Another week begins and the bad news just keeps coming. Schools are now closed beyond March Break, new travel restrictions have been announced, malls are ghost towns and grocery store shelves have been emptied of anything worth eating (at my Loblaws even the Captain Highliner frozen fish sticks -the orange ones- were sold out!) Understandably it’s hard to see any good news in all of this. Yet, like all crises before Covid-19 the worse the news gets, the more certain we can be that we are that much closer to the end.
We are of the view that the impact to the world economy will be less than the headlines suggest, and that the massive moves in the stock markets will be shorter-term than longer. So unless you plan on spending all your money this week, it’s best to just ignore the whole thing and wait it out. In the meantime, have a look at this graph to see the big picture. Source:Fidelity Investments.
The Corona virus will be stopped, we will get through this and the best thing we can do in the meantime is be reminded that it’s always darkest before dawn. I leave you with a quote that has meaning to me and I hope it does for you as well.
Call me anytime.