Monday Market Workshop – Portfolio Repair – Part 1

The virus rages on.

US infections have jumped from 85,996 on Friday, when we had just passed China, to 143,055 as of 6:11 this morning and that's up 66% in two days.  Globally, there are 735,650 infections with 34,686 deaths and 154,673 recoveries so, to date, 18.3% of the outcomes are – DEATH!!!  No, I don't think it's funny – I want to emphasize that so people, HOPEFULLY, will stop risking their lives to go on a beer run or whatever other silly thing you do that you don't have to do – this is serious people and it remains serious.

On the other hand, as I have pointed out before, 7,708 people die every day in America from all sorts of things but mainly cancer or heart conditions so 2,500 dead (so far) in the US is just another manic Monday morning as far as it's effect on the economy.  What matters is how soon we can get things under control as they are currently still clearly OUT of control as our hospitals are being overwhelmed (leading to more deaths) and supplies are running short.

Trump is right, this is like a war but it's a war we are clearly losing despite Trump telling us:

  • Jan 22nd - “We have it totally under control. … It’s going to be just fine
  • Jan 30th – "We think we have it very well under control. We have very little problem in this country at this moment — five. And those people are all recuperating successfully. But we’re working very closely with China and other countries, and we think it’s going to have a very good ending for it. So that I can assure you.” 
  • Feb 24th – "The Coronavirus is very much under control in the USA. … Stock market starting to look very good to me."
  • Feb 26th - “And again, when you have 15 people, and the 15 within a couple of days is going to be down to close to zero, that's a pretty good job we've done."
  • Feb 28th - “It’s going to disappear. One day, it’s like a miracle, it will disappear.”
  • March 2nd - "We had a great meeting today with a lot of the great companies


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