How About Some Positive News About the COVID-19 Pandemic?

By News

Some positive news about the Coronavirus from one of our managers:

  1. Vaccine Development: An experimental vaccine developed by Moderna, Inc. began the first stage of a clinical trial on Monday, with testing on 45 healthy adults in Seattle. [link]
  2. China’s new cases plummet: China has now closed down its last temporary hospital built to handle COVID-19. Not enough new cases to warrant them. [link]
  3. Drugs that work: Doctors in India have successfully treated two Italian patients with COVID-19, administering a combination of drugs — principally Lopinavir and Ritonavir, alongside Oseltamivir and Chloroquine. Several are now suggesting the same medical treatment, on a case-by-case basis, globally. [link] [link]
  4. Antibodies to the rescue: Researchers at the Erasmus Medical Center claim to have found an antibody that can fend off infection by COVID-19. [link]
  5. 103-year-old recovery: A 103-year-old Chinese woman has made a full recovery from COVID-19 after being treated for 6 days in Wuhan, China, becoming the oldest patient to beat the disease. [link]
  6. Stores re-opening: Apple has reopened all 42 of its Apple retail stores in China. [link]
  7. Test results in 2 hours: Cleveland’s MetroHealth Medical Center has developed a COVID-19 test that can now deliver results in just two hours, rather than in a matter of days. [link]
  8. South Korea’s dramatic drop in new cases: After its peak of 909 newly reported COVID-19 cases on February 29th, South Korea has now seen a dramatic drop in the number of new cases reported daily. [link]
  9. Mortality rates inflated?: Experts predict that Italy has seen a higher mortality rate of COVID-19 given its significant aging population, as well as its higher percentage of COVID-19 patients with pre-existing health conditions. This might suggest that COVID-19’s fatality rate may have been slightly more inflated than previously thought for the general population. [link]
  10. Israeli vaccine development: More than 50 scientists in Israel are now working to develop a vaccine and antibody for COVID-19, having reported significant breakthroughs in understanding the biological mechanism and characteristics of the novel coronavirus. [link]
  11. Full recoveries: Three patients in Maryland who tested positive for COVID-19 have now been reported to have “fully recovered.” [link]
  12. Isolated virus: A network of Canadian scientists isolated the COVID-19 virus, which can now be replicated to test diagnostics, treatments, and vaccines. [link]
  13. Yet another vaccine in the works: San Diego biotech company Arcturus Therapeutics is developing a COVID-19 vaccine in collaboration with Duke University and National University of Singapore. [link]
  14. Treatment protocols: Seven patients who were treated for COVID-19 at Jaipur’s Sawai Man Singh (SFS) Hospital and Delhi’s Safdarjung Hospital in India have recovered. The treatment protocol will be widely scaled to other hospitals. [link]
  15. Another treatment: Plasma from newly recovered COVID-19 patients (involving the harvesting of virus-fighting antibodies) holds promise for treating others infected by the virus. [link]

Some of COVID-19’s hardest hit nation victims are already emerging strong after peak infection, and biomedical innovators are tackling the virus at unprecedented speeds.

IMPORTANT TO REMEMBER… While everyone is concerned about the super-high mortality rate of this virus — which is calculated by the “number dead” divided by “the number who have tested positive” (currently ~8,000/200,000) — the denominator, i.e. the number infected is actually VERY hard to know because so few people have been tested. It may well be that 10x more are infected but subclinical. So is the mortality rate 4% or 0.4%?

 

Endowment Index® Falls for Week Ending 3/13/2020

By Endowment Index
The Endowment Index® calculated by Nasdaq OMX® (Symbol: ENDOW) closed at 1,145.15 Friday, declining 10.44% from the previous Friday’s close of 1,278.65. The Endowment Index® represents the investable opportunity for managers of portfolios utilizing the Endowment Investment Philosophy® or otherwise incorporate alternative investments within a comprehensive asset allocation strategy. The Endowment Index® measures performance for a multi-asset, globally-diversified, three-dimensional portfolio that includes Global Equity, Global Income, and Alternative Investments (like Private Equity, Hedge Funds and Real Assets). The Index uses an objective, rules-based construction methodology based upon the portfolio allocations of over 800 educational institutions managing over $615 billion in total assets. Each of the 19 sub-indexes that currently comprise the index are investable, and contained within those sub-indexes are over 34,000 underlying securities. You can obtain real-time pricing data on the Endowment Index® under the symbol “ENDOW” through major quote providers, including Bloomberg, Google Finance and others. The Morningstar® Index ID for the Endowment Index® is F00000TPG6. Past performance is not necessarily indicative of future results. You cannot invest directly in an index. Indexes do not contain fees.

