November can be summed up with a sharp rise in the financial markets – the SAX index in Stockholm had its best November performance since 2002 and the Dow Jones in the US its best since 1987. A combination of positive news regarding a vaccine, Biden as a winner in the US elections and more economic stimulus pushed markets upwards. Trump eventually admitted that Biden won the election, although he said it was because of cheating. It seems like Biden will have a congress where the Senate is controlled by the Republicans and the House of Representatives by the Democrats – something that reduces the risk of a possible political left turn. Growth companies, that previously performed well, lost momentum against value companies which rose sharply as news came that a vaccine may come sooner than expected. The positive trend could continue for value companies but we also believe that growth companies, especially in tech, have more to give. Many of us have taken a crash course in the digital school and will continue to use digital tools also in a world after vaccination.