The March 16 edition of Yahoo News 360, linked below, offers readers a broad array of views regarding vaccine passports, which are the subject of a rapidly changing, critically important discussion.
See “Vaccine passports: The promise and pitfalls,” https://news.yahoo.com/vaccine-passports-the-promise-and-pitfalls-183725401.html.
We don’t know how the debate about vaccine passports will unwind, but we do see forces growing in favor of a vaccine passport standard. The implications for business and markets are large, and many are obvious. Large economic entities will set the standard. For example, if US or EU decides to require a vaccine passport for admission to either geographical location, the rest of the world will have to follow. If some large states institute a vaccine passport requirement, others will be pressured to follow.
What would a vaccine passport look like? What about fraudulent use? What penalties and other measures would be put in place to deter the inevitable perps, trolls, and purveyors of fakery?
Cumberland remains fully invested. We continue to overweight the broadly defined healthcare sector.
I already carry my vaccination record and post-vax antibodies test when I travel anywhere. Lots more on this topic lies ahead as the new vaccine passport issue gets added to the COVID chapter of world history.
David R. Kotok
Chairman of the Board & Chief Investment Officer
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