Perritt Capital Management commentary for the second quarter ended Junee 2020, titled, "Wall Street and Main Street Get a Divorce."
Q2 2020 hedge fund letters, conferences and more
Wall Street and Main Street have gotten a divorce, or at the very least they have separated. The U.S. is in a recession but the stock market marches blindly higher. In most people’s lives we have never seen such a confluence of dangers: Depression levels of unemployment, the economy in a downward spiral, prevalent rioting and unrest, and an imminent second wave of the virus. Yet the stock market continued upward and celebrates information, such as jobs data that is slightly misleading. The S&P 500 has had the biggest rally in...

