its worth quoting todays email from John Ryder.

The Australian Financial Review describes the crisis as: "The biggest economic disaster since the depression of the 1930s" - and yet the equity market,after an initial collapse, continues to be positive... courtesy of governmentand central bank initiatives. It is unusual for share market melt-downs to havea V-shaped recovery, as they tend to re-test lows a number of times. Prices arestill high in traditional (average) terms, and (at this level) will beexcessive when future earnings are reported.

and a little funny at the end

There is misery everywhere. In London, wealthy families are studying Housekeeping 101, as butlers and housekeepers self-isolate at home.



​ John is definitely one whose views should not be dismissed