In This Issue
It could be the greatest man-made disaster in modern times
You knew it was going to be a rough week when the Dow went up by 9.3% the previous Friday, and our All Ords fell by 9.5% on the following Monday. People are still trying to pick the bottom of this market but no analysis is going to help you here. Some people are saying they are buying blue chips on great yields, but they won’t be feeling so good about it when these companies are forced to cut dividends in the not too distant future.
There is not much point in talking about merits of individual companies right now, or the state of the markets, when there are more important issues at hand. If we get the big picture wrong, nothing else matters. Everything else is kaput
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The official line is that this chaos is all because of the coronavirus, but the reality is very different. Governments are failing to make the hard decisions. They want to do things that seem responsible and so they throw money at the problem, because they think this is what placates the electorate; but there are deeper issues at play.
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