this 1st Week of July 2020 thoughts
Updated: Feb 4
thoughts as we finish out your week…this 1st Week of July
I must have been wearing my rose-colored glasses this week: lots of good headlines crossed my desk!
Facebook CEO Mark Zuckerberg claimed “these advertisers will be back soon enough” as hundreds of global companies boycotted Facebook, which relies on advertising revenue. Firms like Unilever and Ben & Jerry’s led an advertising boycott in June and a “Who’s Who” of major brands have added their names to the #StopHateForProfit campaign pulled their ads. 😊 Why does this matter to you? There are potential users who do not trust Facebook to protect their personal information and will not until they are held accountable for hate speech, threats of violence and misinformation. Yes, you CAN go back! Some surprise relief from the IRS: anyone who has taken an RMD (Required Minimum Distribution) so far in 2020 (back to January 1st) before the CARES Act suspended 2020 RMDs will now have until August 31st to “undo” the RMD and roll it back into their IRA, even if it’s for an inherited IRA. 😊 Why does this matter to you? Cutting your taxes falls under the “It is not how much you make; it is how much you keep” category. Schedule time with my on my calendar https://calendly.com/skyeadv/rmd-payback or email me to see if this might benefit you!
Passengers arriving in England from any of the 59 countries and territories will not be forced to self-isolate for 14 days on entering the country starting July 10 and will not have to isolate on their return. The list includes France, Germany, Italy and Spain, a number of other European countries, as well as Australia, New Zealand, South Korea, and Japan. Barbados, St Kitts and Nevis and St Lucia also made the full list but the U.S. failed to make the European Union’s safe list. Canada and Sweden have not made the safe list as they opted NOT to go into lockdown at the height of the pandemic. ☹ Why does this matter to you? The rise in both infections, illness and deaths means the economic recovery we hoped might be sustainable is months away. No meaningful market recovery can happen with this uncertainty.
Content from the “happiest company on Earth” is now available via a streaming device near you. The Disney+ service includes all the Disney classics as well as Pixar, Marvel, Star Wars and National Geographic. The smash-hit Hamilton will go live on July 3, 2020, and this streaming service is available via smart TVs, phones, laptops, tablets and gaming consoles. Find out more here: https://www.disney.com/ 😊 Why does this matter to you? There is not just one “big” market: we’ll be looking for the companies fighting the downtrend and the managers who actively “stock pick” the companies who can innovate.
Coronavirus Tests the benefits of ESG: Stocks with strong ESG scores outperformed during the 1st Quarter of 2020 | Skye Advisors was founded on ESG: Environmental / Social / Governance and best practices around ethics, environmental awareness and how employees, suppliers and shareholders are treated. How have companies focusing on ESG issues fared through the coronavirus? Many made tough decisions about how to protect workers while keeping operations running. Responses range from furloughing employees; paying severance and companies that shifted their workforces to work-at-home mode or maintained data privacy and security standards. Water conservation and continuing to fund projects that reduce emissions or mitigate the impact of climate change during a recession means that these CEOs will bring their firms out of this recession stronger. Bankruptcy is not common with these “best of breed” companies. 😊 Why does this matter to you? So, is it just a “feel good” way of investing, or is it a predictor of long-term value? The premise has always been “you can do well while you do good” and the result is better performance for your portfolio.
This was a remarkable week for social justice from every corner and conservatives and progressives agree! Income inequality keeps everyone from living our best lives and from a portfolio manager’s perspective, this means fewer customers can afford to buy products and services from the companies we invest in. The highest-ranking West Point cadets for the Classes of 2018 - 2019 have jointly written a 40-page policy proposal for making the Academy anti-racist and the Sierra Club recognized the need to dismantle systemic racism in the United States. White supremacy -- past and present -- has shaped our institutions and it is time to do the critical anti-racism work necessary to repair the harm done. The environmental movement does not exist in a vacuum, and it will take all of us to use our power to help abolish systemic racism, which is destroying lives, communities, and the planet. 😊 Why does this matter to you? As Sustainable / Impact Investors, this is a moral and financial imperative. As opportunities spread to all companies, all will profit.
Thoughts or questions about anything in this re-cap? Use this Calendly link and book a few minutes on my calendar about anything that is on your mind. You will love how with a few clicks you will be on my calendar! https://calendly.com/skyeadv/ask-julie-about
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