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No one is unaffected by the impact of COVID-19. If you have managed to avoid the virus so far, you are in for a shock if you haven’t checked your superannuation or investment account.
It has been the most brutal month we’ve seen. To put it into perspective, the average ‘bear market’ (which means a drop off of 20% or more from the peak of the market) takes 340 days.
This has occurred in 28 days.
No one saw COVID-19 coming, and the financial markets were in the same boat. But it is not all doom and gloom from a super fund balance perspective.
Yesterday I was fortunate to have a detailed chat with Jason Todd, head of investment strategy at Macquarie Bank. Jason gave some great insights on;
- The causes of the financial downturn
- What needs to happen for things to improve
- The likely time frame of a recovery
- How this will affect interest rates
I strongly recommend you take some time out whilst having a coffee or a glass of wine before dinner and listen, it provided myself & our team some positivity in this very dark time.
Full Audio: 26 minutes