<img class="gwt-Image" src="/photo/32832687.cms" />Global investors are seeing India as the next big opportunity for investment, says <keyword id="2172446" type="UNKNOWN" weightage="60" keywordseo="Marco-Ravagli">Marco Ravagli</keyword>, director and senior portfolio manager for global emerging markets at Deutsche Asset and Wealth Management. Ravagli, whose fund manages assets worth $1.28 trillion, says India can be a good alternative to China because of the huge opportunities it offers. In an interview with ET’s Biswajit Baruah, Ravagli talks about Indian markets, the apprehensions of foreign investors and the sectors he is overweight on. 
 
Markets are rallying on hopes of a BJP-led stable government coming to power after the elections. How do you see markets behaving, post elections? 
 
We hope India will have a strong and stable government, a government that will help speed up reforms. You already have a very strong central bank, one of the reasons why India has been able to outperform other countries in emerging markets. Post elections, a strong government will help push the reforms agenda further. India is on its marks and is waiting for a start. We believe that India can be a good alternative to China in the emerging market basket from the global investors’ perspective as there is plenty of opportunities. 
 
Your fund house has ‘neutral’ rating on India. Are you apprehensive of the election outcome? 
 
We are in an electoral campaign. Experience tells me that everyone in an electoral campaign will make promises. The reason why we are neutral on India is due to the upcoming general elections. Global investors favour a strong government and, frankly speaking, it doesn’t matter which party wins, they just want a stable government that pushes ahead the reforms agenda. 
 
In comparison with previous years, emerging markets have seen tepid flows so far this year. Is there a higher risk in EMs compared with developed markets at this point? 
 If you are a global investor, you see better opportunities in developed markets. The US <keyword id="34412" type="ORGANIZATION" weightage="40" keywordseo="economy">economy</keyword> is still improving. In Europe, the <keyword id="35050" type="CITY" weightage="40" keywordseo="gdp">GDP</keyword> growth prospects are getting better. In emerging markets, general elections are scheduled during the year in many countries -- India, Brazil, Indonesia, Turkey and South Africa. As a result, developed countries look less risky than emerging markets in the medium term. Right now, the biggest conundrum is China and India. In China, the new politburo is undertaking a major reform. While this is positive, we don’t know how long it will take for the reforms to have a real impact since it’s a huge country. In India, in the short term, we are waiting for the elections and investors are not ready to take a bet on the elections. 
 
The Fed is expected to announce further tapering of its quantitative easing programme. How will this impact emerging markets, including India? 
 After the recent Fed <keyword id="6364480" type="POSITION" weightage="40" keywordseo="Chairman">chairman</keyword>’s speech, it’s pretty clear that another round of tapering is coming, but not as fast as some predicted. The start of tapering means the US economy will go back to a normal growth path. But that does not imply, contrary to people’s expectations, that <keyword id="6371181" type="UNKNOWN" weightage="40" keywordseo="interest-rates">interest rates</keyword> will rise in the near future. The short-term impact is it would not be that positive for EMs. At Deutsche Asset &amp; Wealth Management, we are still underweight on emerging markets and tapering is one of the reasons. We think that as soon as the tapering talks hit the markets again, we will get a better buying opportunity for emerging markets. The Fed is buying $10 billion less than it used to, but they are still buying. It all depends on the macro numbers in the US. The employment numbers in the US are the key. Economists wonder if the dip in employment numbers is indeed for the long term. We believe that if <keyword id="22195" type="COMPANY" weightage="40" keywordseo="Inflation">inflation</keyword> is also under control, then rates will continue to stay low. 
 
We have seen many sovereign wealth funds participating in Indian markets. How do you rate India as an investment destination among emerging markets? 
 Global <keyword id="47916" type="UNKNOWN" weightage="40" keywordseo="invest">invest</keyword>ors recognise India’s potential and view the country as the next big opportunity for investment. They hope that the new, strong government will push reforms in a big way. This will be a boon not only for the markets, but also for steady growth. As an emerging market investor, we see the country offering great growth opportunities not just for the next 2-3 years, but over a 5-10 year horizon. We are keen to invest in a country that can deliver sustainable doubledigit growth and cash flow for the next 3-5 years.

