Why I Completely Sold Off All My Investments This Week
“I don’t know — and perhaps with a bias — I don’t believe anybody knows what the market is going to do tomorrow.” — Warren Buffet
When the Oracle of Omaha says he has no idea what’s going to happen with the stock market, people should listen.
As of the time of this writing, the DOW Jones is just under 24,000. Back in February, it hit its all-time record high of 29,551.
A few days later, the NASDAQ has had a similar experience, if not more pronounced. It hit its all-time record high of 9,838 on February 19.
Then came the coronavirus, and shit got real. The markets looked to be entering into possibly one of the biggest bear markets in history. And indeed, global stock markets collectively crashed 25% in March.
But the weird thing — which I’m sure you already know — is they’ve been recovering. Hell, the charts read like they’ll be going back to the record highs within a month or two.
That shouldn’t be happening.
Longest bull run in history
I already wrote extensively about how the biggest potential stock market crash in history has been looming over us.
Trump’s Tax Cuts Might Lead to the Most Disastrous Stock Market Crash Ever
We’re long overdue for a stock market crash — possibly the worst in history
I wrote that on January 12th. And I still firmly stand by what I wrote there.
The thing is, we’ve entered into a global pandemic since then. And yet the markets are almost at the exact same number?
How many countries are on lockdown right now?
The last time in history we had an unemployment rate anywhere near that was pre-WWII.
Yet, the stocks rise higher.