BigNick
Thinks s/he gets paid by the post
We're normally ~45% in equities, so the ~35% market downturn put our total net worth down about 20% in February and March. But we've regained half of that in April. I can't believe that the level of worldwide depression that we are likely to see is fully priced in at that level. (Maybe I'm being pessimistic because I live on an island in the Mediterranean that gets 45% of its GDP from tourism and will have visitor numbers reduced by at least 95% this summer. We are looking at a catastrophe for employment.)
I've been pretty much a "buy and hold forever" investor for more or less 30 years, with only a few sales of equities to get that percentage slowly down (I like "100 minus your age" as a heuristic). But I can't help feeling that there is only downside from here, at least in terms of daily economics and consumer spending worldwide. Even if a vaccine for SARS-CoV-2 is announce tomorrow, I can't see us getting back to January 2020 levels for a long time.
Or are the markets, collectively, still smarter than me? To be fair, they have a pretty solid track record there...
I've been pretty much a "buy and hold forever" investor for more or less 30 years, with only a few sales of equities to get that percentage slowly down (I like "100 minus your age" as a heuristic). But I can't help feeling that there is only downside from here, at least in terms of daily economics and consumer spending worldwide. Even if a vaccine for SARS-CoV-2 is announce tomorrow, I can't see us getting back to January 2020 levels for a long time.
Or are the markets, collectively, still smarter than me? To be fair, they have a pretty solid track record there...