Weekly Mixtape For April 5th, 2020

Week In Review Articles

The WSJ: Stocks Suffer Worst Quarter Since 2008

The WSJ: U.S. Employers Cut 701,000 Jobs in March

The WSJ: Record 6.6 Million Americans Sought Unemployment Benefits Last Week

The WSJ: U.S. Expects Coronavirus Peak in Some Cities Next Week as Global Toll Climbs

The WSJ:  Small Business Loan Program Makes Bumpy Start


Weekly Mixtape

Morgan Housel: Why Time Has Slowed “But I think the amount of surprise we’ve all felt in the last month means this is already a life-defining event. The consequences will be different, but I believe more than ever that Covid-19 will end up similar to the Great Depression, World War II, and September 11th in its ability to reshape the world, driven by a generation that will go on to view everything else in life through the lens of their experience. Too many critical assumptions of the future have already been upended for it to be any different.”

Morgan Housel: The Shock Cycle “Then you don’t see good news, because people are nervous to report optimism out of fear of looking oblivious. Good news can coexist with bad news, but when people are losing their jobs (or lives) you can appear reckless for discussing signs of progress.”

Pragmatic Capital: Pragmatic Thinking On Q1- 2020 “We’re all in uncharted territory. Our backtests didn’t include any global pandemics, so we’re flying blind here. Which I guess is apt since the origin of our current global pandemic seems to be…BATS. Yes, bats. I bet your favorite permabear’s blog didn’t predict that bats would bring down the global economy. “

The Reformed Broker: Will The Economy Go Back To Normal? “And as far as consumption in general, would it surprise you to see people saving more and spending less for awhile, considering the white-hot spotlight this crisis has shone on everyone’s personal finances? I understand that current interest rates on savings accounts are meant to discourage people from keeping larger amounts of money in cash, but the Europeans and Japanese certainly didn’t care during the last decade and we may find that we aren’t fazed either.”

Of Dollars And Data: The Craziest Month In Stock History “Congrats!  You did it.  You lived through the craziest month in stock market history.  Yes, March 2020 was crazier than any month in 1929, 1987, and, even, 2008.”

Frazier Rice: Funding The Pivot “Many of us daydream about a better tomorrow . . . better finances, more control of time, health and family happiness, a clearer path to professional or extracurricular achievement and establishing a legacy.  These things don’t come without costs and the risk of failure.  Therefore, you need plan.”

Nir Kaissar: I Manage Money for a Living. Here’s What I’m Telling My Clients “And that’s only half the battle. Those who manage to get out before another market drop must decide when to get back in, which is never clear. Market turns tend to be sudden. By the time it feels safe, the market is often sharply higher, leaving investors with regret about missing the bottom. Then comes the temptation to wait for the market to revisit its lows, an opportunity that may never come.”

The Irrelevant Investor: The Same, But Different “If you’ve been investing since the 90s, you have now seen your third big market downturn. If you started any time in the last ten years, you can now say you know what it feels like to be in a bear market, but only sort of.”

Enterprising Investor: “We Will Get Through This”: A Physician And Venture Capitalist On Coronavirus “Unfortunately, once a patient is intubated and on a ventilator, the death rate is very high, but we do not yet know why. Even those who survive stay in the ICU much longer than other critical patients. The ICU bed turnover for these patients is a lot longer, so it is not just the number of beds available, but also the length of stay that strains health care resources and personnel.”

All About Your Benjamins: Stressing The Healthcare System With Frank Sawyer

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