Animal Spirits Emergency Podcast: Preparing for a Recession

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

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