India A Better Alternative To China: Deutsche

Tournament story-makers <keyword id="19896116" type="General" weightage="20" keywordseo="Afghanistan" source="keywords">Afghanistan</keyword> will be up against perennial dark horses <keyword id="19899437" type="General" weightage="20" keywordseo="South-Africa" source="keywords">South Africa</keyword> in the first <keyword id="20306462" type="General" weightage="20" keywordseo="semifinal" source="keywords">semifinal</keyword> of the <keyword id="19921630" type="General" weightage="20" keywordseo="T20-World-Cup" source="keywords">T20 World Cup</keyword> here, a much-anticipated showdown that will be historic irrespective of the outcome. Without belittling the poised run of the Proteas, Afghanistan have been the revelation of this ICC showpiece. They found life and fighting spirit to rise above the ravages of war back in their country, best exemplified by an astounding win over 2021 winners Australia, whom they had never beaten before. There were multiple heroes -- skipper Rashid Khan has been immense throughout, pacers Fazalhaq Farooqi and Naveen-ul-Haq have given early breakthroughs, Gulbadin Naib conjured a miraculous spell against the Aussies while Mohammad Nabi remained perseverant. Opener Rahmanullah Gurbaz leads the batting chart with 281 runs, while Farooqi is on top of the bowling list with 16 scalps. It is a story in itself as how two Afghanistan players have raced past some marquee names to the top of the stats table. But all of it can come to nothing if they falter at the Brian Lara Academy, a venue named after the West Indian legend who has supported Afghanistan to the hilt. The Afghans are a skilled set of cricketers, on whose back the team rose brilliantly from the low-tier obscurity of the early 2000s. So, they are not unfamiliar to intense competition and T20, more than any other format, offers them the chance to challenge the big brothers. But they have never competed in the semifinal of a World Cup, and the Afghans now need to control their nerves to overcome a fancied opponent. Head coach Jonathan Trott affirmed his side was not perturbed by the big occasion. "We go into the semifinal with no scarring or no history. This is uncharted territory for us. But, by no means, do we feel like we're going into the semifinal just to compete. "We're there to win the semifinal. We've beaten some major teams," Trott said after the win over Bangladesh. South Africa's scars also run deep but they are purely of cricketing nature. In the past, the Proteas have assembled some high-velocity squads but never managed to enter the title round of a T20 or 50-over World Cup after their re-admission into world <keyword id="19919646" type="General" weightage="20" keywordseo="cricket" source="keywords">cricket</keyword> in 1991. To change that long-running show of misfortune, South Africa need to tame not just Afghanistan but also the demons in their own minds. The signs have so far have given hope. In this event, they have shown a propensity to win the clutch moments, their Achilles Heel in previous global tournaments, that often prop up without any warning. But here, they have notched up victories as close as one-run (vs Nepal), four-run (vs Bangladesh) and three wickets (vs West Indies). South Africa of old could have bungled in those situations, but Aiden Markram's side has displayed remarkable fortitude. They seem to have escaped the hackneyed C-Word. Experienced left-arm spinner Keshav Maharaj explained his team's run in this World Cup. "If you look at previous World Cups, the small moments, we haven't really won. It's good to see that all the games have come really close and we've found a way, so it's building the character within the team. "It prepares us for certain opportunities that we could get and cross over the line in those small moments. These are things that we've never done before. So, it's good to see us getting into that," said Maharaj. His words offer a true reflection of the collective effort South Africa have made here. There is only one South African player in top-10 batters' list. Quinton de Kock is placed sixth with 199 runs from seven matches, while none of their bowlers feature inside the first 10. But here they are, playing in the semifinal and they will have to negate those small, key moments against Afghanistan, perhaps in the next match too. For once, South Africa might not feel overwhelmed by that thought. If Afghanistan too can keep their heartbeats in check, a classic for the ages seems well on the cards. Squads: Afghanistan: Rashid Khan (c), Rahmanullah Gurbaz, Ibrahim Zadran, Azmatullah Omarzai, Najibullah Zadran, Mohammad Ishaq, Mohammad Nabi, Gulbadin Naib, Karim Janat, Nangyal Kharoti, Mujeeb Ur Rahman, Noor Ahmad, Naveen-ul-Haq, Fazalhaq Farooqi, Fareed Ahmad Malik. Reserves: Sediq Atal, Hazratullah Zazai, Saleem Safi. South Africa: Aiden Markram (c), Ottniel Baartman, Gerald Coetzee, Quinton de Kock, Bjorn Fortuin, Reeza Hendricks, Marco Jansen, Heinrich Klaasen, Keshav Maharaj, David Miller, Anrich Nortje, Kagiso Rabada, Ryan Rickelton, Tabraiz Shamsi, Tristan Stubbs. Match starts at 6am IST. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/stanley-lifestyles-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111261779.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/stanley-lifestyles-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111261779.cms" target="_blank">Stanley Lifestyles IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-nord-ce-4-lite-vs-poco-x6-which-phone-should-you-buy-under-25000/slidelist/111257892.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/oneplus-nord-ce-4-lite-vs-poco-x6-which-phone-should-you-buy-under-25000/slidelist/111257892.cms" target="_blank">OnePlus Nord CE 4 Lite vs Poco X6 – which phone should you buy under ₹25,000?</a><a href="https://www.businessinsider.in/stock-market/news/ipos-this-week-allied-blenders-and-vraj-iron-and-steel-look-to-raise-1671-crore/articleshow/111233159.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/ipos-this-week-allied-blenders-and-vraj-iron-and-steel-look-to-raise-1671-crore/articleshow/111233159.cms" target="_blank">IPOs this week – Allied Blenders and Vraj Iron and Steel look to raise ₹1,671 crore</a>

South Africa, Afghanistan look to rise above deep scars to seal T20 WC final berth

