Do not underestimate the distorting effects of the government. When we read about trillions of dollars we find it very hard to comprehend what that means in ter

Do not underestimate the distorting effects of the government. When we read about trillions of dollars we find it very hard to comprehend what that means in terms of actual market impact and price discovery. Right now I would not bet against the markets in the next year. If we cannot find a resolution to coronavirus by early 2021, I would start getting worried about market contagion.