Lucerne Investment Partners note:
This is a truly frightening pandemic with significant ramifications which much of the developed world is unlikely to cope with well.
The reality is ICUs [intensive care units] are likely to be overrun around the world and people will increasingly seek to avoid social contact and hide at home in order to avoid contracting the deadly virus.
One bubble after another is at risk of popping, as the fake wealth and artificial economy of the last few years explodes in the face of a devastating global recession.
…[sharemarkaets] crashing, delusional housing prices likely to follow.
Unlimited QE is likely but won’t help alter the destruction from the pandemic.
These are truly dangerous times for all investors, but particularly for those holding large amounts of overvalued equity and property assets at fake economy prices.
And there you have it.