In today's podcast we look at a template for living with "Never Ending Pandemic Concerns" which is the prediction of one strategist. If we adopt the New York mantra life may become a series of lock down stages depending on infection parameters as is happening in Victoria and Australia already and the economic damage that ensues will depend upon the settings. For instance New York will close schools again if positive COVID testing rises above 3%. We look at market risks today, the recovery in travel stocks, Unibail-Rodamco which hasn't been going too well this week and a couple of interesting stocks that are changing trend. We also talk about the portfolio including more holdings in smaller sizes as our funds under management approach $100m.