1/ Market Musings is back but with a glitch so here's the tweetstorm instead. December set some capital markets records. DoorDash, Airbnb and Wish all priced $1bn+ IPOs leading up to the Christmas holiday.

2/ It wasn’t long ago that investors were bemoaning how long it took companies to go public. Only a handful were going public each year and they were fueling their growth with private capital.
3/ Starting in 2018 we started seeing more than a dozen IPOs that raised >$1bn each, in the US and globally. Many of these large IPOs have been tech companies and the markets are rewarding growth.
4/ Why did we see 4 big tech IPOs (airbnb, doordash, https://t.co/8Z1JDLbiDS and Wish) price last December? Is going public right before year end common? No, it’s not.
5/ Here are a couple of factors that make the IPO market hot right now:
- Companies originally pushed their IPOs when Covid hit
- The stock market is surging
- Election provided certainty
- The market is rewarding growth cos
6/ Investors are likely to continue pouring capital into the stock market. There are few asset classes offering a return above inflation right now and US equities is one of them. Both the DJIA and the S&P 500 finished 2020 at record highs.
7/ Keep in mind that 2020 was a record setting year for IPOs, but nearly half of IPO activity was for SPACs. SPAC volume was up ~6x from 2019 and is showing no signs of slowing. SoftBank alone is rumored to be considering launching 3 SPACs in 2021.
8/ There are also rumors of more $1bn IPOs waiting in the wings: Instacart, Robinhood and Coinbase. Both Roblox and Affirm had filed prior to year end and are still on the docket to go public.
9/ 2020 seemed to show that the stock market is completely divorced from the economic reality of the US economy. Is that going to continue in 2021? 👇
10/ The economic impact of the virus has been much smaller than expected.
According to NYTimes, salaries and wages fell less in the period between March and November than most people think. Total employee comp was down only 0.5% versus the same period in 2019.
11/ The # of jobs on payroll was down 6%. Covid 19 has disproportionately affected lower paying service jobs while higher paying professional jobs were largely unaffected or may have even increased in compensation.
12/ Also, the CARES Act resulted in American income from unemployment benefits being 25x higher in March - Nov 2020 vs same period in 2019. Part of the jump was from more Americans applying for benefits.
13/ But 73% of the increase came from supplemental benefits (e.g., the $1,200 checks to most American households, many of whom didn’t see a drop in income). As a result, Americans’ cumulative after tax income was $1T higher for March - Nov 2020 vs in 2019!!
14/ Personal savings is estimated to have been 173% higher for Mar - Nov 2020 vs 2019. Some of the increase in savings has been funneled into the stock market which has led to buoyancy in stock price performance. No reason to believe the stock market won’t continue to outperform.

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॥ॐ॥
अस्य श्री गायत्री ध्यान श्लोक:
(gAyatri dhyAna shlOka)
• This shloka to meditate personified form of वेदमाता गायत्री was given by Bhagwaan Brahma to Sage yAgnavalkya (याज्ञवल्क्य).

• 14th shloka of गायत्री कवचम् which is taken from वशिष्ठ संहिता, goes as follows..


• मुक्ता-विद्रुम-हेम-नील धवलच्छायैर्मुखस्त्रीक्षणै:।
muktA vidruma hEma nIla dhavalachhAyaiH mukhaistrlkShaNaiH.

• युक्तामिन्दुकला-निबद्धमुकुटां तत्वार्थवर्णात्मिकाम्॥
yuktAmindukalA nibaddha makutAm tatvArtha varNAtmikam.

• गायत्रीं वरदाभयाङ्कुश कशां शुभ्रं कपालं गदाम्।
gAyatrIm vardAbhayANkusha kashAm shubhram kapAlam gadAm.

• शंखं चक्रमथारविन्दयुगलं हस्तैर्वहन्ती भजै॥
shankham chakramathArvinda yugalam hastairvahantIm bhajE.

This shloka describes the form of वेदमाता गायत्री.

• It says, "She has five faces which shine with the colours of a Pearl 'मुक्ता', Coral 'विद्रुम', Gold 'हेम्', Sapphire 'नील्', & a Diamond 'धवलम्'.

• These five faces are symbolic of the five primordial elements called पञ्चमहाभूत:' which makes up the entire existence.

• These are the elements of SPACE, FIRE, WIND, EARTH & WATER.

• All these five faces shine with three eyes 'त्रिक्षणै:'.
क्या आप जानते हैं कि क्या है, पितृ पक्ष में कौवे को खाना देने के पीछे का वैज्ञानिक कारण!

श्राद्ध पक्ष में कौओं का बड़ा ही महत्व है। कहते है कौआ यम का प्रतीक है, यदि आपके हाथों दिया गया भोजन ग्रहण कर ले, तो ऐसा माना जाता है कि पितरों की कृपा आपके ऊपर है और वे आपसे ख़ुश है।


कुछ लोग कहते हैं की व्यक्ति मरकर सबसे पहले कौवे के रूप में जन्म लेता है और उसे खाना खिलाने से वह भोजन पितरों को मिलता है

शायद हम सबने अपने घर के किसी बड़े बुज़ुर्ग, किसी पंडित या ज्योतिषाचार्य से ये सुना होगा। वे अनगिनत किस्से सुनाएंगे, कहेंगे बड़े बुज़ुर्ग कह गए इसीलिए ऐसा करना

शायद ही हमें कोई इसके पीछे का वैज्ञानिक कारण बता सके।

हमारे ऋषि मुनि और पौराणिक काल में रहने वाले लोग मुर्ख नहीं थे! कभी सोचियेगा कौवों को पितृ पक्ष में खिलाई खीर हमारे पूर्वजों तक कैसे पहुंचेगी?

हमारे ऋषि मुनि विद्वान थे, वे जो बात करते या कहते थे उसके पीछे कोई न कोई वैज्ञानिक कारण छुपा होता था।

एक बहुत रोचक तथ्य है पितृ पक्ष, भादो( भाद्रपद) प्रकृति और काक के बीच।

एक बात जो कह सकते कि हम सब ने स्वतः उग आये पीपल या बरगद का पेड़/ पौधा किसी न किसी दीवार, पुरानी

इमारत, पर्वत या अट्टालिकाओं पर ज़रूर देखा होगा। देखा है न?

ज़रा सोचिये पीपल या बरगद की बीज कैसे पहुंचे होंगे वहाँ तक? इनके बीज इतने हल्के भी नहीं होते के हवा उन्हें उड़ाके ले जा सके।
1. Project 1742 (EcoHealth/DTRA)
Risks of bat-borne zoonotic diseases in Western Asia

Duration: 24/10/2018-23 /10/2019

Funding: $71,500
@dgaytandzhieva
https://t.co/680CdD8uug


2. Bat Virus Database
Access to the database is limited only to those scientists participating in our ‘Bats and Coronaviruses’ project
Our intention is to eventually open up this database to the larger scientific community
https://t.co/mPn7b9HM48


3. EcoHealth Alliance & DTRA Asking for Trouble
One Health research project focused on characterizing bat diversity, bat coronavirus diversity and the risk of bat-borne zoonotic disease emergence in the region.
https://t.co/u6aUeWBGEN


4. Phelps, Olival, Epstein, Karesh - EcoHealth/DTRA


5, Methods and Expected Outcomes
(Unexpected Outcome = New Coronavirus Pandemic)