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You know what, there has been a persistent bid as we call it underneath this market for months, despite the virus and the unemployment it is a puzzle enigma. I am trying to figure out why people keep buying i had an epiphany last night i was going over preparations for my monthly club talk this time looking at it through the lens of the election, it is only 20 days away. You know what . Of the 32 stocks we own for the trust, fully twothirds of them would do better under a biden presidency that caught me by surprise we were trying to bail out the election honestly i have been under the assumption that the market may take a hit if biden wins he wants to raise Corporate Tax and Capital Gains tax and rich people pay your own stocks. Is that good policy . I dont know given biden has been getting some incredible poll numbers the last few weeks it has become a real possibility. Many o ....
Were learning in the wake of the shocking ipo yesterday where buyers seemed indifferent to the share price if you wanted to buy snowflake, you had to sell something else, which triggered a selloff in the nasdaq, and that spread today, with the dow dipping 130 points, and the nasdaq losing 1. 27 . A lot of people call into question what theyre doing paying such high prices. We saw the spectacle of a stock trading at more than 100 times, not earnings, but sales. Dont get me wrong, snowflake should not be about making money, it should be losing money. It makes sense for management to spend fortunes to dominate the cloud Data Management business you want to win, youve got to spend. Snowflake is not the issue, though the ceo will do everything in his power to deliver for shareholders hes got an amazing track record i totally understand why people are willing to pay for the nose for his stock. I liked it even as high as 125 but i jumd ....
From pfizer and after the aresa zenica coming up, the ceo of caesars will join us exclusively to discuss that partnership and the path forward for vegas plus, shares of Advertising SoftwareCompany Trade desk are up more than 50 on the year up more than 200 from the march lows were going to talk to that companys ceo, find out what that move is all about how they managed to outperform and whether the underlying business is looking as strong as the stock. First up though, lets focus on the big stories in this final hour of trade. Mike santoli tracking the Market Action julia is covering new developments in the oracletiktok saga and josh lipton on information on nvidias deal to buy arm holdings start with the come back for tech and the overall market. A pretty broad and strong rally. You have a little psychological boos ....