Coronavirus is starting to directly affect us. Business partners scheduled to visit us this week from the UK cancelled their flight over the weekend. Our London-based colleague Linda van Tilburg says a doctor’s appointment was cancelled by a National Health Service holding all available slots for possible virus-related consulting.
The news media is saturated with information about Coronavirus. We know that it incubates in otherwise healthy bodies for a fortnight – and is easily transmitted. On the upside, those infected with Coronavirus recover just like anyone would from a bad bout of flu. Also, its mortality rate is under 2% – distressing, but no existential threat.
For his part, Mr Market has found the perfect excuse to swap his worn out rose-tinted spectacles for darker shades. Global shares prices fell sharply in the past week and a half, led lower by America’s S&P500 Index which has lost 14% since February’s peak. The JSE followed suit, the local market’s Alsi40 Index dropping 13% last week.
This makes an interesting backdrop to my “Investing after the Budget” presentations this week when I’ll also update the Biznews Share portfolio. Seats are still available – click on the city’s name for more details re: Johannesburg, Durban and Cape Town. If you can’t make it, the message is encapsulated in four words: This too shall pass.