Endowment Index® Declines 0.22% for Week Ending 3/6/2020

By Endowment Index
The Endowment Index® calculated by Nasdaq OMX® (Symbol: ENDOW) closed at 1,278.65 Friday, declining 0.23% from the previous Friday’s close of 1,281.59. The Endowment Index® represents the investable opportunity for managers of portfolios utilizing the Endowment Investment Philosophy® or otherwise incorporate alternative investments within a comprehensive asset allocation strategy. The Endowment Index® measures performance for a multi-asset, globally-diversified, three-dimensional portfolio that includes Global Equity, Global Income, and Alternative Investments (like Private Equity, Hedge Funds and Real Assets). The Index uses an objective, rules-based construction methodology based upon the portfolio allocations of over 800 educational institutions managing over $615 billion in total assets. Each of the 19 sub-indexes that currently comprise the index are investable, and contained within those sub-indexes are over 34,000 underlying securities. You can obtain real-time pricing data on the Endowment Index® under the symbol “ENDOW” through major quote providers, including Bloomberg, Google Finance and others. The Morningstar® Index ID for the Endowment Index® is F00000TPG6. Past performance is not necessarily indicative of future results. You cannot invest directly in an index. Indexes do not contain fees.

Endowment Index® Falls Amid Heightened Volatility for Week Ending 2/28/2020

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The Endowment Index® calculated by Nasdaq OMX® (Symbol: ENDOW) closed at 1,281.59 Friday, declining 7.38% from the previous Friday’s close of 1,383.69.

The Endowment Index® represents the investable opportunity for managers of portfolios utilizing the Endowment Investment Philosophy® or otherwise incorporate alternative investments within a comprehensive asset allocation strategy. The Endowment Index® measures performance for a multi-asset, globally-diversified, three-dimensional portfolio that includes Global Equity, Global Income, and Alternative Investments (like Private Equity, Hedge Funds and Real Assets). The Index uses an objective, rules-based construction methodology based upon the portfolio allocations of over 800 educational institutions managing over $615 billion in total assets. Each of the 19 sub-indexes that currently comprise the index are investable, and contained within those sub-indexes are over 34,000 underlying securities. You can obtain real-time pricing data on the Endowment Index® under the symbol “ENDOW” through major quote providers, including Bloomberg, Google Finance and others. The Morningstar® Index ID for the Endowment Index® is F00000TPG6.

Past performance is not necessarily indicative of future results. You cannot invest directly in an index. Indexes do not contain fees.

Endowment Index™ Gains 1.20% for Week Ending 2/14/2020

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The Endowment Index™ calculated by Nasdaq OMX® (Symbol: ENDOW) closed at 1,390.32 Friday, gaining 1.20% from the previous Friday’s close of 1,373.86. The Endowment Index™ represents the investable opportunity for managers of portfolios utilizing the Endowment Investment Philosophy™ or otherwise incorporate alternative investments within a comprehensive asset allocation strategy. The Endowment Index™ measures performance for a multi-asset, globally-diversified, three-dimensional portfolio that includes Global Equity, Global Income, and Alternative Investments (like Private Equity, Hedge Funds and Real Assets). The Index uses an objective, rules-based construction methodology based upon the portfolio allocations of over 800 educational institutions managing over $615 billion in total assets. Each of the 19 sub-indexes that currently comprise the index are investable, and contained within those sub-indexes are over 34,000 underlying securities. You can obtain real-time pricing data on the Endowment Index™ under the symbol “ENDOW” through major quote providers, including Bloomberg, Google Finance and others. The Morningstar® Index ID for the Endowment Index™ is F00000TPG6. Past performance is not necessarily indicative of future results. You cannot invest directly in an index. Indexes do not contain fees.

