I heard that Passover was being postponed because of a plague.
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I sent previous memo out again because I spelled Joe Lewis when should have been Joe Louis. Sorry.
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This memo is not intended to be my typical memo. It is a mixture of news, health revelations and a personal experience from my past as an institutional stock broker when I headed Drexel Burnham's Southeastern Institutional Sales Division that I began, Feb. 1, 1970 in Atlanta after I resigned my General Partnership in Courts and Co.
Courts was the largest Southeastern based NYSE Member Firm and was headquartered in Atlanta with offices throughout 4 Southern states (Ga., Al., S.C, and Tenn.) We maintained a New York trading and clearing office. Rex Auchincloss, Jackie's Uncle, was in charge of our that office.
This is the story of my introducing Home Depot and Bernie Marcus to Southeastern Institutions after the quiet period of their initial underwriting was over. I tell it not to be boastful but to encourage people to look beyond the current crisis.
After Ken Langone's brokerage firm brought Home Depot public, I hosted Bernie Marcus' first post underwriting breakfast in Atlanta. I invited local institutional clients I was serving and one personal client, Irwin Zaban, (may his soul rest in peace) who was then President of National Service Industries, a local NYSE firm. Present were analysts and portfolio managers from The State of Georgia, Invesco, Trustco, Sam Allen, Montag and Caldwell, Fulton National Bank among a few others. They were all interested but, to the person, said the capitalization was too small. Irwin did buy some stock.
Several weeks later, Bernie agreed to a rigorous tour of my territory and we began commercially flying in the night before to Richmond for an early breakfast the next day, followed by a lunch in Nashville the same day and ending in Birmingham that evening for a dinner. Again, as with those attending Atlanta's previous breakfast, all were fascinated with/captivated by the story but said the capitalization was too small.
When we returned to Atlanta late that evening Bernie was exhausted and said he would not take that kind of trip until Home Depot could afford it's own plane. Had anyone bought 100 shares of HD at that time and held it for over 20 plus years, at the price peak this year, that approximately $2500 investment would have been worth over $1 million dollars.
I always had a premonition, after I retired, the sky would fall and perhaps my black swan concerns are coming to pass.
At some point, this crisis will pass but no telling how much worse things may get because health professionals have no medical understanding/proof whether those infected by Coronovirus, which can subsequently turn into Covid 19, does so in a delayed and/or impacts young people with stronger immune systems yet, leaving their lungs permanently deficient, nor how many will
eventually die.
If you are stout of heart and have a rosy outlook, CRISPR Therapeutic and Crowdstrike Hldngs could be future winners. The former is involved in gene sequencing and the latter provides leading cloud delivered solutions for next-generation endpoint protection. I own 200 of the former and 100 of the latter. This is not a recommendation to do anything.
Meanwhile, we have China to thank for this crisis so welcome to the 21st Century and for those who want to blame Trump for responding a bit late, be my guest. I guess you will just have to avoid sucking up the virus!
I pray you remain safe and and stay well.
Drinks lots of warm liquids.
https://www.wsj.com/articles/
And:
https://www.wsj.com/articles/
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The Washington Post Runs a Shameless CIA Authored Hit Piece to Blame President Trump for the Spread of Wuhan Virus
| READ STORY |
Sidney Powell | How to Fix Justice - YouTube
Israeli Drug Company Donating 6M Doses Of Malaria Drug To US To Combat Coronavirus - Read More
(I own a lot of Teva and am losing my shirt on paper.)
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Coronavirus: United Hatzalah's Eli Beer on respirator in Florida hospital
Public asked to pray for Beer who is said to be sedated and intubated in Florida hospital.
Eli Beer, president of United Hatzalah, Israel's second-largest emergency medical service, is in serious condition after contracting the novel coronavirus. The organization issued a statement on Sunday calling on the public to pray for Beer.
"URGENT: Public asked to Pray for Eliezer Yehuda ben Chaya, founder & President of United Hatzalah after being placed on a respirator after contracting COVID-19," a post on the Israel News Feed (@IsraelHatzolah) Twitter feed read Sunday morning.
A spokesperson for United Hatzalah confirmed the tweet and said that Beer is "sedated and intubated."
Beer was hospitalized last week in the intensive care unit of a Florida hospital where he tested positive for coronavirus.
“I am in the ICU and waiting for results tomorrow, but most probably I do have it," Beer told the Post at the time.
Beer was on a fundraising trip when he got a fever and checked himself into the hospital. He had come in contact with a rabbi of an area synagogue who had also been diagnosed with coronavirus.
Florida has a high number of infected people. Over the weekend, the number of cases climbed to 658, according to the Florida Department of Health. Twelve people have died.
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