Corona Virus Positive: Everyone is looking for Subscription...

Corona Virus Positive: Everyone is looking for Subscription model businesses. Folks are not going to cancel their Spotify subscription because they are too scared to go out. Companies are not going to cancel their enterprise intranet when their employees are working at home.

Corona Virus Negative: The retail investor is putting on the "risk off trade" . Buying staples and gold, selling the speculative , cash flow negative stocks. However the "risk off" trade is primarily focused on what Goldman Sachs has called the "Retail Darlings", stocks which have had huge run ups without any consideration of value....SpaceX etc. LVT has not exactly benefited from retail investor inspired froth.(I only wish!)

Good luck out there.

We trimmed some positions in the US last week and today but we spent more time looking for shorts to hedge than selling stuff we liked and owned. There is a lot of froth out there.