Via Morgan Stanley:
Short-Term Pain for Long-Term Gain
Late last year, I met with the pension fund for a physicians’ association in the western United States. I’ve been thinking a lot about that meeting recently, especially when some aspect of the market, or working from home, is particularly frustrating. However disrupted things may seem at the moment, they pale in comparison to what those in medicine, services and other fields at the front line of the response to the coronavirus are going through. So, this seems like a good time to emphasize a key part of our view: What’s best for fighting the pandemic, the health of the economy, and the market may be the same thing – making sure the reopening of the economy is done right.
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