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Nobody knew how this would play out Yes they did, because most of the people we're talking about had real time examples going on while they were denying there
by lemming 7y ago
Nobody knew how this would play out
Yes they did, because most of the people we're talking about had real time examples going on while they were denying there was a problem. In Italy, they could have looked at what happened in China, but chose not to. You could perhaps forgive that, possibly they thought that population density, smoking rates or other demographics made a huge difference. But Spain has no excuse at all because they literally had an example of an (for all intents an purposes) identical country right on their doorstep and still chose to ignore it. My wife is Spanish so I followed a lot of the reactions there and they were flat out ridiculous. Similarly with the e.g. the US - did they really think the virus was going to act differently there than in other parts of the world?
- WalterBright 7y ago> Yes they did If it was all so obvious, the stock market would have dumped weeks before it did. Did you sell in early February? Did you take out shorts on the market? Why not?
- lemming 7y agoI'm a passive investor, I don't try to make money by playing the market. But yes, in mid-Feb I moved all my investments from growth funds into conservative ones, and avoided a major haircut.
- WalterBright 7y agoCongratulations, you are smarter than I am and smarter than Wall Street. But my point still stands - if it was obvious to people, the market would have dumped earlier than mid-Feb.
- lemming 7y agoI don't claim to be smarter than anyone, I'm just some guy. I just think the "no-one could have seen this coming" is obviously bogus when it was literally occurring at the time, just in different regions.