Tourism stocks rally on news of possible COVID-19 vaccine
Stocks of beleaguered tourism companies rose sharply Monday after drug maker Pfizer’s announcement that its coronavirus vaccine was 90% effective in early trials.The gains for airlines, hotels and cruise lines occurred amid a broader stock market rally reflecting investors’ hopes that a vaccine could soon return economic life back to normal in the United States and beyond.“People are buying those because they see a light at the end of the tunnel,” said Todd Morgan, chairman at Bel Air Investment Advisors.Arguably, no industry has more riding on stopping the pandemic than the cruise industry, p...
Dow Jones soars amid news of 90% effective COVID-19 vaccine candidate
So much for watching your 401(k)s go to hell, as President Donald Trump famously suggested would happen if Democrat Joe Biden won the race for the White House.Not so on Monday, anyway.On Monday, Wall Street bet on the odds that America could indeed get back to work — and back into the gym or mall — if an effective vaccine to fight COVID-19 is discovered.The Dow Jones Industrial Average soared by 4.47% — gaining 1,266.06 points — to trade at 29,589.46 points shortly after 10 a.m., a half an hour after the market opened in New York. The Dow was trading at record levels.Shortly before 11:30 a.m.,...
Detroit Free Press
Demystifying The ‘Dogs of the Dow’ Investing Strategy
As you track your investment portfolio, you will probably compare it against a stock index market like the Dow Jones Industrial Average. As an investor, you want your investments to beat the Dow. The Dogs of the Dow is an investment strategy that attempts to beat the Dow through investment in high value stocks. Let us learn more about the Dogs of the Dow’s history, how it works, and how you can take advantage as an investor.Q3 2020 hedge fund letters, conferences and moreHistory of the Dogs of the DowThe investment strategy can be traced to 1991 when Michael NB. O’Higgins wrote his book, “Beat...
How the DJIA Can Be “Managed” for a Wide Range of Values
Is the Dow Jones Industrial Average (DJIA) really pushing its 2019 year end close during a period of a global coronavirus epidemic? Strangely enough, the answer is dependent on the answer to another question, “what do you mean by the Dow?” That question is particularly germane this year, when the 30 stocks of the Dow have experienced an unusually high turnover of three positions (10%). So the index is not “apples to apples” between even one end and the other of 2020.Q2 2020 hedge fund letters, conferences and moreThe Implications Of Apple's Stock Split For The DowThe catalyst for the change wa...