A day to remember

Mar 09, 2020 | Jeremy Goldfarb


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SP500 week of March 2 2020

Hey!!! Look at these unreal drops and off the charts volatility

SP500 day of March 9 2020

Hold my beer.......

 

Certainly an unreal day on the markets with the following happening:

  • SPTSX loses 1660.78 points
  • DP500 loses 225.81 points
  • DOW loses 2013.76 points

I spent much of the day fielding calls from clients, but the subject matter.....not what you would think. The vast majority were asking what it was we should buy in this turbulent market. Not whether we should sell. The big boards (markets) lost significant value today, and while things may look cheaper from a P/E standpoint, it's not necessarily the P that matters......it's the denominator.

 

That aside, there are some real quality companies out there priced at a discount to where they were not a fraction of a month ago. Think about that.

 

fun notes:

On a bad day we look for silver lining or humor. Not sure if this is either, but the run on toilet paper in Australia has reached new heights. See the video here