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Lobnek Newsletter, May 2020

Black Swans And Bear Markets

LOBNEK Wealth Management, May 2020

Yes, it was going to happen eventually: a market crisis followed by a global recession. The fact that we find ourselves in economic contraction should not come as a surprise. The preceding bull market broke longevity records and the market complacency “froth” had been accumulating for almost half a decade of herd-driven euphoria. One could also argue that we should be forgiven for failing to anticipate the gravity of the situation, before it morphed into the global pandemic train wreck, with still uncertain consequences for both the economy and society. How can we blame ourselves when recent brush ups with more lethal variants of the flu didn’t bring us anywhere near what is happening today? Who would have thought that this time would be different?

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