<ul class="summary-list"><li><keyword id="155317" type="ORGANIZATION" weightage="60" keywordseo="Republican">Republican</keyword> lawmakers unveiled a $1 trillion coronavirus relief package, dubbed the HEALS Act, on Monday.</li><li>The proposed package includes a provision to compensate businesses for "<keyword id="6436759" type="UNKNOWN" weightage="60" keywordseo="looting">looting</keyword> and vandalism due to public disturbances that occurred during 2020."</li><li>Since George Floyd's death at the knee of a police officer in May, protests have erupted in every state in the US and many parts of the world. </li><li>Republican lawmakers have railed against the property damage that has accompanied some of the demonstrations. </li></ul>Republican lawmakers proposed a $1 trillion coronavirus relief package, dubbed the HEALS Act, on Monday, to address issues including small business loans and expanding jobless aid.But the legislation, with mainly focuses on stimulating an economy ravaged by the <keyword id="8763838" type="UNKNOWN" weightage="60" keywordseo="covid-19">COVID-19</keyword> pandemic, includes a detail that hasn't been as widely discussed: a <a href="https://www.rubio.senate.gov/public/_cache/files/49aef1eb-2397-4200-8011-17bd4b35ad10/55738B7798C596512E3B9002EA0A23CC.continuing-small-business-recovery-and-paycheck-protection-program-act---mir20e14.pdf">bill</a> that includes a provision to compensate businesses for "looting and vandalism due to public disturbances that occurred during 2020."In short, the plan would extend Paycheck Protection Program loans to businesses for damages that occurred during protests that are not already covered by insurance.Since George Floyd's death at the knee of a police officer in May, protests have erupted in every state in the US, and many parts of the world. To the <a href="https://www.insider.com/george-floyd-protesters-in-brooklyn-guard-target-store-against-looters-2020-5">chagrin</a> of many protesting systemic racism and police brutality, vandalism and theft have followed some of the protests.Target <a href="https://www.businessinsider.com/target-temporarily-closes-24-minnesota-stores-amid-looting-2020-5">closed</a> 24 stories in Minnesota after looters smashed windows and made off with items including televisions and mannequins. Luxury retailers like Chanel, Gucci, and Hermes boarded up their store fronts in SoHo and Beverly Hills after being <a href="https://www.businessinsider.com/luxury-stores-looted-vandalized-nyc-la-george-floyd-murder-protests-2020-6">spray-painted and ransacked</a>.And small businesses have not been immune. In Atlanta, restaurant owner Derrick Hayes, who is Black, was left reeling when the windows of his restaurant were smashed. "Of course, I was hurt, but the bigger picture is another human being lost his life, and he's a Black man," said Hayes in an interview with <a href="https://www.gofundme.com/f/big-daves-cheesesteak-recovery-fund">WSB-TV</a>. "So I understand the bigger picture is us getting justice and human rights and everybody gets treated equally."Hayes turned to GoFundMe to make up the losses, and since meeting his goals, is working on fundraising for other Black-owned businesses negatively affected by vandalism and theft.Still, the national conversation around protest and vandalism is fraught. 64% of Americans are sympathetic to protesters, but 79% say that property damage ultimately undermines their cause, according to a Reuters/Ipsos <a href="https://www.ipsos.com/en-us/news-polls/reuters-ipsos-civil-unrest-george-floyd-2020-06-02">survey</a>.Senators Marco Rubio of Florida and Susan Collins of Maine, who introduced the bill together, aren't the first Republicans to suggest providing relief specifically tailored to businesses damaged during protests.At a hearing in June, Senator John Kennedy, a Republican from Louisiana, asked Treasury Secretary Steven Mnuchin to look into quantifying the monetary damage from protests, and floated the idea of using extra CARES Act funds to help businesses damaged by those protesting the death of George Floyd. "Take some of that money and make it available to the businesses, mostly small businesses, but to the businesses that have been lost as a result of the burning and the looting and the felony rioting," Kennedy told Treasury Secretary Steven Mnuchin during the hearing. "I think they're going to need help."This provision is part of a larger bill that would offer an additional $60 billion in forgivable loans to small businesses. It would allow employers to get a second Paycheck Protection loan, with a focus on businesses that are owned by people of color, reliant on seasonal revenues, or situated in low-income communities. The bill also expands paycheck protection program funds for personal protective equipment, testing, cleaning, and other expenses that make their establishments safer. Congress has already allocated $670 billion in forgivable loans for small businesses through the Paycheck Protection Program. Since its passage, 4.9 million small employers have received $519 billion in loans, according to Senator Susan Collins of Maine.Still, there are difficult days ahead for this bill and the broader Republican relief package, dubbed the HEALS Act. Democrats like Senate Majority Leader Chuck Schumer have called the package "totally inadequate," and are pushing for their solution, the $3 trillion HEROES Act, to be passed instead. Even some Republicans have criticized the plan, slamming it for including $1.75 billion in funding for a new FBI building.For senators, this may be the last stimulus bill they pass before elections this November, and the stakes are high."We've got a lot of negotiating to do," said Senator Thom Tillis, a Republican from North Carolina.

