Succinct Summation of Week’s Events for 7.3.20 (plus Jim Simons on Mathematics, Investing)

As is the usual case on Sunday nights, below is the weekly summation supplied by Barry Ritholtz each weekend on his Big Picture blog.  The positives are that Q3 (all two days of it so far) has begun on a positive note, payrolls rose above expectations and unemployment fell to 11.1%.  The negatives are same old - as a nation, we've done a lousy job containing this virus with now a record-breaking 50,000 daily new infections, the EU has banned Americans from travel, and jobless claims continue to be way up; we're a long way from returning employment to normal.


The bonus this Sunday night, also courtesy of Ritholtz, is a 1-1/2 hour YouTube video interview of financial wiz Jim Simons and his views on mathematics and investing.  It may be long but think of it as a mini-course on quant. And for a heads-up, the AAII will be offering another virtual webinar on Wednesday evening at 7:30 p.m. entitled, "Using Value, Momentum and Quality as an Active Approach to Investing."  The link for more information is below.  Hope everyone had a wonderful 4th of July weekend. 

Succinct Summation of Week’s Events for 7.3.20

July 3, 2020 12:00pm by Barry Ritholtz

Succinct Summations for the week ending July 3rd, 2020.

Positives:

1. Second half begins on positive note, with Markets gaining for the week.
2. Nonfarm payrolls rose 4.8M m/o/m, above expectations.
3. Unemployment rate fell to 11.1% in June, down from last month.
4. Private payrolls rose 4.767M m/o/m, above expectations.
5. Pending home sales rose 44.3% m/o/m, above expectations.
6. PMI Mfg Index came in at 49.8, ISM Mfg Index came in at 52.6 for June, above last month.
7. Consumer confidence came in at 98.1 for June, above expectations.

Negatives:

1. An incompetent nation: Daily new cases of Covid-19 infections surge past 50,000 to a new record.
2. EU bans travelers from America as a precaution against new wave of infections.
3. Jobless claims came in at 1.427M for the week, above expectations.
4. Home mortgage apps fell 1.0% w/o/w after previous decrease of 3.0%.
5. International trade deficit widened to $-54.6B.
6. Construction spending fell 2.1% m/o/m, below expectations.
7. Factory orders rose 8.0% m/o/m, below expectations.

7-5-20 https://www.aaii.com/webinars


7-5-20 BigPic: Jim Simons on Mathematics, Investing & Philanthropy - The Big Picture

Jim Simons on Mathematics, Investing & Philanthropy

July 5, 2020 6:00pm by Barry Ritholtz

Jim Simons: Life Lessons from the ‘World’s Smartest Billionaire’

Mathematician, code breaker, Professor, hedge fund pioneer, & philanthropist Jim Simons makes his first-ever podcast appearance with UC San Diego Professor Brian Keating.

Learn about Chern-Simons theory, leadership lessons, hedge funds, and a dedication to serve the world through basic research from a master. The man who’s been called The World’s Smartest Billionaire:  In this interview, Simons discusses heroes, fatherhood, leadership and the art of math.