auckland, the largest city of 5 million people, roughly a third of the nation's population, will dent in sumere and be disruptive -- dent consumer confidence and be disruptive. it was initially three days and has been extended to august 26. the level 3 lockdown is basically a stay-at-home order unless you have to be out. it also means consumer facing businesses like cafÉs, restaurants, bars are shut. the rest of the nation is under a level to order, which means social distancing is being brought back. zealandustralia and new managing editor johnson. next, we speak to a portfolio manager whose fund is beating 96% of its peers this year. daniel chersky joins us to talk about his strategy, the opportunities he sees in australia's small and mid-caps. this is bloomberg. ♪ shery: let's take a look at markets across asia. ,iwi stocks gaining grounds .6%, the most in a week. we had the prime minister delaying the general election to october 17. we had a resurgence of coronavirus infection. the same thing happening in korea, the highest number of infections since march. we have seen the kospi snap the

. >> president acted sumer, would've saved one week earlier would've saved 30 some thousand lives. i hope they have learned the lesson. >> we saw him continue to politicize a pandemic, and to show in his appalling lack of inspect for american people. >> is this a wise political strategy? >> it's dreadful, raymond. it's one of those things, you look at what kamala harris came out and said, yesterday about the pandemic. suddenly, she is claiming the president for lockdown, blaming the president that the schools aren't reopening, blaming this president for the state of the economy while just a month, week, day ago they were talking about how we needed another lockdown, and how we needed to keep schools closed, all of the stuff that's coming out of the biden campaign of the moment is utterly disastrous. every country in the world that has had its scientific establishment come out and say how they had acted days or weeks sooner, you saw this big story come out from the u.k. at the same thing there. the scientific advice was therefore the president. he took it, he actually went further t

what we are not all just in sumer's of content we are not just readers but we are also inclined to culturally think of ourselves as creators. think of ourselves as people who have or want to have ownership over stories to in some ways harkens back to the traditions as well. but with the added disembodiment of the internet itself. this hunger to create, to be involved, to have ownership in our stories had made us all the more resistant to perhaps orthodox ways are traditionally orthodox ways of experiencing, severing doctrine. think as well our particular capitalist moments bestowed in personal branding made us cognizant of the model the training of what app in my using to meditate? what purchase of my making and my going to a soul cycle class a sweet clean salad. think the wellness culture is perhaps the biggest, most obvious example of this. but i think the way in which our conspicuous and perhaps less conspicuous consumption is seen to define us in the algorithms where they're getting narrower and narrower contribute to this kind of hyper atomized individualization. >> so i want to press yo

e-commerce and sumer market purchases plugging the gap.e already than lower expectations and felt 8% in the last year. seeing anid he's improvement. >> two things consumers want conditions isese meeting up with the family and friends, and going to a bar. motivation was going to endure. as conditions improved, we must go right back in. what we are doing in the meantime is creating the experiences at home. one of the trends we have seen is cooking from scratch and baking. so we moved right into that space on social media and digital engagements. we have seen a very good response. walker, because we have a program called kitchen drinks, where online, we look at what ingredients you have in your fridge at home and design a cocktail you can make it home. you can get bar quality cocktails at home. consumption, they have not gone up. we have seen per capita consumption come down for a long time. we stand very much for drinking in moderation and drinking sensibly. you have seen the shift from out of home to in-home, but in a market like the u.k.,

biggest thing is that the revenue growth rate, the trailing five-year revenue growth rate hasn't been sumerest thing was the mix has shifted more towards services so the mix has shifted towards a more higher multiple business, even though the growth rate has not been that good. second thing i would probably say, if you look at where the stock is today, most of the buy side is probably expecting around $17 in earnings, and sell is around $16. apple is trading at 30 times buy side estimates so not a 35 or 38 times it looks on a trailing order consensus basis. >> tom, not to knock the analysts like you guys which do very good work on valuation, but some people are just scratching their heads every single day, a new, krish is raising his target, you raised your target recently and under review to raise it higher. are the fundamentals changing that quickly as the price targets continue to run or are you chasing the price action >> sure, so feel free to knock the analyst. it's important to question analysts i appreciate the questions when i think about apple, i think it's a confluence of thre fac