Markets were celebrating a DONE DEAL. Stocks headed much higher, and the largest-ever fiscal and monetary financial aid package was underway.
It was already signed and sealed, but the presidential hopeful, Bernie Sanders, wanted to make sure he made a splash and also protected the interest of his followers.
Ultimately, this bill GOT passed. The important issue of the day is whether or not the curve is flattening and this unfortunate ordeal with Covid-19 is starting to appear in our rearview mirror.
These have been a ROUGH few weeks for everyone, from the billions of people directly and indirectly impacted, to people under quarantine and confinement, as well as those who lost loved ones or are in high-level risk groups. I am most saddened for fathers and mothers, who are helpless and can’t provide for their children and for individuals, who were left stranded!
The Covid-19 virus ISN’T going away; it’s going to remain with us for a very long time, since the vaccine won’t be ready on a mass scale for another 2-3 years.
Some countries will impose travel restrictions, while others, which depend on tourism, will use protective measures and with reluctance be forced to open their region, perhaps earlier than they want to.
This type of event teaches us many important lessons; chief among them is that MONEY equals security. It also equals choice and comfort.
It’s extremely difficult to live a fulfilled life, a pleasant existence, when you constantly worry about having enough to pay the bills.
Get inspired by this crisis to become more independent. I will go to my grave believing that a person is the sum of his habitual thoughts of self-worth; the way you perceive your ideal life is what dictates how to interact and how your skills are displayed to the world. Ultimately, it impacts what the marketplace deems your talents are worth.
I put enormous EMPHASIS on thinking about what I want TO THINK, putting it into action through careful planning and analyzing any setbacks.
President Trump’s state of mind is clear. He wants everyone to dial-in on Easter as an arbitrary date for opening up the country again for business.
Many things still need to occur in order to allow for a safe process to return to normalcy. I actually like the idea of setting a target date, but this one seems EXTREMELY CLOSE and challenging to implement.
Without a doubt, the stimulus plans, both monetary and fiscal, have worked to change the trajectory for stocks.
It appears that we’ve stopped the bleeding – which was CRITICAL – but the wound is definitely still open. What we’re going to need to see is how quickly workers go back to their jobs, because the DEFICITS which these bills and the Federal Reserve’s monetization of debt have both created, will be GARGANTUAN.
Personally, I’ve begun buying stocks again.
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To me, companies whose share prices have fallen by 30%-50% and are not directly impacted by the lingering damages that the virus will inflict, and which I know well and are strong businesses, are good opportunities.
There’s no way to know if this is the bottom of this artificial bear market or not, but investors don’t need to think in line with TRADERS. Instead, they make decisions, based on future cash flows a company will generate. The truth is that several great companies will not make any less in the future, because of the Covid-19, but they’re half as expensive as a month ago.
That’s the right way of looking at it.
This dollar index rally is the story of our times – it must be stopped, since it pushes liquidity to the edge.
This is the chart that we will live or die by.
These stimulus packages, which measure in the trillions, are OUTRAGEOUS enough as they are – we don’t need more problems.
In the next few days, we will see if the measures taken thus far are sufficient. If they’re not, I’m going to turn bearish, add hedges to the portfolio and look at shorting certain stocks.
If the worst is behind us, this is the birth of a new bull market and there are MANY great ventures to look at.
Research Partner, PortfolioWealthGlobal.com
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