The Slow Response to the Global Pandemic

Investors and think markets are reasonably good at handicapping probabilities around human events. I argued in late February that we're dealing with something we've never dealt with before. Phil Lowe said this recently following the announcement of his QE program. The interesting thing with the benefit of hindsight is if the Chinese had taken a much more assertive approach to containment in Wuhan in December, it might not have been so bad.