There was only one real story in the world news this week – coronavirus. I am not an expert of infectious diseases, but let me say up front that while I think the threat is real, I think the U.S. will avoid the worst of it. While the disease is less dangerous than previous strains like H1N1 or the Avian flu, the fact that it is not more lethal can make it more difficult to detect, and therefore more likely to spread. In response to the epidemic, the stock market has taken the worst beating since the great recession in 2008. This is more of a reaction to the number of companies that rely on foreign markets for labor and sales growth. My advice is to ignore the political rhetoric and take the precautions that are recommended by the CDC. We have encountered these threats before and we will get past this one as well. My son and I both have chronic sinus issues, and are susceptible to colds and sinus infections. I’m a big believer in steam and hot tea as deterrents to infection. Beyond that, I don’t plan to alter my plans a whole lot at this point. Stay healthy!
Professional investors know that the best way to make it big is to believe in something that almost everyone disagrees with - and be right. That could be a business idea, an investment opportunity, or a cultural trend.
Next week, I will be speaking at a Hispanic Leadership Summit at the United Nations. I was asked to speak on the topic of Unity. The following is a preview of my speech.
Happy Thanksgiving! The blog will resume on December 8, 2024.