The $1 trillion stimulus package proposed by Republicans would compensate businesses for 'vandalism or looting due to public disturbances that occurred during 2020'

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5a9043c0aae60573058b45dd-2000/rts1ego1.jpg" border="0" alt="rick scott" data-mce-source="Reuters/Joshua Roberts" data-mce-caption="Florida Governor Rick Scott speaks about hurricane relief measures for Florida and Puerto Rico at the White House in Washington, U.S., September 29, 2017." />Reuters/Joshua RobertsFlorida Governor Rick Scott speaks about hurricane relief measures for Florida and Puerto Rico at the White House in Washington, U.S., September 29, 2017.</div></div></div><ul class="summary-list"><li>Florida Gov. Rick Scott claimed victory in the US Senate race in Florida.</li><li>The state had been recently ravaged by a hurricane, which put much of the campaign activities for both candidates on hold.</li><li>Scott would serve alongside Republican Marco Rubio in the Senate, who won reelection in 2016.</li></ul><hr />Florida Gov. Rick Scott claimed victory in the US Senate race in Florida, where he would unseat Democratic incumbent Sen. Bill Nelson.Scott, the Republican candidate, had been serving as governor since 2011, but was barred from running for reelection again due to Florida's swift term limits. Nelson conceded after midnight, <a href="https://www.tampabay.com/florida-politics/buzz/2018/11/07/rick-scott-wins-florida-u-s-senate-race-defeating-three-term-incumbent-bill-nelson/" target="_blank" rel="noopener">according to the Tampa Bay Times</a>."Congratulations to Governor Rick Scott on his hard-fought victory tonight. During his time as Florida's Governor, Rick Scott has worked tirelessly to turn around Florida's economy and create good-paying jobs across the state. It's clear his leadership has not gone unnoticed by Floridians," National Republican Senatorial Committee Chairman Cory Gardner said in a statement.He added: "Tonight, voters have sent a strong message that they want a proven leader representing them in Washington, and we have no doubt that Governor Scott will continue to deliver for Floridians in the U.S. Senate."During the course of the election cycle, Scott spent tens of millions of dollars from his vast personal fortune to bolster his own campaign. In the final two weeks, he spent nearly $12.5 million, bringing the total to over $64 million of his own money, according to the <a href="https://www.tampabay.com/florida-politics/buzz/2018/11/01/nine-days-11-million-rick-scott-pumps-more-of-his-wealth-into-florida-senate-race/">Tampa Bay Times</a>.Nelson, the incumbent Democrat, has been serving in the Senate since 2001. Though at the start of the 2018 campaign, Nelson still had a relatively <a href="https://www.politico.com/states/florida/story/2017/10/24/unf-poll-shows-nelson-tied-with-scott-struggling-with-name-id-115213">low level of name recognition</a> in his state.Nelson regularly hit Scott for his environmental record, and enlisted the help of former President Barack Obama, who made a last-minute swing through the state on Friday for the several candidates on the ballot in Florida.At the Miami rally, Obama bolstered Nelson keeping his Senate seat a key component of uniting Americans from the sharp racial and political divides plaguing the country."In four days you can choose a bigger, more prosperous, more generous vision of America - an America where love and hope conquer hate," he said.Read more: <a href="https://www.businessinsider.com/top-officials-unsure-of-sen-bill-nelsons-russian-interference-claim-2018-8">A Democratic senator in a tight re-election race says Russians are interfering in his campaign - but some top officials say they don't know what he's talking about</a>Florida, one of the most crucial swing states, had been hit with a hurricane just several weeks before Election Day. During the cleanup effort, both candidates sparred with each other as they attempted to fulfill the duties to their constituents.The state was a hotbed for highly contested races in 2018, with many swing districts battling it out for House seats. In addition, the gubernatorial race between Republican Rep. Ron DeSantis and Tallahassee Mayor Andrew Gillum became one of the most heated in the country.Gillum sparred with DeSantis over campaign tactics and rhetoric, which he said made racists and white nationalists very fond of the Republican Trump ally."Now, I'm not calling Mr. DeSantis a racist, I'm simply saying the racists believe he's a racist," Gillum <a href="https://www.businessinsider.com/andrew-gillum-debate-ron-desantis-racists-believe-he-is-racist-2018-10">said</a> during a heated debate.DeSantis ultimately <a href="https://www.businessinsider.com/ron-desantis-defeats-democrat-andrew-gillum-florida-governor-2018-11?r=UK&amp;IR=T">defeated</a> Gillum, who conceded earlier Tuesday evening.<h2>Trump won Florida in 2016, convincing Republicans to go all in on the swing state's Senate race</h2>The Sunshine State went for President Donald Trump in the 2016 presidential election, handing him a key victory in his path to winning the presidency.Trump traveled to Florida at the end of October during his final stint on the campaign trail to bolster Republicans. During a rally, Trump bashed Nelson as "a vote for Chuck Schumer.""I am here a lot and I never see Sen. Nelson until six months before the election," Trump added. The fate of Nelson's seat was another key component in Republicans' ability to strengthen their majority in the Senate. Florida was among the high priority targets for the National Republican Senatorial Committee in their endeavor to flip several seats from blue to red.In unseating Nelson, Scott has solidified Florida as a Republican stronghold in the Senate for several years to come. Scott is also primed to position himself as another crucial ally for Trump in the Senate, which will no doubt continue its <a href="https://www.businessinsider.com/mitch-mcconnell-look-how-angry-the-left-is-with-gop-senate-2018-9">breakneck speed</a> of confirming judicial nominees, a top priority for the White House and Senate Majority Leader Mitch McConnell. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/economist-weighted-voting-could-help-save-us-democracy-2018-5">This top economist has a radical plan to change the way Americans vote</a></h3> <div> <iframe class="bijwplayerclass" data-player="jwplayer" src="https://content.jwplatform.com/players/tdQolVXA-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;" allowfullscreen=""></iframe><script>function receiveMessage(event){ console.log(event.data.fullscreen); Android.fullscreen(event.data.fullscreen); }window.addEventListener("message", receiveMessage, false);</script> </div> </div>

