Midcap Roundup (6 Aug 2020) –
Apologies for my recent absence! I’ve been fitting out my office (see my Twitter) and taking care of lots of other important but time-consuming tasks. Those who criticised my office setup will be pleased to know that I’ve ordered a very comfy chair, for delivery next week.
Today I’m going to look back at some of the midcap stories I missed while I was gone, starting with British American Tobacco (BATS).
The FTSE continues to bobble around the 6000 mark, and I’ve been structuring a trade for options on it which will expire early next year.
As for the virus situation, we are still threatened by local lockdowns (e.g. in Aberdeen) and European countries have had a few setbacks in terms of lifting their restrictions. The overall trend is towards easing restrictions and getting schools back open, but our economies and lives are of course very far from normal.
Gold and US tech stocks continue to make great gains. Or the dollar continues to decline, whichever way you look at it! I’m expecting lots more inflation in the years ahead, as governments resort to the printing press to pay for Covid-19 measures. This is part of the reason why I want a (very modestly) leveraged exposure to the equity market.