The Spanish flu (500 million infected, which was 1/3 of world population at the time, and 50 million dead) came in three waves, the 2nd wave being most deadly (and the 3rd wave being worse than the 1st):
The stock market took notice mainly / only of the first wave:
- It fell 1/3 on the 1st wave (just like the recent drop that the 1st corona wave caused)
- It then climbed back to 80% (just like the recent climb of the US markets)
- When the 2nd more deadly wave arrived stock markets did not fall below 80% again
We may have seen the bottom of the market
BBUS, page-2244
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Change
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