In my opinion, we will only begin to see the economy start to recover once fears about the virus itself begin to subside. The economic disruption is unprecedented. Millions of jobs have already been lost and many businesses may never reopen. The fact is, we have no idea what will happen over the next few months. But markets tend to hate uncertainty, and until a vaccine is invented, we are in a daily process of positioning the portfolio for months of potential rolling volatility. This provides risk, but also abundant opportunity.
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