Up and up the markets go (again).
Only 25,000 infected (up 7,500 (42.8%) from Monday) and only 500 dead (up 140 (38.6%) from Monday) so far from the virus we're now completely ignoring though I'm kind of looking at what is now 216 infected outside of China vs 183 on Monday as only up 33 and that's just 18% outside of China. The good news this morning is China claims to be close to a treatment that seems to work for virus patients and we now have 988 people recovered – twice as many as have died so – progress!
As we also noted on Monday, Gilead (GILD) is making progress on a vaccine, as are others so we should be happy with the progress but now we're back to our original problem which is that stocks are just too darned expensive in the first place. The US PEG Ratio (Price/Earning divided by Growth) has NEVER been higher than it is now and that means stocks have never been more expensive relative to their actual growth:
That's in general, of coruse, our job is to look for stocks that are specifically good buys