Baseball, Perfection and Vaccinations – Entasis Newsletter 4Q2020

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Newsletter Summary

  • At Entasis we prefer to hit for high average than to swing for home runs.  Over time it should produce more consistency and less volatility.
  • We believe the U.S. stock market is priced close to perfection. When that happens, it does not take much to disappoint.  Globally, there remain pockets of opportunity.
  • Until a significant portion of the population gets vaccinated, we expect an uneven recovery and further fiscal and monetary stimulus.