The Stingy News Weekly: 04/04/2020
Stingy News Flash
Rothery Report Reopens
I've temporarily reopened the Rothery Report to new subscribers because anyone who is interested in buying during bear markets is my sort of person. You can sign up over here.
The path ahead
"Since then, things have slid further and faster economically than anyone could have imagined. As of today, we have been spared what was predicted in the more catastrophic medical forecasts, but what started as theoretical and distant feels dangerous and ever-present. I have two friends-of-friends in the ICU with it, the first COVID-19 death in Missouri was in Columbia last week, and you can't read about what's taking place in NYC and react with anything other than deep concern." [Management]
Vanguard investors holding steady
"The typical trader is buying equities on the dips, but older, wealthier traders are moving modestly to fixed income. On balance, we believe these levels of trading indicate that the vast majority of investors are maintaining a long-term perspective despite the market turmoil." [Indexing]
Against all odds
"The Winnipeg lab also had been working for years on an Ebola vaccine, one that looked tremendously effective in animal models. The lab had even produced human-grade vaccine in the hopes of testing it in people. But as of April 2014, that still hadn't happened. The vaccine had never been deployed in an outbreak." [Health]
"Nearly three-quarters of those surveyed say the current ad downturn will be worse than the financial crisis in 2008. About a quarter of those surveyed by IAB have pulled all of their advertising through the second quarter. Another 46% are reducing their ad spend for the same period." [Media]
When dollar cost averaging matters most
"Even the contributions that were way too early or way too late in relation to the bottom look amazing in terms of their growth. Those contributions have had longer to run than the more recent purchases but that.s the whole point." [Markets]
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