Economic Normality: When? Sooner? Never?

In the time since COVID-19 hit the economy and stock market, there has been three phases. First, the question was ‘when’ will the economy return to pre-COVID normal? Next came ‘sooner or later’? Recently, we have moved to ‘will the economy ever come back’? For long-duration investors like us, what are the investment implications in where we are now in a U.S. stock market with many securities priced for ‘never’?Q2 2020 hedge fund letters, conferences and moreThe Fall Of Economically-Sensitive StocksWhen COVID-19 hit in February, centered in the media capital of the universe (New York City), all…

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