In the Spirit of 4th of July, we wish all our American Clients and associates a HAPPY INDEPENDECE.

“Independence Day: Freedom has its life in the hearts, the actions, the spirit of men and so it must be earned and refreshed-else like a flower cut from its life giving roots, it will wither and die.”- Dwight D. Eisenhower

What you own

For EXM clients: (+) is a positive read-through, (-) negative, (~) neutral

(+) Amazon up 5% after forming a dedicated space division for its cloud segment, AWS. The company is betting on growth for their cloud computing services as public interest in space travel regains traction.

(+) Google up 2% after increasing the price of the Youtube TV streaming service by 30% (up to $65/Month). The latest price hike comes as the service acquires rights to several of ViacomCBS’s channels and is indicative of growing demand for online entertainment.

(~) Uber was flat after making a $2.6 billion offer for Postmates, while its Eats business waived fees for NYC eateries in an effort to gain market share from Grubhub.

Performance update

Our Flagship strategy gained +40% after fees in Q2, beating the S&P 500’s +21% and marking our best quarter in 2 years.

EXM clients are now up +12-8% YTD (vs. S&P 500 down -3% and advisors like Wealthfront and Betterment down -6% to -10%)

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Represents total return from 2018 through June 2020.

Weekend Reads

Your boss wants you to take vacation (5 min read). How work-from-home dynamics have changed how employees and employers treat vacation time.

The boat business is booming (7 min read).In the era of socially-distant recreation, consumers are looking towards the waterfront for an escape from quarantine life.

How to build a more resilient business (13 min read). The Harvard Business Review on the keys to building sustainable and durable enterprises in the post-COVID world.

A detour

“Longevity in business is about being able to reinvent yourself or invent the future.”

— Satya Nadella, CEO of Microsoft