was about a year ago. It opened 2019 at $62.41, hit $66.50 at mid-month and closed Friday at $66 (3/13/2020). For all the howling, we haven't even lost all of the crazy gains from 2019.
I'm very concerned about the consequences of both pandemics (my college has closed for the nonce and we're negotiating a patched pedagogy of nearly-online presentation of courses that were designed with high amounts of face-to-face contact and interaction) and mismanagement of pandemics, and mightily irked by the diminution of my portfolio's value. I worry a good deal about hourly workers who have precious little margin in their lives and elderly folks who might be forced into isolation. That said, much of the press coverage - in particular the photos of anguished traders collapsing - would have you believe that the gains of a decade have evaporated.
The rockiest stretch might yet be ahead (the market futures are limit-down even after the Fed intervention), but a degree of perspective might help folks better manage the decisions they've got to make.
Just thinking, and reading,
David
