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"In one of his famous “memos,” which was released on March 31, Howard Marks (Trades, Portfolio), co-chairman of multibillion-dollar asset management firm Oaktree Capital, shared his updated thoughts on the state of the market currently as the coronavirus pandemic and oil price war continue on."
Thanks for this thoughtful post. The case for a V shaped recovery seems to be lacking. The evidence coming out of China and the need for extensive ongoing social distancing in the absence of a widely dispersed vaccine don't support it. Like him, I find myself leaning somewhat into the "worrier" camp. But, its too soon for me to have a good sense for how far into that camp I might descend as I am still working to gather and properly categorize a useful set of puzzle pieces. Hopefully, I will be able to assemble a meaningful picture before too many weeks have passed. (I do have the sense that something akin to the massive infrastructure program proposed by Trump will be needed, both to provide employment and to provide a psychological boost to the country.)
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