It has been almost one month since my last panic journal post and a lot has happened in between. The stock market has roared back like crazy and everyone seems to ask themselves when they look at YTD charts and compare it with unemployment numbers and GDP “growth”: What the hell is going on ? Is this the next “Bubble” ? Are people crazy ?
Of course I can’t explain what is going on either but at least from my perspective three main topics stand out that I did not expect to such an extend and seem to be fundamentally positive surprises compared to a worst case scenario:
- Central banks and Governments have acted more quickly and more radical than anyone thought
- The “Dance” after the “Hammer” so far looks a lot easier that envisaged
- A vaccine might come earlier than initially expected