Father Knows Best
Continuing the discussion about important issues for voters, a reader says: “What matters most to me is term limits and Congress being subject to all laws they enact. No more sweet deals for them!”
And here’s how one voter decides: “Politicians all make promises. They all tell you what you want to hear. They all make mistakes. How to choose the best candidate?
“My father once told me that ‘a man who has no respect for women, does not deserve the respect of other men.’
“I will not vote for a man whom I cannot respect. I guess that only leaves one candidate.”
We’re stumped… By that measure — unfortunately — a host of presidents would have been disqualified, including Trump and Vice President Biden who himself has been accused of sexual harassment and sexual assault.
As for the sexual harassment allegations, his own running mate Kamala Harris — when she was a presidential hopeful — said she believed the women who came forward with allegations against Biden. Sen. Harris walked back that stance this year when she said, and we paraphrase, “not the Joe I know.”
We’re in no way dismissing our reader’s wise, fatherly counsel… but so many politicians do.
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Your Rundown for Tuesday, Sept. 2, 2020…
Updates: Zoom and Silver
A couple follow-ups this morning…
On Monday, ahead of Zoom’s earnings report we asked: “Will the company announce another exceptional earnings report this afternoon?
“Is it even realistic to expect Zoom to shatter its previous report when ‘profit roared more than ten times higher, revenue exploded with 169% growth, and the company doubled its expectations for full-year sales,’” according to Market Watch.
We said to expect more growth, but to temper expectations. Boy, were we ever wrong…
CNBC reports: “In its earnings report on Monday, [Zoom] said revenue in the quarter increased 355% from a year earlier, beating analysts’ estimates by 33%. The shares surged more than 38% on Tuesday after the report. Keybanc analysts called it ‘another historic quarter.’”
While Morgan Stanley analysts increased their price target for ZM shares ahead of the most recent earnings report to $240, we’re seeing analysts now with targets at $455 and even $500 per share. Zoom shares sit at $457.69 this morning.
Now for silver… A silver surge is still in the works; in fact, the “poor man’s gold” isn’t the steal it once was: “the gold/silver ratio is currently trading at 70, down significantly from March’s all-time high around 125,” Kitco reports.
[Recall: The gold/silver ratio is the amount of silver it takes to purchase one ounce of gold. In this case, 70 to one.]
“We’ve been saying for a long time,” says CEO Randy Smallwood of Wheaton Precious Metals, “the fundamentals are much stronger, but silver always lags gold when gold starts moving. In the last two months, we’ve really seen silver totally outperform and claw its way back up.
“We’re not at record highs yet,” Mr. Smallwood concludes, “but with the fundamentals behind silver… I’m confident that we will see record highs in silver over the near term.”
Market Rundown for Wednesday, Sept. 2, 2020
S&P 500 futures are up 20 points to 3,547.
Oil’s steady at $42.85 for a barrel of WTI.
Gold is down $10.60 to $1,968.30 per ounce.
Bitcoin’s pulled back 4.75% to $11,429.21.
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We’ll have more to say Friday. Talk to you then.
For the Rundown,