“Will individual investors stick around after pandemic’s ‘mind-blowing’ stock trading surge?” (MarketWatch)

Starting to see a lot of headlines like this as the speculative stocks from last year continue to sell off this year. It’s too early to tell whether this is what the year is going to be about and the growth to value rotation is real, but as I mentioned previously, the easy money in these names is probably done. Individual investors aren’t going anywhere. There are too many factors driving this trend, but they will need to expand their horizons beyond innovative technology and “stay at home” stocks.

“Odell Beckham Jr. Jumps Into SPAC Surge” (Wall Street Journal)

Headlines like these feed right into the negative narrative about Special Purpose Acquisition Companies (“SPACs”) recently. The SEC recently warned investors not to buy into a SPAC just because a celebrity is involved, and that makes perfect sense. You shouldn’t buy, or not buy, this SPAC because of Odell, even though it looks like he is bringing a lot to the table. He is going to be a strategic advisor to Tribe Capital Management. If you were going to analyze this SPAC, I would recommend focusing on Tribe Capital. Who are they? What have they done in the past? What areas are they targeting? This would be their second SPAC, and their co-founder was a partner at Social Capital. We haven’t done analysis on this SPAC yet, but if we did, those are the things we would be looking at.


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