Commissioner jacobo here. Commissioner tam present. We have a quorum. Our item is item 2, president s announcements. President mccarthy good morning, everybody. Welcome to november 2020 b. I. C. Commission, once again apologizy in advance if i mispronounce anybodys names. Im president of the building inspection commission. And im joined by fellow commissioners and director, Patrick Oriordan and staff. Mayor breed of the Public Health director, the city is unfortunately experiencing another increase in covid cases and hospitalizations. Resulting in more than citywide measures as of november 13 that hopefully will reduce the pandemic infections. D. B. I. Leadership and staff for the ongoing hard work under these complicated circumstances. Even though the Public Health protocols, our new space is open on a limited basis to the public and the department continues to issue permits, conduct and schedule onsite job inspections and respond to complaints and task Code Enforcement steps as warra
Markets. Dow is up 181, 30,150, all three of the averages setting record highs today. Shannon, you have made some very interesting moves in your portfolio, both what you have trimmed and what you have added to first to what you have trimmed apple and microsoft. T tell me why. So really two different stories here, scott. First of all, ill start with microsoft. As i talked about on the show, this is our Largest Holding and remains a very high convince for us we still have a lot of confidence in azure and the endtoend software it offers but from a portfolio perspective, it was time to trim apple, weve seen a significant runup, 75 in the last year and we really feel like a lot of that has come on multiple expansion. Weve gone from about 15 times to about 27 times. Although we do believe in the services storyand the mo monetization, we think there are better opportunities we trimmed back from a market weight to an underweight were going to continue to hold the stock and maybe look for oppor
The dow did go down. The nasdaq went down 4 or 5 . I spent the better part of this year studying the pandemic i was right. You know what we just cover . The professionals are not the only covid that matters. We have a Massive Group of investors who become professionals. They dont care about the same thing as the experts theyre the ones who were the marginal buyers and sellers. The investors have changed the entire character of the market what made you not be able to sleep at night it was very little belief in stocks for the past 20 years, the convention says stocks could no longer be trusted. They continue to lose their values way too quickly when something goes wrong on top of that, the convention only a fool to try to pick individual stocks. You may as well stop trying to beat the mark and put some of your money in an index fund and invest safely in bonds the last eight months, that convention has been stood on its head by a new generation of investors after the rise of Commission Fr
In advance if i mispronounce anybodys names. Im president of the building inspection commission. And im joined by fellow commissioners and director, Patrick Oriordan and staff. Mayor breed of the Public Health director, the city is unfortunately experiencing another increase in covid cases and hospitalizations. Resulting in more than citywide measures as of november 13 that hopefully will reduce the pandemic infections. D. B. I. Leadership and staff for the ongoing hard work under these complicated circumstances. Even though the Public Health protocols, our new space is open on a limited basis to the public and the department continues to issue permits, conduct and schedule onsite job inspections and respond to complaints and task Code Enforcement steps as warranted. The director and the staff have been communicating regularly with customers and stakeholders on the departments progress and issuing more permits and addressing customers needs. Well hear more on this in the commission mee
And the vote is set for 11 eastern advancing nomnation for the u. S. Court of International Trade. Live Senate Coverage is here on cspan2. Thpresiding officer the senate will come to orde the chaplain dr. Barry black will lead the senate in prayer. The chaplain let us pray holy god, continue to be our strength and shield. Extend your powerful hands to aid and deliver us. Lord, inspireur senators to bieve that you continue to work for the good of those who love you. Let your favor shine upon our lawmakers, and sustain them with your unfailing love. Lord, release to them the pleasings you have stored for those who honor you. You are our god, and our future is in yourands. Remind us al to seek first to understand before we stri to be understood. We pray in your sacred name. Amen. The presiding officer please join me in reciting the pledge of allegiance. I pledge allegiance to the flag of the United States of america, and to the republic one nation under god, indivisible, with liberty and