Dow Drops Almost 11,000(!) Points in < 6 Weeks
If — If — the current stock market rally holds, the six weeks just transpired will qualify as history’s shortest — and most harrowing — bear market.
Think, “bungee jump,” but with billions of people around the world partaking simultaneously.
From its start on February 12, to its conclusion(?) on March 23, the Dow dropped a staggering 11,000(!) points, or 37%.
Unfortunately, the more apt analogy may be an economic stroke or heart attack.
Only once the patient — the global economy — is truly starting to convalesce will it be possible to take stock of the damage.
To expedite that, my suggestion is to emulate Stanford University (disclosure: my alma mater), and set up local Recovery Teams or Task Forces to speed the transition back to full economic health, and help mitigate the inevitable suffering.
Long-term, these same groups can transition to properly preparing for the next one.
Task #1: protecting the first responders in a pandemic — healthcare workers.