SPHB

Today, I would like to share with the Seeking Alpha community parts of my third quarter letter to DM Martins Multi-Asset Fund's partners.The period marked the end of the "everything rally" in August and the tumbling of stocks in September.It's against the backdrop of resurgent COVID-19 cases, economic uncertainty, political instability and increase in market volatility that we begin the fourth quarter of 2020.I maintain my conviction in the three pillars of a successful growth investment strategy: Broad diversification, controlled use of leverage if appropriate, and low tolerance for sizable losses.

Cathie Wood’s Ark Investment Management is well known for its wildly optimistic price target for Tesla Inc., its money-spinning bet on Bitcoin and the 81% return of its main fund this year. It’s less well known that almost none of its analysts has a finance background.

High-beta stocks have kicked into high gear in the past week. Ari Wald of Oppenheimer sees one chipmaker that could ride the rally. He joins Boris Schlossberg of BK Asset Management to discuss.

High beta stocks exhibit greater volatility than the broader market, meaning these stocks move up more than the market on a positive day, and vice-versa.