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Stefan Cangea

Stefan Cangea, CFA, has over 15 years of direct investing and investment banking experience across Emerging and Developed Markets. He works in New York as Investment Director for an Ultra High Net Worth Family Office based in the Middle East.

Stefan graduated cum laude from Babson College, with concentrations in finance and entrepreneurship.

He is the Founder and President of NYSB, a 2,000+ member surfing organization and an active member of the Bronx Science Alumni Organization.

October 20, 2020

Significant skepticism exists surrounding an expected COVID-19 vaccine

From Stefan Cangea
According to a 16,000 patient survey conducted by Medisafe, a medication management company, 65% of participants will not get the vaccine immediately as it becomes available. They will wait until their doctor approves it or until enough people get the vaccine to know it works. Only 21% of people will take the vaccine as soon as it is available, while 9% admit they will never trust a COVID-19 vaccine.
August 10, 2020 / Travel

Airbnb bookings point to a strong rebound in vacationing

From Stefan Cangea
Airbnb, which now offers over six million places to stay in the world, is showing a strong rebound in the United States. According to Airbnb accommodation booking data from Airbtics, prior to the coronavirus pandemic the average US state was experiencing a strong weekly booking of 116% YoY.
July 8, 2020 / Culture

Mobile news app consumption patterns and how they changed during 2020

From Stefan Cangea
With the COVID-19 pandemic and persistent social injustices Americans have been consuming more news. Prior to COVID-19, mobile app usage of traditional news providers was in a state of decline and only worsening. From last July through January of this year Fox News and CNN average app usage was down 18.6% and 2.5% YoY, respectively. For the same period, The New York Times averaged growth of 1.3%, however was trending significantly negative.
June 23, 2020 / Economy

COVID-19 is having a disparate effect across the restaurant industry.

From Stefan Cangea
As a result of COVID-19, by mid-March restaurants in most parts of the United States began suspending operations. According to research from 1010data, year-over-year sales in fine-dining, casual-dining and fast-casual establishments quickly plummeted 91%, 77% and 49%, respectively.
June 9, 2020

As restaurants reopen, Americans are ready to dine

From Stefan Cangea
After being completely shut down for months, restaurants are quickly recovering. According to reservation data from OpenTable as of June 3rd, seated dining volume in states such as Rhode Island have already reached 90% of last year’s daily levels. On average it is taking states 16 days to reach 25% of last year’s daily reservation levels.
May 29, 2020 / Business

With high inventory levels, US railroad freight activity has barely budged from the bottom

From Stefan Cangea
According to data provided by the Association of American Railroads (AAR), total carloads and intermodal traffic in the United States is down 22.0% YoY for the week ending May 16. This represents only a marginal improvement from the 23.3% YoY decline for the week ending April 18, the low point for the year.
May 22, 2020 / Business

Advertising industry at risk as ad spending plummets

From Stefan Cangea
With the US economy on pause, many companies are struggling to remain profitable. As we have seen in prior crises, advertising budgets tend to be the first expenses to be cut. This leads to the inevitable layoffs at media companies, advertising agencies, and internally at companies.
May 20, 2020 / Culture

Remittance app usage spikes as people struggle to pay bills during pandemic

From Stefan Cangea
Global downloads of money remittance apps spiked in the second quarter from a 0.9% YoY decrease in the week ending March 22nd to a 37.9% increase last week. This increase is significantly higher than seen at any other period in the dataset. The data was provided by Apptopia which tracks downloads and usage across millions of mobile phone applications. This inflection point clearly shows a flood of new users looking for a way to quickly send or receive money.
May 18, 2020 / Business

Is government money really having an impact? Only 14.4% of businesses have received PPP loans.

From Stefan Cangea
The point of the Paycheck Protection Program (PPP) was to prevent businesses from having to lay off employees, adding to the country's already startlingly high unemployment. Writing the legislation was executed quickly and offered hope that the economy could survive the pandemic. Unfortunately, the execution continues to be lackluster.
May 15, 2020 / Culture

Data shows Americans are beginning to adjust to COVID life

From Stefan Cangea
Based on figures from 1010Data, a leading provider of consumer transaction data, we notice that Americans have begun venturing outside. Some have even returned to discretionary shopping. As of mid-April, while state governments were still strongly recommending citizens to shelter-in-place, consumer activity had picked up noticeably. Visitors to big-box stores rose from a 51.2% YoY increase on April 18th to an 80.4% YoY increase on April 30th.
May 7, 2020 / Travel

Despite the economic shutdown, US consumers are hitting the road again

From Stefan Cangea
Based on foot traffic data from Advan Research, the last four weeks have shown a resurgence in visits to gas stations. It appears that people have quarantine fatigue after being locked in their homes for nearly two months. Visits to gas stations reached a national low during the week ending April 5th. According to figures from Advan, traffic was down 38.1% from the yearly average and down 36.5% from the first week of April 2019.
May 4, 2020 / Economy

China exports to the United States rise 63% vs March low. Recovery is on the way.

From Stefan Cangea

China container exports to the United States rose 63.1% in April in terms of gross tonnage versus a March low. This represents a significant jump compared to a 22.3% month-over-month rise in April 2019.

As China’s largest trading partner, the United States accounts for 16.8% of all exports. April’s total tonnage of 4.0 million tons shipped to the United States represents a 16.2% annual decline. This is a significant turnaround relative to the 37.2% annual decline in March 2020.

Figures from a leading customs data provider, Descartes Datamyne, point to a rebound in China that is led by shipments of home goods, machinery, plastic goods, iron goods, and toys. The recovery, in fact, is quite broad as 73 of all 99 cargo categories (HS 2) experienced an increase in tonnage, even when adjusted for seasonality.

Additionally, on average, containerships travel 0.26% empty. In March 2020, empty containers nearly quadrupled to 0.94%. As a sign of balance and an increase in shipping demand, empty container rates have recovered to 0.40% in April.