Notes From All Over -- Market Edition -- July 14, 2021

Delta CEO: with outstanding quarterly results, says "cash is king." Always has been and still is. That, by the way, explains what is going on in the oil patch: "Cash is king." 

Quick: name the source of the reference to "double secret probation" and, no, it does not refer to Hunter Biden or Kamala Harris -- though the latter is likely already in double secret probation. See below.

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S&P 500: minutes after market opens, S&P 500 hits another record. Dow lagging ... because of ... Boeing. Lagging but still up today. That inflation report yesterday? Already forgotten.

Inflation: simply another meme.

• ten-year treasury: 1.379%, trending down (slightly)
• banks doing great;
• like the Covid-19 pandemic: those companies that can deal with inflation, will do very, very well; 
• those companies that adapted quickly to Covid-19, did very, very well; and will be even stronger as we come out of the various lockdowns;
  
• Blackrock's CEO:  
• more enduring; more systematic over time
• impact on equities: with caveats, will be good for equities
  

Banks: blow-out earnings.

Under management:

• Blackrock: $9.5 trillion
• Vanguard: $7 trillion
• Schwab: $3.8 trillion
• Robinhood: a measly, $80 billion

Oil equities: the only reason to hold "oil" these days is for the dividends. Share prices are going nowhere. 

Covid-19: how bad could it get? Wuhan flu now comes in a variety pack.  We've got Delta, Lambda, and Epsilon....

From a reader --

"The Greek alphabet is trying to kill us all" 

"I can only recite the Greek alphabet if I'm chugging beer" 

That sort of thing.

Well, then somebody mentions Delta Tau Chi and double secret probation... and I laughed so hard my ribs hurt just a little.

One fellow mentioned that he was glad there were only twenty-four letters in the Greek alphabet, but then he was scared they wouldd start with Roman numerals. 

[Comment: they can also add "+" to things like Delta which makes it sound even worse.] 

[Comment: but never any variant named after the original country from which the original Covid-19 came.]

Big story here: folks are now joking about all the variants. If the vaccine manufacturers can't keep up with this variety pack of Covid variants, why even get the current vaccines? And if one starts with getting one vaccine, does that not start the slippery slope of another Fauci vaccination every month?