Silver Lining
COVID-19 – our black swan event has arrived and over a short period of time has had a significant global impact, created an immense amount of uncertainty and ended the longest running bull market in history. The level of uncertainty is resulting in record market movements, reminding us that markets in the short term are irrational. While the current movements appear drastic, volatility is not a new phenomenon and is as old as the market itself. Whether it is innovation, medicine, markets or life expectancy, ultimately there is one consistent trend – an improvement over time.