Polling (Dis)Place

“Thanks for addressing voter concerns in the feedback forum,” says our first contributor.

“There has always been voter fraud. Apparently people have forgotten the 2008 election when members of ACORN registered inmates to complete absentee ballots. Never was the question asked: Are you a convicted felon?

“Or a more recent example, this year a Kentucky postal worker trashed mail-in ballots.”

A retiree writes: “I now live in a north Georgia mountain location, but we also have a small condo in Atlanta. At my Atlanta address, I received five unrequested voter applications sent at city expense, and a few follow-up notes about mail-in voting. Yes, Atlanta is one of those heavily blue metro cities.”

Our final contributor today says…

“We live in southwest Washington state. They do not have a polling place. We were told we could go to the county seat in Kelso and put our ballots in the box there, but no one would check our IDs. We are stuck with mail-in voting, which seems to be problematic.”

Thanks for your submissions from across the country!

Along the lines of voting, how do you think the election outcome will affect the stock market?

Send your opinions to, TheRundownFeedback@SevenFigurePublishing.com.

Your Rundown for Friday, Oct. 23, 2020…

SPACs: Breaking the Rules

“No doubt about it, 2020 is the year of the SPAC,” says our quantitative analyst Jonas Elmerraji. “Special purpose acquisition companies,” he continues, “have been getting lots of attention this year, and for good reason.

SPACs have “[raised] more than $57 billion in gross proceeds so far — that’s more than four times the capital SPACs raised last year. And about a dozen of these investment vehicles have generated triple-digit returns.

“They’re not showing many signs of slowing down, either,” says Jonas. “There have been 151 SPAC IPOs in 2020, signaling that many more of these opportunities will be coming online in the months ahead…

ipo transactions

“SPACs are basically ‘blank-check companies,’” Jonas reminds readers. “Here’s how they work…

“A SPAC goes public, full of investor cash and looking for an attractive privately held business to take public. Typically, a SPAC looks for an acquisition target with some kind of theme — it could be electric vehicles or maybe space tech or cannabis.

“In a typical arrangement, the SPAC has two years to make a deal or return its cash to investors.

However, “SPACs have a dirty little secret,” Jonas concedes, “According to data from Renaissance Capital, the average SPAC actually underperforms the average traditional IPO. That data is a little skewed because it primarily includes SPACs that did their deals before SPACs became mainstream and reputable this year.

“Still, the important takeaway is that you need to break a key investing rule if you want to be a successful SPAC investor: Don’t diversify!

“Diversification is a wise strategy for your core portfolio holdings,” Jonas says, “but not for more speculative opportunities where the lion’s share of the returns can come from a small handful of names.

“SPACs have moonshot gain potential — because of that, it’s important not to water down your most exciting SPAC holdings with ‘average’ names.

“Instead, it’s better to take a smaller chunk of your overall portfolio and put it in the select SPACs… are most likely to deliver explosive returns,” says Jonas.

“Doing that is likely to yield better results than owning big baskets of SPACs like ETFs. Of course, that begs the question — which SPACs… should you own?

“Stay tuned,” Jonas says. “We’ll be digging deeper into the ‘SPACverse,’” he concludes.

And The Rundown will keep you informed about the SPAC story as it unfolds this year…

Market Rundown for Friday, Oct. 23, 2020

S&P 500 futures are up 5 points to 3,454.

Oil’s pat at $40.61 for a barrel of West Texas Intermediate.

Gold is up $2.20 per ounce to $1,906.80.

Bitcoin’s down $30 to $12,988.

Send your comments and questions to, TheRundownFeedback@SevenFigurePublishing.com.

We hope you have an excellent weekend; we’ll be back Monday.

For the Rundown,

Aaron Gentzler

Aaron Gentzler

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Drivers in the market continue to be the virus, the vaccine, the election and whether or not Donny will exit the White House (without incident) in January. The macro data – while improving (at least in the US) is playing less of a role in the investment process right now – as analysts/strategists/investment committees and investors attempt to identify the winners/losers in this ongoing fight against covid19.

Aaron Gentzler

Aaron Gentzler is the publisher of Seven Figure Publishing. He is also the editor of The Rundown and has been with Agora Financial / Seven Figure Publishing since 2005. He's been covering technology and markets for over a decade.

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