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Guggenheim’s Minerd says the market is betting on a Joe Biden victory, and a Democratic sweep will be best for stocks in the short run

Guggenheim’s Minerd says the market is betting on a Joe Biden victory, and a Democratic sweep will be best for stocks in the short run



Scott Minerd wearing a suit and tie: Lucy Nicholson/Reuters


© Lucy Nicholson/Reuters
Lucy Nicholson/Reuters

  • Scott Minerd spoke on a panel at the Milken Institute 2020 Global Conference on Monday and said that the markets are betting on a Joe Biden win. 
  • The Guggenheim chief investment officer explained that stocks that would flourish under a Biden win, like those in alternative energy, are flourishing right now. 
  • He added that a Democratic sweep would most likely be the best for the stock market in the short run and not the “disaster” that many are forecasting.

Guggenheim’s Scott Minerd said on Monday that the market is betting on Democratic presidential nominee Joe Biden to win the election.

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During a panel at the Milken Institute 2020 Global Conference, the chief investment officer said stocks that would flourish under a Biden administration are performing much better right now than stocks that would boom under Trump.

Minerd cited alternative energy companies as an example of stocks that are gearing up for a Biden win. The Invesco Cleantech ETF is trading at a record high, and the First Trust Nasdaq Clean Edge Green Energy Index Fund is up almost 100% year-to-date. The iShares Global Clean Energy ETF is trading at its highest level since 2010, and the Invesco Solar ETF is at its highest point since 2011.

Read more: Morgan Stanley lays out its 5 favorite trades for investors looking to dominate a looming V-shaped recovery, even if a stimulus deal takes until 2021

Minerd also said that the resolution of the election “will be positive for markets,” and reduce the risk premium of who the next president is going to be. 

He added that a Democratic sweep would most likely be the best for the stock market in the short run because there will be “lots of stimulus.” 

“I don’t see it in

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Underground insulin exchanges emerge as workers lose jobs amid pandemic, insurance co-pays fall short

Underground insulin exchanges emerge as workers lose jobs amid pandemic, insurance co-pays fall short

DENVER — D.j. Mattern had her Type 1 diabetes under control until COVID-19’s economic upheaval cost her husband his hotel maintenance job and their health coverage. The 42-year-old Denver woman suddenly faced insulin’s exorbitant list price — anywhere from $125 to $450 per vial — just as their household income shrank.

She scrounged extra insulin from friends, and her doctor gave her a couple of samples. But, as she rationed her supplies, her blood sugar rose so high that her glucose monitor couldn’t even register a number. In June, she was hospitalized.

“My blood was too acidic. My system was shutting down. My digestive tract was paralyzed,” Mattern said, after three weeks in the hospital. “I was almost near death.”

So she turned to a growing underground network of people with diabetes who share extra insulin when they have it, free of charge. It wasn’t supposed to be this way, many thought, after Colorado last year became the first of 12 states — including Illinois — to put a cap on the co-payments that some insurers can charge consumers for insulin.

But, as the coronavirus pandemic has caused people to lose their jobs and health insurance, demand for insulin sharing has skyrocketed. Many who once had good insurance are now realizing the $100 cap for a 30-day supply is just a partial solution, applying only to state-regulated health plans.

It does nothing for the majority of people with employer-sponsored plans or those without insurance coverage. According to the Colorado chapter of Type 1 International, an insulin access advocacy group, only 3% of patients with Type 1 diabetes under 65 could benefit from the cap.

Such laws, often backed by pharmaceutical companies, give the impression things are improving, said Colorado chapter leader Martha Bierut. “But the reality is we have a

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Florida State fights, falls short at No. 5 Notre Dame

Florida State fights, falls short at No. 5 Notre Dame

Curt Weiler
 
| Tallahassee Democrat

SOUTH BEND, Ind. – Florida State entered Saturday looking to build upon its first positive momentum of the season.

It didn’t show up in the win column, but the Seminoles looked like a totally different team on offense facing a tough Notre Dame defense.

The Seminoles — who managed a total of 23 points in their first two games against FBS opponents this season — nearly matched that total in the first quarter alone against the Fighting Irish.

No. 5 ND (3-0, 2-0 in ACC) proved to be too much in the end, running away with a 42-26 win over the Seminoles (1-3, 0-3 in ACC) in front of a reduced crowd of 10,409 fans at Notre Dame Stadium, but it was an effort the Seminoles look to be able to build upon.

Making his first career start, FSU quarterback Jordan Travis led FSU to an early 3-0 lead off an ND turnover and a 17-14 lead at the end of the first quarter.

More: Final: Florida State falls 42-26 at No. 5 Notre Dame

More: Dick Vitale book on ‘Lost’ 2020 men’s basketball season has happy ending for Seminoles

The Irish took the lead back on the first possession of the second quarter and held it for good from there, but the Seminoles hung around into the closing minutes, battling a great deal more than they did two weeks ago at Miami.

The good news was that the Seminoles amassed 405 yards of offense against a stifling Notre Dame defense. The bad news was that they allowed Notre Dame to rack up 554.

Jordan Travis has brought the FSU offense to life

It was easy to excuse away what Travis did in FSU’s win over Jacksonville State due to the talent level of the

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