Rick Scott claims victory in Florida Senate race over longtime Sen. Bill Nelson

Hello, everyone! Welcome to the new edition of <keyword id="9095853" type="UNKNOWN" weightage="60" keywordseo="insider-today">Insider Today</keyword>. Please <a href="https://www.insider.com/insider-today">sign up here</a>.<h2>QUOTE OF THE DAY</h2>"The film represents enslaved Black people in accordance with longstanding stereotypes, as servants, notable for their devotion to their white masters or for their ineptitude. And the film's treatment of this world through a lens of nostalgia denies the horrors of slavery as well as its legacies of racial inequality." — Film scholar Jacqueline Stewart's <a href="https://www.insider.com/gone-with-the-wind-returns-to-hbo-max-2020-6">new introduction to Gone with the Wind</a>, which returned to HBO Max after having being pulled off the network earlier in June.<h2>WHAT'S HAPPENING</h2><keyword id="8763838" type="UNKNOWN" weightage="60" keywordseo="covid-19">COVID-19</keyword> caseloads are spiking. The US recorded more than 36,000 new cases on Wednesday, the highest number of the <keyword id="43587" type="ORGANIZATION" weightage="60" keywordseo="pandemic">pandemic</keyword>, with particularly bad outbreaks in Florida, Texas, California, and Arizona. <a href="https://www.businessinsider.com/experts-worry-full-blown-outbreak-us-daily-cases-surge-2020-6">The Trump administration seems blase</a>. US weekly jobless claims: 1.5 million. That's <a href="https://www.businessinsider.com/us-weekly-jobless-claims-filings-unemployment-insurance-coronavirus-recession-economy-2020-6">much worse than economists had expected,</a> and marks the 14th consecutive week with more than 1 million claims. The Treasury Department sent $1.4 billion in stimulus checks to dead people. The GAO found that <a href="https://www.businessinsider.com/stimulus-checks-dead-people-treasury-department-sent-trump-billion-amount-2020-6">1.1 million checks went to dead people</a>. The IRS says it will take back the money, but doesn't plan to do it anytime soon. Supreme Court upholds Trump Administration's limits on asylum seekers. The justices agree that<a href="https://www.washingtonpost.com/politics/courts_law/supreme-court-agrees-with-trump-administration-on-limits-on-asylum-seekers/2020/06/25/695b3b74-b6e8-11ea-a510-55bf26485c93_story.html"> asylum seekers rejected by an immigration official during an initial screening</a> don't have the right to appeal to a judge.<h2>VIEWS OF THE DAY</h2><h2><div type="image" title="donald trump no mask coronavirus" height="1000" width="2000" msid="76632996" hostid="261"></div></h2>Masking would help Trump, so why has he rejected it? Four theories. The US has lost the fight against coronavirus. COVID-19 is ravaging the South and West. Yesterday was the worst day for new cases in the US since the outbreak started. We squandered the lockdown. We didn't test enough. Contact tracing is nonexistent. States and agencies record and report data in dishonest and slothful ways. All of this has pushed what Trump desperately wants — an actually reopened <keyword id="34412" type="ORGANIZATION" weightage="60" keywordseo="economy">economy</keyword> — further and further away. A visiting alien who knows nothing about this country would ask themself: Why has the president repudiated the things that could help Americans stay healthy, and thus help him politically? Let's take one pungent, small example. It's been clear for months that wearing masks, especially in indoor spaces, especially in groups, is a small behavioral change with an outsized impact. It requires very little of citizens, and would have <a href="https://www.businessinsider.com/face-masks-effective-in-protecting-against-coronavirus-2020-6">a huge impact in reducing viral transmission</a>, caseloads, and deaths. In other countries, masking has quickly become practically universal and totally destigmatized — the way seatbelt wearing and handwashing are. Had the president and his team gone all out for masks, it would have easily quashed the masks-are-oppression crowd. Plus the country would be healthier, the economy would be stronger, and his poll numbers would be higher. So why didn't he? Here are four theories:<ol><li>Trump is vain. He thinks he looks bad with a <keyword id="6438835" type="UNKNOWN" weightage="60" keywordseo="mask">mask</keyword>, so he refuses to wear it. He similarly judges as ugly or weak any staffers who wear them, making masklessness the norm across the White House, which effectively turns demasking into policy</li><li>Owning the libs is more important than public health. Democrats are pushing for masking, which triggers certain conservative activists, who agitate that this is an important culture war battle — even though it's not. That works up the base and conservative media, which infects Trump. Masking would mean the libs got a win, and that can't be allowed, even if it kills people. </li><li>Masking infringes on individual liberty. Some on the right have become enthralled with a highly selfish conception of liberty that equates freedom with being able to do what you want. Historically conservatism has embraced a more expansive idea of liberty that emphasizes balancing your own desires with your obligations to protect and serve others. This selfish libertarianism spread on social media and into conservative media, and influenced the president.</li><li>Trump thinks magically. He's ignorant of <keyword id="41551" type="ENTERTAINMENT" weightage="60" keywordseo="science">science</keyword> and hasn't been interested in anything that's not a miracle. Trump has consistently hyped bogus cure-alls — the virus will simply vanish, there will be a vaccine in months, hydroxychloroquine will prevent infection. Masking by contrast offers a subtle, marginal benefit. </li></ol>Sadly, all four of these theories hold Trump in their thrall. He can't shake loose from them, even though it would actually help him get closer to what he wants, which is reelection. — DPThe White House just proved John Bolton's point about Trump's China policy, and Republicans helped.