• From the article which references an interview on Fox, Tim Cook says he's "very optimistic" China is getting the novel coronavirus under control.  As we've noted, this view was confirmed by Marriott yesterday which said they are re-opening closed hotels and they expect the impact of the virus to be short-lived.
  • Cook also says the numbers in China are coming down day by day.
  • This is all supported by comments from the World Health Organization which said that the coronavirus peaked in China prior to February 2, and has been declining every since.
  • Regarding the supply chain, Cook says factories in China are re-opening.
  • Our view again, although difficult through all of the headlines, look where the virus has been, not where its going.
  • This comment comes out of JP Morgan's analyst day yesterday and is consistent with an industry wide movement that is in part driven by a looser approach to antitrust by the Trump administration (our comment).
  • Indications they are looking in wealth management, not surprisingly, as well as private banking and alternative investments.
  • Analysts point to the need for scale in the increasingly low interest/low margin financial services industry.
  • Funny article, here's the most recent fashion trends from the Silicon Valley/San Francisco.
  • Find jeans that fit well.
  • Pay attention to the color and quality of the garments you wear.
  • Get fresh shoes, "meaning they're clean and in good shape.
  • Do that, and fund an IPO.
  • Good run down of an interesting deal called Subversive Capital, that sends off many yellow (if not red) flags.
  • Company raised money through a SPAC structure to buy "distressed" cannabis real estate distribution facilities and retail (dispensaries).
  • There has been one real success story/stock in the space Innovative Industrial Properties (IIPR) which is a REIT, and another deal was sponsored by Credit Suisse (Silver Spike Capital), as well as another REIT created/managed by Acosta, the manager of Subversive.
  •  One obvious issue is whether the cannabis real estate market has bottomed yet after a big run up in recent years.
  • Second, as we've noted before, we've seen waves of the creation of SPACs before towards the end of cycles.  Costa seems like the real deal as a manger (ex Colony Capital), but need to look at how the SPAC will be managed and deal structure.
  • Really interesting article which is an aggregation/summary of studies on why people cheat.  Some of the findings are predictable, some surprising.
  • Men are more likely to be angry if his spouse has an affair with someone of the opposite sex, and aroused if the cheating is with the same sex.  Women are angry at both prospects, but more likely to end the relationship if its the same sex.
  • Peoples perception is that 42% of people cheat, but these same surveyed people think there is only a 5% chance that their partner is cheating.
  • Straight men are more distressed by sexual infidelity; straight women are more distressed by emotional infidelity.
  • Men are more likely to cheat when they cross an age milestone (e.g turning 40 or 50).
  • There may be a genetic link to cheating.
  • Heterosexual women now are almost just as likely to cheat as heterosexual men with 19% of women cheating compared to 23% of men.
  • Younger people (american) are less likely cheat vs older people.
  • Morality/religion is cited as the primary reason people don't cheat.
  • People who have cheated once, are more likely to cheat again.  One study found three times more likely.
  • This interesting because you don't see it too often, particularly with this size.
  • New management team has been put in place leveraging the company's existing operating structure and vendor relationships (and we're sure with a smaller higher quality store location base coming out of bankruptcy).
  • Management says they will be collaborating with "high profile individuals and brands to ensure exclusive product offerings at compelling price point".
  • Nothing to do on this as it's now a private company, but interesting to watch the progress.
  • More evidence that brick and mortar isn't going away, its being selectively re-positioned and re-structured.
   
  • According to Morgan Stanley annual survey of IT managers, Microsoft will gain the largest proportion of IT budgets over the next three years driven by its hybrid cloud products.  This product has the biggest opportunity to also take share from Amazon Web Services.
  • Survey results also suggest that Cisco, Dell, HP, Oracle and VMware will lose the most share (not in this order).
  • Little bit of a fluff channel check piece, but does bring home why Ross and TJX stocks have had huge runs the past five years.
  • If you haven't been in either, you'll be shocked by the breadth of merchandise and the level of discount pricing in these stores.  You'll quickly understand why department stores have been losing market share and under pressure for years.
  • As the article implies, these concepts are here to say and while stocks with such big runs are hard to buy, worth taking a look.
  • Interesting look by Bain partner at increasing investment flow into tech that expedites the cost sand timing of construction.  Fragmented industry that has been lagging the benefits of new tech.
  • Questions prospects and valuations of companies short-term rentals and co-working.
  • She thinks the rental of single family rentals will progress to being a sustained real estate asset class.
  • Target rolling out a moderate priced line of active wear this month that could take some share from Lulu, Nike, etc.
  • Company  thinks could generate $1 billion in year one.
  • Great idea we hope succeeds.