The Dividend Cafe An Anniversary to Forget and Remember
Mar 21, 2025
Listeners are taken on a reflective journey marking the five-year anniversary of the COVID market crash. Key moments from March 2020 are discussed, highlighting the dramatic market reactions and the Federal Reserve's extraordinary interventions. The conversation emphasizes valuable lessons learned about market volatility, resilience, and the opportunities that arise during crises. The importance of adhering to investment principles amid turmoil is underscored, along with an exploration of the psychological aspects of navigating financial uncertainty.
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Market Drop at the Golf Tournament
- David Bahnsen recounts being at a golf tournament when futures markets opened, revealing a significant Dow futures drop.
- This coincided with oil prices plummeting due to Saudi and Russian production increases and demand concerns, creating a chilling market moment.
First Days of the Crash
- After a red-eye flight to his new NYC office, David Bahnsen witnessed the market drop significantly, marking the worst day since Black Monday.
- Subsequent days brought more market drops, a White House meeting with unclear predictions, and the symbolic beginning of the COVID-19 crisis in the US.
Escaping New York
- Despite a brief market rebound following a government task force announcement, David Bahnsen observed a deserted Midtown Manhattan, prompting an early return to California with his family.
- The following week brought the market's worst day since Black Monday and the start of national lockdowns.