Do we have reasons to cheer for this equity rally when 3-4 out 10 Sectors are completely decimated by covid?
1. Real estate (commercial) – devastated
2. Energy – effectively bankrupt
3. Financial Sector – banks and Insurers with real estate on its knees and low rates will not recover
4. Industries – like Airlines, Education (colleges, schools) and Retail comprising parts of Industrials and Discretionary are tapped out, gasping for oxygen…
Beyond that, we have nothing to worry about – ZOOM & Peloton grew revenue +300% in 2020…