We’ve been covering the spread of the coronavirus so intently over the past 30 days that we’d understand if you might have forgotten that, actually, we usually focus on many other topics on this website than global pandemics.
One topic we’ve tracked closely for years is the highly unsustainable levels of financial asset prices. We’ve been warning our readers for a long time that the markets are overdue for a painful correction. Our podcast with analyst Sven Henrick earlier this week gave great detail on the many reasons why.
And the coronavirus, with the havoc it’s wreaking on global trade, may just be proving to be the “black swan” pin that pops the market’s bubble. The sharp swoon we’ve seen over the past week has been historic: it’s the fastest 10%+ drop in the S&P 500’s history.
In the short video below, we check in with the lead partners of New Harbor Financial, Peak Prosperity's endorsed financial advisor, to get their seasoned take on the current market meltdown:
Anyone interested in scheduling a free consultation and portfolio review with Mike and John can do so by clicking here.
And if you’re one of the many readers brand new to Peak Prosperity over the past few weeks, we strongly urge you get your financial situation in order in parallel with your physical coronavirus preparations.
We recommend you do so in partnership with a professional financial advisor who understands the macro risks to the market that we discuss on this website. If you’ve already got one, great.
But if not, consider talking to the team at New Harbor. We’ve set up this ‘free consultation’ relationship with them to help folks exactly like you.
You can only sell the tulips so long anyway. This may be the wake up call - that they are just tulips. but to be honest, id buy a tulip for 1$ if i could sell it for 2$. we have created that mind set. at some point, someone will say hey - this stuff grows on trees, you can grow one for 25cents… ( real valuation )
I asked this a while ago and never saw a response. I’m sure you’re buried and I totally understand. Why isn’t polio a valid comparison. Similar r naught. Maybe a lower death rate but use paralyzed instead. No one has made this comparison that I see. WaY after Spanish flu when indoor plumbing was actually a thing… seems more reasonable.
Iran is under very stringent economic sanctions from the U.S. They are having difficulty selling their oil and buying goods. Their banking has been shut out of the international system. As a result, they are lacking medicine and food, which may be contributing to their higher death rates.
A relative who works for Morgan Stanley posted on Feb 29 “Stock trading has been so extreme that Nasdaq has literally run out of numbers before the market close every day this week.” My response to him was this seemed like a good reason for a financial transaction tax to trim our deficit!
