Payne's Perspective: February 18, 2020: Cautiously Optimistic, Relying On Facts
The stock market powered through another week. The greatest risk wasn’t the coronavirus but reports of impending doom because of the virus. I’m spending a lot of time reading what I can from scientists because the financial media has already decided we are all doomed and wonder out loud why anyone owns stocks. It goes without saying that we should be skeptical of reports coming out of China. However, I think international pressure has forced the adjustment in how potential cases are counted that resulted in a big overnight spike on Thursday. It was reported in a typical ham-fisted fashion. The spike is beginning to smoothen out, and cases outside of China’s Hubei Province are reportedly declining.
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