The markets going down IS “going my way”...but only to a point.
People losing their jobs and normal businesses failing is good for nobody, unless those jobs are gov jobs—and this is the opposite, because gov hacks are the only ones whose jobs are secure.
Really small business is very important, and a month of no sales, or 3 months of near nothing, can be fatal.
IMO the economic dislocation caused by public policy might be greater than that which would have resulted from just letting the virus run its course, and letting people make their own decisions about how to behave.
Of course, we won’t be able to make any intelligent comments until this has all blown over—but this sudden and massive dislocation is not something that the system can easily accommodate. The markets reflect that difficulty.
You could always say that we are just returning to some kind of “fair value”, but that’s a bs position, IMO.
I am an “everybody wins” guy, even though I have made a killing off these types of events. These things, in the medium term, are not good—and in the longer term, who knows now. For pensions, the markets mist rebound, or all hell will break loose.
I can’t but feel that this response is political. We have never done it for the flu. Yes I know about Italian deaths, but that’s bs too—we have no idea of the infection rate because there has been effectively no testing. For all we know millions may have had it, and a handful died.
This response is insane. Maybe I should have done some buying today.
Dow rising massively into the close.