Market is acting sickly right now. Didn’t hold the overnight retracement. Europe closes in a few minutes so we will see what happens.
I have no guess as to this afternoon. Could go either way.
I wonder if there is an underlying reason for the medical panic? For example, the Spanish flu came in three waves. The first wave was quite mild, then the second wave hit with tremendous impact, resulting in most of the fatalities. The third wave was a weaker reflection of the second wave.
I never read a good explanation of these waves, other than “a mutation” to the virus. But what if there was *another* reason?
For example, with the disease called Denque (den-gay) fever, the first time a person gets it they are miserable for about three weeks. But if they catch it a second time, it could become a hemorrhagic disease like Ebola. Very deadly.
Coronavirus might work in tandem with another version of itself, or even another disease like influenza, to create an especially deadly disease.
If this was known to the medical community, it might explain their overreaction.
Amazing how the herd mentality takes over the markets... everything is all about emotion right now... it seems devoid of thinkers.
I think the market was overdue for a correction. The virus may have been the trigger but it was bound to happen sooner rather than later.
It's cruel but markets and economies need corrections and recessions to burn out the inefficient. Sucks if you're one that gets caught up in it but a lot better than the alternative.
“Just how predictable was the current hit to the financial markets?”
The timing and amount of this correction was not predictable at all. Just saying that a downturn will occur sometime after a bubble is meaningless.
Black swans are rare and the Roman poet Juvenal made point in the second century. He didn’t say they didn’t exist, just seeing one in Europe would be rare.
By definition then, Black Swan events are rare, indeed.
I always thought what happened in 2007 was fishy. I don’t believe we were nearly as close to Armageddon as everyone was saying. More likely it was a set-up by the democrats to get Obama elected. Worked like a charm didn’t it?