<div type="image" title="Trump xi" height="512" width="1024" msid="76633001" hostid="261"></div>In former National Security Adviser John Bolton's new book he explains that Trump's China policy <a href="https://www.businessinsider.com/john-bolton-book-proves-trump-not-tough-china-xi-jinping-2020-6">isn't driven by any kind of principle, it's transactional</a>. Trump's base wants him to be tough on China, so he thinks he has to deliver for them to win reelection. That's why, Bolton writes, Trump veritably begged Chinese President Xi Jiinping to buy more US agricultural goods in order to please his base of farmers. It's why Trump doesn't care about Muslim concentration camps in Xinjiang or China's anti-democratic encroachment into Hong Kong.Of course, the White House denied all this and called Bolton a liar.That denial is belied by Trump's own actions. This week the White House asked Sen. Kevin Cramer, a Republican from North Dakota, <a href="https://www.politico.com/news/2020/06/24/kevin-cramer-blocks-china-sanctions-bill-338246">to block unanimous passage of a bill</a> that would sanction China for its actions in Hong Kong. And Cramer did, despite being a co-sponsor of the bill.Don't expect China hawks like GOP Senators Marco Rubio or Tom Cotton to speak up. They've been either mum or mealy mouthed about the allegations in Bolton's book. To stand up to the President's lack of principles, they would have to have some of their own. - LL<div type="image" title="FILE PHOTO: A child walks by newly painted George Floyd graffiti at the Cal Anderson Park Reflecting Pool as protesters against racial inequality occupy space at the CHOP area near the Seattle Police Department's East Precinct in Seattle, Washington, U.S. June 18, 2020. REUTERS/Lindsey Wasson/File Photo" height="2418" width="3224" msid="76633006" hostid="261"></div>Seattle businesses and residents sue city over CHOP As I wrote in this newsletter <a href="https://www.businessinsider.com/trump-visa-immigration-ban-bad-us-economy-image-2020-6">two days ago</a>, the party's just about over for Seattle's Capitol Hill Organized Protest Area (CHOP) — the six-square block zone in which authorities have allowed protesters to operate autonomously for nearly the past three weeks. After three shootings last weekend, Mayor Jenny Durkan said the city would start encouraging people "to go home," but would not be breaking up the zone with immediate and severe force. But the massive action against racism and police brutality has not come without costs to businesses and residents in the CHOP zone — some of whom have banded together in a <a href="https://www.documentcloud.org/documents/6956581-CHOPComplaint.html">class action lawsuit</a> against the city for the "extensive harm" they claim to have suffered as a result of the city's tolerance for a police-free zone.The litigants state right off the bat that they do "not seek to undermine CHOP participants' message or present a counter-message," but they believe their own "constitutional and other legal rights" were violated by the city's "unprecedented decision to abandon and close off an entire city neighborhood."Some of the plaintiffs are landlords who claim there property was damaged, but others are working-class businesses like a liquor store, a tattoo parlor, and an auto repair shop whose owner alleges his son was assaulted by a man with a knife who broke into the shop and started a fire. The suit alleges despite multiple 911 calls, police never came to their aid.Many reports indicated that at least during the daytime, the CHOP zone was a generally peaceful place of radical demonstration. But as the encampment's time winds down, this lawsuit is probably just the first chapter in a full accounting of the costs associated with this experiment in civic tolerance of anarchy. - AF<h2>BUSINESS &amp; ECONOMY</h2><div type="image" title="Chuck E. Cheese" height="1271" width="2543" msid="76633011" hostid="261"></div>Chuck E. Cheese filed for bankruptcy. The kids pizza entertainment chain was slammed by the pandemic. Or perhaps people didn't want to eat in a restaurant filled with giant singing rats. It was a bad week all-around for iconically goofy brands: <a href="https://www.businessinsider.com/the-rise-and-fall-of-the-segway-cops-and-tourists-2020-6">Segway is going to stop making Segways</a>. <h2>LIFE</h2>The 15 best cities for millennials. <a href="https://www.businessinsider.com/best-places-us-cities-for-millennials-ranked-2020-6">Cities where jobs are plentiful and life is fun.</a> Cambridge, MA tops the list, and San Francisco is second. A beautiful Italian town offers tourists free accommodation this summer. <a href="https://www.insider.com/italian-village-offering-tourists-free-accommodation-summer-san-giovanni-2020-6">San Giovanni in Molise is gorgeous but struggling</a>, so it will put you up for nothing if you visit. <h2>THE BIG 3*</h2><h2><div type="image" title="Zealandia_topography" height="1043" width="1391" msid="76633015" hostid="261"></div></h2><a href="https://www.businessinsider.com/maps-reveal-eighth-continent-zealandia-underwater-2020-6">New maps reveal the size and shape of the lost 8th continent. </a>Zealandia was submerged in the Pacific Ocean 30 million to 50 million years ago. and New Zealand is the biggest piece of it still above water. <a href="https://www.businessinsider.com/twitter-palm-beach-florida-mask-backlash-parks-and-recreation-2020-6">Twitter users liken Palm Beach masking squabble to Parks &amp; Rec.</a> Residents complained furiously about the county's new masking requirement: "They want to throw God's wonderful breathing system out the door," said one woman. Twitter mocked it all. <a href="https://www.businessinsider.com/nasa-is-offering-20000-lunar-loo-build-a-toilet-challenge-2020-6">NASA offering a $20,000 prize for a better space toilet. </a>They want one that will function both in space and on the moon. *The most popular stories on Insider today.

