Asked on 13 Apr 2020
With this COVID-19 situation affecting it to this extent, will it close the markets?
Hi anon, anything can happen in the stock market. The trick is to buy strong businesses so even if the stock market closes, we will be alright since investing is a long-term thing.
"I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years." -- Warren Buffett
Judging Trump from the tenure of his presidency, it is unlikely that the markets will close. He has downplayed the threat of the virus outbreak on numerous occasion and in fact, 33 times as calculated by The Washington Post. Trump has even wanted the nation "opened up and just raring to go by Easter" (today), which has not taken place. Just yesterday, there was more than 20,000 new confirmed cases with total confirmed cases to be more than half a million. With inadequate measures, insufficient equipment and a incompetent leader, one can expect this outbreak to persist for an extended duration. I believe the market is irrationally optimistic now.