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Institutional Capital is Flowing Here:
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Institutional Capital is Flowing Here:

Afternoon Audit
Aug 12, 2020
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A Big Day For U.S Equities

Catch Up Quick

  • Softbank reports a $12B profit

  • McDonald’s sues its former CEO

  • Gold sees its worst day in 7 years

  • Big Ten, Pac-12 postpone college football

  • Joe Biden picks Kamala Harris as his running mate

  • Airbnb is close to filing IPO paperwork with the SEC

  • The average murder rate across 20 major cities ↑ 37% percent in June

  • Brooks Brothers is seeking a $325B sale to a duo of acquirors

  • The U.S. Producer Price Index jumped in July while inflation remains muted


My Wednesday Opinion

  • The largest mall owner in the U.S. has entered talks with Amazon to convert now vacant Sears and JC Penney stores into Amazon fulfillment centers— taking a step back, this is an early indicator that the pandemic-expedited pace of retail evolution will yield interesting opportunities as incumbents will attempt to put assets (such as real estate) to the most efficient use


Thought of the Day

  • Currency speculators have recently increased bets against the U.S. dollar, estimating the euro will rise to record levels

  • Furthermore, more and more money is flowing into the euro as well as euro-backed assets (European stocks and bonds)

  • In the U.S., tensions with China, an upcoming presidential election, and an untamed pandemic, among others, create a tough environment for institutional investment exposure from a risk perspective

  • However, Eurozone countries are highly enticing relatively speaking

  • This is due to many reasons, particularly an $882B relief package efficiently at work and a robust public health infrastructure effectively control COVID-19


The Bottom Lines

  • The development and digitization of financial systems have allowed easy access to both public and private investments in nearly any market across the globe

  • Between the aforementioned fundamentals and the institutional momentum towards Europe, the realm certainly appears an interesting area to put capital to work

  • In today’s day and age, despite macroeconomic turbulence, it can be difficult to justify large cash positions, simply given the breadth of global investment opportunity

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