Why are masks political?

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5ba3c92c2546996f008b4568-2400/gettyimages-90046324.jpg" border="0" alt="chegg students" data-mce-source="Amy Graves/Getty" data-mce-caption="A general view during the Chegg.com Campus Takeover's Coffee with Chegg at Vieta Coffee on August 24, 2009 in Los Angeles, California." />Amy Graves/GettyA Chegg.com campus event in Los Angeles, California.</div></div></div><ul class="summary-list"><li>Neuberger Berman's Small Cap Growth Fund is outperforming its benchmark this year, thanks to a handful of healthcare and tech stocks. </li><li>Two of the fund's managers recently spoke to Business Insider about their strategy and some of their top stocks. </li></ul>Investors looking for under-the-radar stocks can find a fertile ground in the small-cap universe. In that space, companies worth between $200 million to $2 billion receive much less attention than the FANG stocks, for example. And the fund managers who perform best are able to jump on stocks that have catalysts the market has not yet recognized. This sums up the strategy of Neuberger Berman's Small Cap Growth Fund and its managers. The $100 million fund has appreciated by 28% this year, outpacing the 11% gain of the benchmark Russell 2000. It's also the best-performing fund this year across the firm, according to <a href="https://www.morningstar.com/tools/premium-fund-screener.html">Morningstar</a>. "We love it when almost nobody follows a company on the street, and we do our own research, and then they find out about it later," Ken Turek, a fund manager, told Business Insider. "If it's a good story, the stock price moves up."Turek also attributed the fund's performance to its relatively flat management structure. Unlike other funds, Turek and his colleagues don't have to run every stock pick by a head portfolio manager. "It was a much quicker way for ideas to get into the portfolio if we gave the authority to the sector analysts to actually institute trades," he said. "We run the portfolio with almost zero cash so when a new idea comes up, something else in the portfolio has to be moved out." What they won't buy, however, includes companies in commodity-based sectors like materials, chemicals, and others that they don't have an edge on. The stocks with the biggest weights in their portfolio are in healthcare and tech. Here are three of them. <h2>Sientra</h2>This company is one of three big players in the roughly $500 million market for breast implants and reconstruction surgery in the US, according to Marco Minonne, another fund manager. Its stock is up 155% this year.A fire ravaged <a href="https://markets.businessinsider.com/stocks/sien-stock">Sientra's</a> Brazilian manufacturer's plant in 2015, but Minonne sees the company recouping its lost market share in the breast-implant market over time. What he's really bullish about, however, is a product called MiraDry, which aims to treat excessive underarm sweating, a condition known as axillary hyperhidrosis. MiraDry's treatment destroys the sweat glands in armpits, and <a href="https://miradry.com/">promises</a> to deal with problems like stains on white undershirts. The procedure lasts for an hour, although side effects like soreness and tingling may linger for weeks. Minonne said Botox, an alternative treatment, is less desirable than MiraDry because it involves several doctor's visits and pricks.Sientra's return on investment is quick, he said, as the company can recoup the cost of one its machines within a year by treating one patient a week. "We also see a path towards a doubling of the stock over time if the MiraDray rollout comes out very similar to what CoolSculpting [a fat-reduction treatment] did for Zeltiq," Minonne said.Minonne estimated that the market for servicing patients who need to treat hyperhidrosis as a medical condition - not just those who want to sweat less - is about $1.5 billion.<div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image on-image"><a title_source="Markets Insider" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/5ba3acb45c5e5225008b645a-960/screen shot 2018-09-20 at 102005 am.png"><img src="https://static-ssl.businessinsider.com/image/5ba3acb45c5e5225008b645a-945/screen shot 2018-09-20 at 102005 am.png" border="0" alt="Screen Shot 2018 09 20 at 10.20.05 AM" data-mce-source="Markets Insider" data-link="https://markets.businessinsider.com/stocks/sien-stock" /></a><a href="https://markets.businessinsider.com/stocks/sien-stock">Markets Insider</a></div></div></div><h2>Chegg</h2>The company first earned its reputation as a place where students could buy or rent discounted textbooks.