Y2K versus Covid-19: lessons to learn…

Richard Bull | 28 May 2020 Who is going to pay for lockdown?   Dear Reader,   Today’s market broadcast goes back in time.   First, it was recorded yesterday because Boaz Shoshan wanted Eoin Treacy’s thoughts on who is ultimately going to pay for the lockdown… and Eoin is based in LA.   Secondly, because the conversation took them back 21 years to 1999.   Back then there was a massive boom in tech and telecoms…   Everyone was terrified the world would come to a stop, thanks to Y2K –  the Millennium Bug.   It pulled forward a lot of spending as everyone upgraded their tech.   But while Y2K proved to be a storm in a tea cup…   It saw the NASDAQ spiral into a three-year bear market.   Eoin also reveals new figures from America’s Centres for Disease control and Prevention (CDC) downgrading Covid-19’s mortality rate by 90%... from 3-4% to 0.4%...   As well as figures out of Italy.   I won’t reveal them here.   But they raise alarming questions over the necessity of the $5.6 trillion lockdown…   Particularly as regards who will ultimately have to pay.   Everything you need to know is here.   Best,   Richard Bull Southbank Investment Research    P.S. There’s some pretty clear cut advice on where you should invest at least some of your wealth too.

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