Endowment Index™ Gains 1.51% for Week Ending 2/7/2020

By Endowment Index™
The Endowment Index™ calculated by Nasdaq OMX® (Symbol: ENDOW) closed at 1,373.86 Friday, gaining 1.51% from the previous Friday’s close of 1,353.47. The Endowment Index™ represents the investable opportunity for managers of portfolios utilizing the Endowment Investment Philosophy™ or otherwise incorporate alternative investments within a comprehensive asset allocation strategy. The Endowment Index™ measures performance for a multi-asset, globally-diversified, three-dimensional portfolio that includes Global Equity, Global Income, and Alternative Investments (like Private Equity, Hedge Funds and Real Assets). The Index uses an objective, rules-based construction methodology based upon the portfolio allocations of over 800 educational institutions managing over $615 billion in total assets. Each of the 19 sub-indexes that currently comprise the index are investable, and contained within those sub-indexes are over 34,000 underlying securities. You can obtain real-time pricing data on the Endowment Index™ under the symbol “ENDOW” through major quote providers, including Bloomberg, Google Finance and others. The Morningstar® Index ID for the Endowment Index™ is F00000TPG6. Past performance is not necessarily indicative of future results. You cannot invest directly in an index. Indexes do not contain fees.

Endowment Index™ Declines for Week Ending 1/31/2020

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The Endowment Index™ calculated by Nasdaq OMX® (Symbol: ENDOW) closed at 1,353.47 Friday, decreasing 2.08% from the previous Friday’s close of 1,382.19. The Endowment Index™ represents the investable opportunity for managers of portfolios utilizing the Endowment Investment Philosophy™ or otherwise incorporate alternative investments within a comprehensive asset allocation strategy. The Endowment Index™ measures performance for a multi-asset, globally-diversified, three-dimensional portfolio that includes Global Equity, Global Income, and Alternative Investments (like Private Equity, Hedge Funds and Real Assets). The Index uses an objective, rules-based construction methodology based upon the portfolio allocations of over 800 educational institutions managing over $615 billion in total assets. Each of the 19 sub-indexes that currently comprise the index are investable, and contained within those sub-indexes are over 34,000 underlying securities. You can obtain real-time pricing data on the Endowment Index™ under the symbol “ENDOW” through major quote providers, including Bloomberg, Google Finance and others. The Morningstar® Index ID for the Endowment Index™ is F00000TPG6. Past performance is not necessarily indicative of future results. You cannot invest directly in an index. Indexes do not contain fees.

Endowment Index™ Falls for Week Ending 1/24/2020

By Endowment Index™
The Endowment Index™ calculated by Nasdaq OMX® (Symbol: ENDOW) closed at 1,382.19 Friday, decreasing 1.28% from the previous Friday’s close of 1,400.10. The Endowment Index™ represents the investable opportunity for managers of portfolios utilizing the Endowment Investment Philosophy™ or otherwise incorporate alternative investments within a comprehensive asset allocation strategy. The Endowment Index™ measures performance for a multi-asset, globally-diversified, three-dimensional portfolio that includes Global Equity, Global Income, and Alternative Investments (like Private Equity, Hedge Funds and Real Assets). The Index uses an objective, rules-based construction methodology based upon the portfolio allocations of over 800 educational institutions managing over $615 billion in total assets. Each of the 19 sub-indexes that currently comprise the index are investable, and contained within those sub-indexes are over 34,000 underlying securities. You can obtain real-time pricing data on the Endowment Index™ under the symbol “ENDOW” through major quote providers, including Bloomberg, Google Finance and others. The Morningstar® Index ID for the Endowment Index™ is F00000TPG6. Past performance is not necessarily indicative of future results. You cannot invest directly in an index. Indexes do not contain fees.

Endowment Index™ Gains 20.19% in 2019, Best Annual Performance Since 2009

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The Endowment Index™ represents the investable opportunity for managers of portfolios utilizing the Endowment Investment Philosophy™ or who otherwise incorporate alternative investments within a comprehensive asset allocation. The Index provides an objective tool used for portfolio comparison, investment analysis, and research and benchmarking by fiduciaries, trustees, portfolio managers, consultants and advisers to endowments, foundations, trusts, defined benefit/contribution plans and individual investors.

About the Endowment Index™ calculated by Nasdaq OMX®

The Endowment Index™ uses an objective, rules-based construction methodology based upon the portfolio allocations of over 800 educational institutions managing over $615 billion in total assets as of 12/31/2018. Each of the 19 sub-indexes that currently comprise the index are investable, and contained within those sub-indexes are over 34,000 underlying securities. Real-time pricing data on the Endowment Index™ can be viewed under the symbol “ENDOW” through major quote providers, including Bloomberg as well as public websites such as Google and Yahoo Finance. The Morningstar® Index ID for the Endowment Index™ is F00000TPG6.

