Friday Investment Talk: Bitcoin, USD Weakness, Market Bullishness

Bitcoin’s recent run draws institutional investors attention as S&P gets ready to launch a new ETF. New stimulus measures increase USD weakness.

Markets remain bullish in December with no sell signals yet. Outsized returns in November usually proceed more bullishness for the year ahead. Small and mid size companies continue to outperform, but relative strength of Emerging Markets (EEM) is very impressive. We highlight Brazil (EWZ) as a beneficiary of the weak USD and strength from a Chinese rebound after COVID.

Marijuana regulations in the US continue to ease. The next story could be psilocybin. We highlight a new company play on this theme.