Last December, the
New York Times published an op-ed titled “The People Who Actually Had a Pretty Great Year”, discussing the Americans who haven’t really been impacted by the economic downturn, and have even seen their bank balances rise. It’s food for thought on the impact of Covid-19 on the United States. Has it really been that painless for an entire section of the population?
First of all, it’s worth remembering that whenever a new recession hits, economists go back to singing their ABCs when discussing the future shape of the recovery. The Covid-19 crisis in the United States is no exception. As always, the most optimistic have been dreaming (and still are) of a V-shaped recovery, bouncing back just as quickly as it dropped. Others fear that repeated lockdowns will cause a W-shaped recovery, rising only to fall again when new restrictions are imposed.
10 Tuesday AM Reads
My Two-for-Tuesday morning
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Investment Advice From Psychologist and Poker Star Maria Konnikova: Poker, much like investing, is a balance between skill and chance, says Maria Konnikova, a writer who has parlayed her doctorate in psychology into a career chronicling human behavior and decision making. The big takeaway: Focus on the decision-making process, rather than dwelling on losses or missed opportunities. (Barron’s)
see also
My 2020 Investing Lessons You’re never as dumb as you feel during a bear market nor as smart as you feel during a bull market. Unfortunately, sometimes it takes a nasty bear to remind investors of this fact7. (A Wealth of Common Sense)