Nomura’s McElligott Asks: ‘Could It Really Have Been That Simple?’
Gathering storm clouds notwithstanding, market participants are obliged to ponder the somewhat surreal prospect that, as apocalyptic as everything seemed in March, the pandemic plunge amounted to nothing more than a dip-buying opportunity.
Don't misconstrue that as an attempt to downplay widespread economic suffering on Main Street. And certainly don't take it as an effort to trivialize the tragedy inherent in the 668,000 lives lost so far in the pandemic.
Rather, the point is simply that from
Seems like everyone bought the bottom except for me…..it was so simple.
I missed it too.
me too
I missed it too.
add me to the list
Ha! Bought high, sold low, buyin’ high (mostly)
Nice to have company.
Now I understand why some posters are negative…. didn’t hear their inner FOMO and seize the opportunity.
Me too.
I will add this, too: it was only a “buy the dip” opportunity if you believe the economy/ earnings potential looks as good post- pandemic as it did pre-pandemic.
I timed it but would have done much better buying SPY. I did not believe, nor did most believe March was really the bottom. Time will tell.
I”m f’ing finally learning not to doubt the Fed and just BTFD. Which given my poor track record, suggests even the Fed may be near their limit. But with ye olde digital printing press handy, does the term “limit” even apply to the Fed?
And I”m thinking the Fed will not let both the stock market and the real economy crash at the same time. So the stock market pump will go on until the pandemic has mostly passed. Just the opposite of what most regular folks would intuit, but makes sense from the Fed’s perspective.
I find it hard to believe it won’t be a buy the rumor — the Fed has our backs until the pandemic passes — and sell the news — the Fed was there until it passed. Then what?