Since our last investment update video, governments and central banks around the world have acted precisely how we had suggested. They have put forward very sizeable monetary and fiscal support measures and stated repeatedly that they will and can ‘do whatever it takes’ and that there is ‘no limit’ in size as to what they may do.
In the attached video investment update I discuss why, under these changed circumstances, capital markets a) need to be ignored by anybody searching for intrinsic information about the future from recent valuation moves and b) why, with the measures central banks and governments have adopted, under a quasi state?of?emergency/wartime economic and financial regime, it is not conceivable that dysfunctional markets will be able to deteriorate towards a global financial crisis, on top of the Corona health crisis.
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