covid19

The Lebenthal Report Episode #139: The History of Biotech with Tim Harris

This week on the Lebenthal Report, Michael and Dominick welcome molecular biologist, biochemist, and author Tim Harris. Together, they discuss the promising future of gene therapy, the biotech industry's evolution, and the role of technology in driving innovation. They explore the origins of biotechnology, from early breakthroughs like the cloning of the insulin gene to the pivotal moments that shaped the industry. The conversation also covers recent market trends, the upcoming Federal Reserve interest rate cut, and AI’s impact on drug development. Key topics include COVID vaccines, CRISPR technology, and the parallels between biotech’s early days and today’s AI landscape.

For more insights into the exciting world of biotech, be sure to grab a copy of Tim Harris' book "In Pursuit of Unicorns", which comes out tomorrow, September 17th!

Prudential Zoom Call

Back by popular demand, we had Dr. Quincy Krosby, Chief Market Strategist at Prudential, join us on December 1, 2020 for a post-election market update via Zoom. We enjoyed hearing her well informed and common sense view of the country and the world. She is calling her presentation "Closing in on the Other Side". You can listen to the recording on Youtube here.

BlackRock Conference Call Summary

Dear Friends and Clients,

As a follow up to our conference call with BlackRock Funds, I am happy to attach a copy of the call for you to listen to again if you would like to, or if you did not get a chance to listen on Friday. The comments from our speaker, Blackrock Funds Director and Product Strategist Dan Coppens, are still very relevant. We were pleased to learn that over 140 people decided to join the conference.

A few takeaways from Dan were:

  • Although the market staged a historic three day rally last week, there is still some selling that needs to take place in the market in order for a firm bottom to be established  (Translation: we are not out of the woods quite yet)

  • The bond market has seemed to calm down, and liquidity and yields are beginning to return to normal.

  • The biggest concern right now is if the economy will fall into a deep recession before the virus peaks, causing the bounce back to be longer and more difficult. Ideally, the virus will hit its apex before the economy tips over.

  • The Federal Reserve is buying $75 billion in bonds across the spectrum on a daily basis. This is unprecedented action on their part.

  • Over the past six weeks investors have parked $286 billion in money market funds waiting to be redeployed into the market.

When the opportunity presents itself, we will arrange a new call down the road. In the meantime, please feel free to contact us with any questions.

Sincerely,

Michael Hartzman, CFP          

Lebenthal Financial Services, Inc.

516-349-5555

Dominick Tavella

Lebenthal Global Advisors

516-785-1800