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I get the pandemic being priced in now, but surely that implies a pas point in time in the past when the pricing in happened? Ie at some point or over some peri

I get the pandemic being priced in now, but surely that implies a pas point in time in the past when the pricing in happened? Ie at some point or over some period, somebody looks at the looming global pandemic and goes "fuck! Sell everything!"

ls612 6y ago
Yeah that happened in March when markets fell 30% or more in a couple weeks