Sentiment has snapped. Did the 10-year bull market just end?
We’ve been covering the spread of the coronavirus so intently over the past 30 days that we’d understand if you might have forgotten that, actually, we usually focus on many other topics on this website than global pandemics.
One topic we’ve tracked closely for years is the highly unsustainable levels of financial asset prices. We’ve been warning our readers for a *long* time that the markets are overdue for a painful correction. Our podcast with analyst Sven Henrick earlier this week gave great detail on the many reasons why.
And the coronavirus, with the havoc it’s wreaking on global trade, may just be proving to be the “black swan” pin that pops the market’s bubble. The sharp swoon we’ve seen over the past week has been historic: it’s the fastest 10%+ drop in the S&P 500’s history.
In the short video below, we check in with the lead partners of New Harbor Financial, Peak Prosperity’s endorsed financial advisor, to get their seasoned take on the current market meltdown: