Things are getting crazy, not only in the markets but society at large with the realization of the massive impact the coronavirus is creating. So Michael and I decided to record an extra podcast this morning to share our thoughts on what’s going on and what it might mean going forward.
We discuss:
- Last night was surreal
- The Jaws-like moment in this
- Why even expectations for the worst can’t prepare you for the actual moment
- Canceling vacations
- Time to overreact
- Will schools and daycares close?
- Is the stock market going to close?
- Is this a 9/11-like moment for society?
- Getting used to working from home
- Using investments as an ATM during a crisis
- How many start-ups are going to go under?
- Is a recession the baseline expectation now?
- How much does the unemployment rate rise during a recession?
- Personal recessions
- How does this end?
- Why expectations matter so much right now
- How long does it take to breakeven from a bear market?
- Don’t look at your account right now
- Why personal finances matter more than your portfolio at a time like this
- How long will life be disrupted?
- Is this going to be a blip like 1987?
- The wild swings coming up in economic data
- Why panicking is never the right reaction
Listen here:
Stories mentioned:
- Creating an overreaction plan for the coronavirus
- Everything you need to know about recessions
- 12 charts you ought to see before the next recession
Books mentioned:
Charts mentioned:
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