Definitions:  Global 60-40 Stock-Bond Portfolio is an index comprised of 60% MSCI All-Country World Index + 40% Barclays Global Aggregate Bond Index.

Disclosures:  Information presented is for educational purposes only and is not intended as an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies, nor shall it be construed to be the provision of investment advice.  Past performance is not necessarily indicative of future results.  Endowment Index™ results are presented net of any underlying constituent exchange-traded fund expenses. Investments involve risk and unless otherwise stated, are not insured or guaranteed.  Be sure to consult with a qualified financial adviser and/or tax professional before implementing any investment strategies discussed herein.  

 ETF Model Solutions, LLC is registered as an investment adviser with the SEC.   ETF Model Solutions is an affiliate of Endowment Wealth Management, Inc., an SEC registered investment adviser.  Registration does not imply a certain level of skill or training.  You cannot invest directly in an index. Indexes do not contain fees.   A copy of the Firm’s disclosure document, Form ADV Brochure Part 2, is available upon request.

The Endowment Index™ is the exclusive property of ETF Model Solutions, LLC under license from its affiliate, Endowment Wealth Management, Inc. (“EWM”). EWM has contracted with The NASDAQ OMX Group, Inc. (collectively, with its subsidiaries and affiliates, “NASDAQ OMX”) to calculate and maintain the Endowment Index™. NASDAQ OMX® shall have no liability for any errors or omissions in calculating the Endowment Index™.

 NASDAQ OMX® provides either actual historical index values or back-tested histories for certain indexes.  All back-tested index values for periods prior to the launch date of an index are merely indicative, and they are provided “AS IS” for informational and educational purposes only.  NASDAQ  OMX® makes no guarantee as to the accuracy, timeliness, completeness, or fitness for any particular purpose of or for any index values, either historical or back-tested. Nothing contained herein should be construed as investment advice, either on behalf of a particular security or an overall investment strategy. Past performance is not indicative of future results.

 Endowment Index™ historical back test was constructed based upon actual reported historical asset allocations of reporting fund managers, with those allocations held constant for 1 year. Underlying index price data based upon monthly prices. 

 Back-tested performance is NOT an indicator of future actual results. There are limitations inherent in hypothetical results particularly that the performance results do not represent the results of actual trading using client assets, but were achieved by means of retroactive application of a back tested model that was designed with the benefit of hindsight. The results reflect performance of a strategy not historically offered to investors and do NOT represent returns that any investor actually attained. Back-tested results are calculated by the retroactive application of a model constructed on the basis of historical data and based on assumptions integral to the model which may or may not be testable and are subject to losses.

 Back-tested performance is developed with the benefit of hindsight and has inherent limitations.  Specifically, back-tested results do not reflect actual trading, or the effect of material economic and market factors on the decision-making process, or the skill of the adviser. Since trades have not actually been executed, results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity, and may not reflect the impact that certain economic or market factors may have had on the decision-making process. Further, back-testing allows the security selection methodology to be adjusted until past returns are maximized. Actual performance may differ significantly from back-tested performance.

Endowment Index™ Increases for Week Ending 1/10/2020

By Endowment Index™
The Endowment Index™ calculated by Nasdaq OMX® (Symbol: ENDOW) closed at 1,383.39 Friday, increasing 0.28% from the previous Friday’s close of 1,379.58. The Endowment Index™ represents the investable opportunity for managers of portfolios utilizing the Endowment Investment Philosophy™ or otherwise incorporate alternative investments within a comprehensive asset allocation strategy. The Endowment Index™ measures performance for a multi-asset, globally-diversified, three-dimensional portfolio that includes Global Equity, Global Income, and Alternative Investments (like Private Equity, Hedge Funds and Real Assets). The Index uses an objective, rules-based construction methodology based upon the portfolio allocations of over 800 educational institutions managing over $615 billion in total assets. Each of the 19 sub-indexes that currently comprise the index are investable, and contained within those sub-indexes are over 34,000 underlying securities. You can obtain real-time pricing data on the Endowment Index™ under the symbol “ENDOW” through major quote providers, including Bloomberg, Google Finance and others. The Morningstar® Index ID for the Endowment Index™ is F00000TPG6. Past performance is not necessarily indicative of future results. You cannot invest directly in an index. Indexes do not contain fees.