can help guide you to success. Likewise, having a mindset that’s locked in limiting beliefs about wh
  • A money mindset is a belief that you currently have about money. Usually, money mindsets aren’t conscious. You don’t usually decide what money mindsets we have, or how they impact your financial behaviors.
  • Money mindsets are developed based on your experiences. In other words, your culture and identity have helped to shape how you view money as an adult. 
  • A client, Danielle*, recently dealt with an unhealthy money mindset that was impacting her long-term ability to succeed. She was a first-generation college graduate, and she started out-earning her parents at age 26
  • The overwhelming belief that you don’t deserve the money you’re bringing home, even after working hard to earn a degree and to succeed in your career development, can bleed into all areas of your life - and cause you to put yourself in risky financial situations.
  • Being self-aware as you make financial decisions can help you to hit pause and take the full picture of your culture, background, and mindset into account before making a less-than-savvy money move. Remember: you have the power to acknowledge your background and your current money mindset, and choose to change them so that they serve you. 
  • Think about how you feel about money. How do you use it in your life? How does managing your finances make you feel?How did your community view money growing up? Were they living with a fear that resources would dry up? Did they avoid discussing money with you as a kid?Look at your experience, education, and expertise and realize - you deserve the money you’re making. You deserve to live well, and to enjoy your life. If it helps, write yourself a sticky note and put it on the mirror - there’s nothing wrong with earning money, wanting to earn more money, and wanting to use it in a way that makes you happy and supports your goals.Think twice before giving money to family members, or people in your community. It can help to create a line-item in your budget that’s specifically for giving money away. This will help you to prioritize your other financial goals (like emergency savings, retirement savings, or paying off student loans), while still leaving some wiggle room to support the ones you love and care about. Once you spend everything in the “giving” portion of your budget, you can honestly say that you don’t have anything left to give.Set “fun” money goals for yourself. There’s a temptation among first-generation college grads to only set reasonable, safe financial goals. While it’s important to save for the future, it’s also important to enjoy the wealth you have now. Don’t be afraid to set a goal to save for a special vacation, a big purchase, or other non-essential things. As long as your purchases align with your values, and you’re saving and spending wisely, there’s no reason that you don’t deserve to enjoy the money you’ve earned.
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  • So what comes next? Is it a gentle slowdown or something more severe
  • , higher-yielding ­dividend-paying stocks have outperformed the market and have offered an attractive source of return.
  • We do expect growth to fade a bit as tariffs bite, and the impact of the tax cuts from this year won’t be as strong next year
  • Typically bull markets don’t die from old age. But they will die from either a recession or speculative excess. And right now we really don’t see either, although you start to see warning signs in both
  • Is the IPO market also overpriced
  • We don’t follow Tesla. But part of the reason is, their debt’s junk rated. We wouldn’t look at it until it becomes investment grade
  • Our turnover is about 20% a year. And when we make an investment, we are really thinking about a five-year investment time horizon
  • . But there’s another, super-fast-growing part of the business, which is driven by APIs [application programming interfaces, platforms for building new software].
  • Many people are very pessimistic about trade and tariffs—they’re worried about contagion. All you need is some good news there, and you see probably a very rapid rebound and a much better price performance
  • There’s been a lot of concern of late about a slowdown in China’s economy. Kate, how does China shape your thinking right now
  • Many people are looking at places like Argentina or Turkey and saying, “Oh, all emerging markets are this way.” Well, no, ­emerging markets have really shifted to be more China-focused,
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