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Finished at 2.40pm.



Short political comment - I'm slightly alarmed by overnight news from America about riots and looting.

Everything in America tends to be bigger and louder, and that goes for civil unrest, too.

Check out this tweet from the verified Twitter account of the City of Minneapolis:

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That police building has been abandoned by the authorities and set on fire by the protestors.

I've seen videos of protestors climbing on top of moving vehicles and emptying large department stores. There is unrest in Minneapolis, Denver and LA.

But I don't want to overstate the importance of these events.

I was living in London during the riots of 2011, and remember thinking how strange they were - but they ended soon enough, and weren't talked about much afterwards.

It's no coincidence that they happened in August - rioting is much less fun in the cold and rain.

The relevance to investors is that we are about to have a very noisy election season in the US, and I'd expect tensions to be high for the next few months. We can look forward to thousands of headlines about the Trump/Biden contest.

Most of these stories can be safely ignored by investors, but I wouldn't want to ignore them completely.

The extremely divided country is still a great place to invest, but politics will be an important theme this year. For example, President Trump has just signed an executive order to make it easier to sue social networks.

The monopolistic power of Big Tech (especially Twitter and Facebook, but others too) could be vulnerable.

I own shares in Alphabet and through Berkshire Hathaway, I also own Amazon and Apple.

Since the outcome of this year's election will play a big role in determining US tax policy, competition policy, trade policy, and (increasingly) monetary policy for the next four years, I think it's compulsory to keep half on eye on it.



Judges Scientific (LON:JDG)

  • Share price: 4970p (+1.5%)
  • No. of shares: 6.3 million
  • Market cap: £310 million

Acquisition of Health Scientific…

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