One Year Later: I began my COVID journal on March 24th. The intent was to write down things that were catching my attention due to the pandemic. For my entries prior to March 24th, I wrote about what I recalled.
“February 16 I rented a car for my Arizona trip and contacted Bill & Mikki and Susan to coordinate visits when I get to Phoenix. February 19, I had a phone meeting with my financial advisor, and we listed the coronavirus as something affecting investments and to keep an eye on, just like upcoming elections were. Not really a critical topic.”
Interestingly, it turned out that we were right, only not in the way we imagined. The virus turned out to be a massively critical topic, but inexplicably has not negatively impacted my investments. Somehow, somehow, my stocks have increased in value despite the worldwide chaos. I do believe the full economic impact of COVID-19 is yet to be felt, however. At some point, all the repercussions must be felt. Right? I mean, small businesses are devastated, people are still out of work, how can it not be reflected in stock value eventually?
11 thoughts on “OYL February 19”
We’ve been lucky with our investments as well, Crystal. Like you, we had talked to our financial adviser about the coming pandemic and our concerns.
On another note, or daffodils are about to burst into bloom. And a number of wildflowers are on the edge. The hillsides are full of future shooting stars. I’m expecting them in another week or two.
Tony told us today how very, very much he is appreciating the work you are doing on his behalf. As are we. Thank you ever so much. –Curt
The daffodils will be just the thing. I can hardly wait till I have those lovely blossoms of my own to admire. It should be soon. It was warm again today and there is less and less snow. Since I am lucky enough to have a pension, I’m still considering my investments a long term project, so I can take on more risk for now. That helps ease the anxiety. But yeah, investments are generally pretty good so far.
I’m glad to help Tony. It’s midterms right now and I’ve been so swamped and I owe Tony a message but I’ve just been running around like crazy. Spent two days living at a friend’s house because she was in the hospital and I wanted to be around when she got home in case she needed anything. Just got home yesterday. But anyhoo… I will get back to him as soon as I can. I did tell him this, so I hope he knows I haven’t forgotten him. 🙂
Tony is appreciative of whatever you can do, Crystal, whenever you do it. Believe me.
A good question
I thought so. I am convinced the stock market will correct. But the big question is when and how much and how fast. Ok, that’s three big questions. In addition to all the other questions, like importantly: how are we going to fix this and get our small business owners back in business?
Yeah, the stock market is doing well for a few simple reasons . . . The government is giving companies money; they, in turn, use it to buy back their stock (thus pushing the prices higher). Also, because rates are artificially low, companies are borrowing money to buy back even more of their own stocks. Also, the Fed is basically guaranteeing they will do anything to shore up the market.
In turn, since people have a fear of missing out (FOMO), and since it appears there’s little risk, many people are also dumping money into the market and driving up (paper) profits.
The key word is “appears”. It’s an artificial market, totally divorced from reality, and at some point, it will come crashing down. The question is . . . when?
It could be a good long while and, meanwhile, FOMO drives everything . . . until it doesn’t.
That’s an oversimplified overview, but pretty close to what’s happening (minus a few nuances that are only understood by people meeting in opulent boardrooms). All I know for sure is that the small fish (like in the 2009-2010 crash) will be left holding the (now empty) bag.
As I said to Derrick, there will be a correction at some point. I know you are right and the small fry will take it in the shorts while the wealthy will barely be impacted – as usual. One of my favourite quotes from one of my favourite movies (The Emperor’s New Groove) is “You should have thought of THAT before you became peasants!!” I could easily see one of my country’s leaders being so clueless as to say this to the public.
. . . they’ve been saying it since the 80s . . . no one cares because they are too busy listening to their party’s party line. “Leaders” have eschewed any responsibility by always blaming the “other guys” . . . the people buy it, and so it continues.
. . . yes, I’m drifting into the cynical realm . . .
You are so right, Crystal, the economic impact of Covid is still hurtling towards us. I try not to even think of it, as I’m not sure we can even start to imagine what it’s going to look like.
On a different note, those hellebores of you are gorgeous. I wonder when they will make their appearance this year.
Weren’t they gorgeous?! Now that the snow has melted, I went out to take a look. They are up, were apparently up when it snowed, and got crushed. So…they are a few inches above ground and sort of distorted and bent, but determined to grow tall and open their blossoms soon. Is there a metaphor in that story somewhere….?
Perhaps there is, Crystal. May the tenacity of those flowers teach us that nothing should keep us down either.