My investment thesis is unchanged that current prices are artificially elevated and gravity will have its day; my portfolio is cash rich in anticipation. However, this morning with futures up again, there were moments of FOMO …. YIKES!
Dr Duy posted his view this morning and it helped put some rationality and gravity in my thinking. It is totally worth the read …
His take-away puts the risk exactly where it belongs – the US government (that’s HIGH risk imho), quote:
Bottom Line: On a certain level this shouldn’t be that hard, at least from a macro-policy perspective. Keep pumping money into the economy to support incomes as you build out the public health infrastructure to contain the virus while gradually ramping back up the economy. We just can’t fully commit to that program. That lack of commitment leaves us with a few more downside risks than I would like.