Sunday Memo - Dec. 5

Today we light the last Chanukah candle for the Jewish holiday. Meanwhile, here is some good news from Denmark: 

  • Danish Bavarian Nordic’s non-adjuvanted COVID-19 vaccine candidate, ABNCoV2 (100μg), demonstrated a strong boosting effect, increasing the existing levels of SARS-CoV-2 neutralizing antibodies against the Wuhan variant by 2-40-fold depending on the initial levels of antibodies. The large boosting effect of ABNCoV2 elevated the neutralizing antibodies to levels reported to be highly efficacious (>90%) against SARS-CoV-2
  • A similar fold increase was observed for all SARS-CoV-2 variants tested (Wuhan, Alpha, Beta and Delta) following the booster vaccination with ABNCoV2. The vaccine was well-tolerated, with no serious adverse events reported. T

The big question for stock investors is whether of not the sell-off last week (especially on Friday) heralds trouble for markets during the rest of this year and (oy) into 2022. For whatever it is worth, Barron's wisely avoids risky predictions, particularly about the future. My subscription issue was unreadable because there was a nearly 2-inch border on the left edges of my issue, so I went to my nearest newsagent to buy another copy. It also has problems with its borders and the stock tables were unreadable. However it did have an article I could read by Ben Levisohn about Bristol Myers, a stock I just exited, and another about Deere.

Of course there is no way to decide which stocks to buy outside the country although the market rout was worldwide last week. Some of my holdings were tipped over the weekend: AbCellera (Sold) by Confounded Interest, an anonymous writer who set its target price at $41; Novo Nordisk of Denmark rated accumulate rather than hold; Coterra (CTRA) rated a buy rather than hold with a $1.05 target price, also anonymously; and a sell on Vodafone by another secret expert. How brave is value investor Steven Fiorilla tipping T (AT&T) with a PE of 6.95x and a yield of 8.87%. Mr Fiorillo had the honesty to sign his recommendation. The fact of the matter is that predictions are usually wrong, which is why people won't sign them.


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