20.11.2020
Discovering the price of hope
“After all, what does the stock market sell us if not the unfounded hope of a rosy future?” – Japanese writer Haruki Murakami (b. 1949)
“The stock market is filled with individuals who know the price of everything, but the value of nothing.” – American investor Phillip Fisher (1907-2004)
The above two quotes aptly describe the erratic nature of the stock market that investors must pay heed to, lest they stand to lose massive fortune by the sole virtue of allowing greed to get over them or for assuming that good times will last forever.
Drugmakers Pfizer-BioNTech and Moderna recently revealed that the COVID-19 vaccines they are developing can reduce an individual’s chances of contracting COVID-19 by about 95% and 94.5% respectively.
Such positive developments have prompted another rally in stock markets around the world. Even amid a COVID-19 infection spiral, stock market records were broken at Wall Street during 16 November overnight trading with the DJIA soaring 470.63 points or 1.6% to close at 29,950.44 – only about 50 points shy of the 30,000 mark, a level it has never crossed in its history.
