Tuesday, June 30, 2020

Proximity Blindness

Seven States that are currently experiencing the sharpest rises in new daily COVID cases account for  35.5% of total US GDP:  CA, TX, FL, GA, AZ, LA and SC. Of those, just the first three produce a massive 28.5%.

By comparison,  three of the states which have managed to successfully deal with COVID (so far) are NY, NJ,  CT and produce a combined total of just 13% of GDP.

Yet, that’s where the vast majority of investment bankers, traders, hedge fund managers and  speculators live and work.  IMHO, they cannot but fall prey to a very human proximity blindness, particularly after suffering greatly from the virus.

May partly explain the phenomenal rebound rally.

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