[Pensford] I’m about to upset a lot of people this week and I apologize in advance. I actually deleted a lot of this from last week’s newsletter after I got eviscerated by friends and family. Eviscerated. Shamed. I can’t recall another time in the 11 years of writing this newsletter that I self-edited so heavily. These are people I love, respect, and trust more than anyone else. They made clear I was on the wrong side and needed to keep my ignorant opinions to myself. So I quarantined my opinion. Which lasted all of one week.
With the market plunge over the last week, I wonder if the larger societal quarantine will last any longer than my opinion quarantine?
Coronavirus is exceptionally dangerous and highly contagious. We were ill-equipped to handle a pandemic. I personally was ignorant to the risks and to our own inability to counteract them. None of what I am about to say is rooted in a belief that this virus isn’t terribly serious. With those caveats out of the way.... |