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NYC Doubles Down on Quarantines for International Travelers

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New York City was one of, if not the first cities in the United States to impose severe travel restrictions on any traveler coming from the United Kingdom. But now, those same restrictions are going to be applied to ALL international travelers. 

From Breaking Travel News:

“…all visitors would be ordered to stay for 14-days at the address they provided on arrival.

He added said anyone arriving from the UK would be visited by police to ensure they abide by the rules.

Those who breach them will be fined $1,000 (£737) a day, [New York City mayor Bill de Blasio] warned.”

At first, the initial response to British travelers was a gut reaction to the new COVID-19 mutant spreading across the UK. But now that the mutant has found its way into several countries across the globe, including the US, de Blasio refuses to take any more chances. 

Can’t blame him – New York City is arguably the most impacted area in the US with respect to COVID-19 infections and deaths. Combined with the poorly managed response to the virus, the city doesn’t have any more wiggle room. At this point, it’s do or die. 

Rest in Peace, Serious and Investigative Journalism in America

I just came across this awful piece from The Atlantic talking about the future of journalism in a post-Trump era (assuming nothing extraordinary happens on January 6th). Several of the high-profile journalists interviewed were happy to take a breather from covering Trump every day and night. 

Like this shmuck here: 

“Daniel Dale, the former Toronto Star correspondent who rose to stardom at CNN for his exhaustive cataloging of Trump’s lies, says his beat will necessarily expand come January. ‘It will not be a 24-hour, seven-day-a-week job to fact-check Biden,’ he told me. 

Though he stressed that the same ‘intensity and rigor’ should be applied to the incoming president, the simple reality is that Biden doesn’t lie nearly as often as Trump does. Consequently, Dale hopes to spend more time debunking online disinformation and digging into claims made by congressional leaders.”

Yeah freaking right. Everybody knows this is nothing more than grandiose bullsh*t. Even independent reporter Glen Greenwald knows that Biden will have a VERY easy time as POTUS and won’t have to worry about aggressive media reporting. From his recent Twitter thread:

“LOL – when people asked me why I wasn’t happier that the media finally comported with the standards I and others have long advocated – being adversarial, explicitly identifying “lies” – I always said it was because it’d go back to normal after Trump. It was a Trump-only change.

It’s not just that CNN, NBC, WashPost, the Atlantic, New Yorker, etc. will cease to be adversarial with Biden/Harris. It’s way worse: they will be the new administration’s primary spokespeople, their first line of defense, their chief propagandists: their familiar role.”

But I’m curious to know: How do YOU think the media will behave after (and if) Biden gets inaugurated as POTUS on January 20th? Will they cover him as critically as they did Trump, or will they start getting lazy at their jobs? 

Reply to this newsletter and share your predictions with us!

Critical Lessons a Barron’s Contributor Learned from Picking Stocks in 2020

Barron’s contributor Al Root recently penned a piece reflecting on the year of 2020 and how his stock-picking ventures went. Some successes, some failures, and several lessons learned. 

But what’s most surprising about these lessons is they are nothing new over the sun. They are time-tested truths for any experienced investor who has spent enough time analyzing and participating in the financial markets. 

Lesson #1: It’s extraordinarily difficult to call the top of bubbles

I did write on March 20 that it might be the best time to buy Tesla (TSLA) stock ever. That successful call wasn’t because I had great insights about the electric-vehicle market. It was based on how Tesla stock trades relative to analysts’ price targets.

Still, it was tough for a value investor — I consider myself one — to hang on for the ride. I recommended taking profits in the summer after a 250% rise in the shares to around $300.

That wasn’t a good call. The stock is now at about $663, while the average of analysts’ price targets is about $408. Tesla is now the world’s most valuable car company by a wide margin. Its performance has sparked a stupendous rally in everything EV-related.”

Lesson #2: BUY when the market is in a bad place

‘When there is blood in the streets, buy real estate,’ is said to have been a Roman proverb. That thinking still works today: The best time to buy stocks is usually when the outlook is the darkest, as it was in late March and early April.

It was a particularly frightening time to be in the market because few people who lived through the 1918 pandemic are still alive, and none of them was old enough to have been investing back then. The S&P 500 bottomed out at less than 2,200 in late March, for a scary 55% drop from its pre-pandemic highs.

Of course, the outlook improved and the market is about 70% above that low.”

But despite these setbacks, the majority of his picks ended up outperforming the market and generating positive returns. Even when you succeed, there is always a golden nugget to be found that will help you perform even better than last time…

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