<a href="https://markets.businessinsider.com/stocks/chgg-stock">Chegg</a> still promises that students can save up to 90% off full prices, but has expanded its services into what Turek called an "Uber for tutors." That's a reference to the independent contractors who assist students in subjects ranging from algebra to medieval philosophy. "What parent isn't going to pay 20 bucks a month to have their kid do a better job in school and get better grades," Turek said. "And over time, they will probably add more services to the product line." He sees the company's success as stemming from word-of-mouth marketing among students and the ease of using the product. What also makes Chegg attractive is the size of its addressable market. According to the <a href="https://nces.ed.gov/fastfacts/display.asp?id=372">National Center for Education Statistics</a>, 15 million students are expected to enroll in high school this fall, and 20 million in college."They currently have like 2 million subscribers [2.2 million in 2017 according to company filings], so you don't have to be particularly heroic in your assumptions of what the subscriber growth could be," Turek said. Chegg's stock has gained 89% this year. The company reported 32% revenue growth in the second quarter, while subscribers increased by 45%."It's inevitable that more people are going to learn online, not less," CEO Dan Rosensweig told <a href="https://www.cnbc.com/video/2018/07/31/chegg-ceo-dan-rosensweig-earnings-beat-chgg-stock-price-education-tech-second-quarter-revenue-eps.html">CNBC</a> after the earnings results. <div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image on-image"><a title_source="Markets Insider" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/5ba3ace6959f3432008b607e-960/screen shot 2018-09-20 at 102102 am.png"><img src="https://static-ssl.businessinsider.com/image/5ba3ace6959f3432008b607e-949/screen shot 2018-09-20 at 102102 am.png" border="0" alt="Screen Shot 2018 09 20 at 10.21.02 AM" data-mce-source="Markets Insider" data-link="https://markets.businessinsider.com/stocks/chgg-stock" /></a><a href="https://markets.businessinsider.com/stocks/chgg-stock">Markets Insider</a></div></div></div><h2>Ring Central </h2><a href="https://markets.businessinsider.com/stocks/rng-stock">Ring Central</a>, with a market cap of $7 billion, provides companies with cloud-based telephony, messaging, and video conferencing. Its appeal to Turek stems from making these essential services cheaper for companies.In a traditional setup, companies need to invest in a so-called private branch exchange (PBX) that allows many staff members to share a single number. A PBX also routes callers to the appropriate extension and allows them to leave voice messages. "A company like Ring basically hosts all of your services for you so you don't have the capital expense, you don't have the IT staff on board, and you can very easily manage consumption of various communication," Turek said. He added that the company carved out a niche by marketing to small-to-medium-sized businesses, and is scaling up to larger corporations. This company is one of the largest holdings in the small-cap fund's portfolio and has surged 156% since it was first added in July 2017. <div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image on-image"><a title_source="Markets Insider" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/5ba3ad458905f2fc1e8b5407-960/screen shot 2018-09-20 at 102228 am.png"><img src="https://static-ssl.businessinsider.com/image/5ba3ad458905f2fc1e8b5407-947/screen shot 2018-09-20 at 102228 am.png" border="0" alt="Screen Shot 2018 09 20 at 10.22.28 AM" data-mce-source="Markets Insider" data-link="https://markets.businessinsider.com/stocks/rng-stock" /></a><a href="https://markets.businessinsider.com/stocks/rng-stock">Markets Insider</a></div></div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/woke-up-430-am-like-navy-seal-exercise-discipline-2018-7">I woke up at 4:30 a.m. for a week like a Navy SEAL</a></h3> <div> <iframe class="bijwplayerclass" data-player="jwplayer" src="https://content.jwplatform.com/players/kHGm95OI-CEZHWCBG.html" width="100%" height="100%" frameborder="0" scrolling="auto" style="margin:0px;" allowfullscreen=""></iframe><script>function receiveMessage(event){ console.log(event.data.fullscreen); Android.fullscreen(event.data.fullscreen); }window.addEventListener("message", receiveMessage, false);</script> </div> </div>

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Why are masks political?

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The brains behind a fund that's crushing the market this year share 3 stocks driving their outstanding gains

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America's small business owners hoped a $349 billion lifeline from Washington would pull them through the pandemic. Here's the inside story of how its launch spectacularly unraveled in 24 hours.

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