Coronavirus scare causing markets to fall

[Tickford.]

Originally Posted by roddy1960

China now into blaming others for all this is probably akin to the little kid who messes the bed , tries to hide it from Mum , gets found out and tries to blame the dog who sleeps on the bed .. Why am I not surprised ?

They're not good liars ....Deal with and admit your mess China like an adult , not a crapped kid and help clean up the mess in a big way .

What has the Chinese government said? Can you provide a link?

[b0son]

Originally Posted by GasoLane

Apparently you can............

There are two strains of the virus. Unconfirmed, but its possible people catch one, recover, then catch the other.

[FoxtrotGolfXray 5.0]

Telstra have now ordered all of their office staff to work from home as of Monday. That equates to 20,000 employees.

Apparently Australia's biggest ever virtual office experiment.

https://www.afr.com/politics/federal...0200313-p549yi

[Beastie]

Originally Posted by FoxtrotGolfXray 5.0

Telstra have now ordered all of their office staff to work from home as of Monday. That equates to 20,000 employees.

Apparently Australia's biggest ever virtual office experiment.

https://www.afr.com/politics/federal...0200313-p549yi

I hope that they all have reception...

Sorry - I had to say it

[au2xr85.0]

Originally Posted by b0son

There are two strains of the virus. Unconfirmed, but its possible people catch one, recover, then catch the other.

From what i've read on a couple of medical forums, it seems the 2 scenarios are:

1. mild flu, sore throat, head congestion, much like normal flu and recover in
7-10 days.

2. Bad flu, head congestion, head aches, sore muscles, much phlem and fluid in the lungs, intense whooping type repetitive cough. requires hospitalization.

Theres nothing to suggest those who have had covid-19 and recovered have caught it again, i think its the fact the virus stays in the host well after recovery period(still infectious).

[MITCHAY]

Originally Posted by au2xr85.0

From what i've read on a couple of medical forums, it seems the 2 scenarios are:

1. mild flu, sore throat, head congestion, much like normal flu and recover in
7-10 days.

2. Bad flu, head congestion, head aches, sore muscles, much phlem and fluid in the lungs, intense whooping type repetitive cough. requires hospitalization.

Theres nothing to suggest those who have had covid-19 and recovered have caught it again, i think its the fact the virus stays in the host well after recovery period(still infectious).

I've had whooping cough before when I was in college and it the most sick I have ever been.

Coughed so hard I was vomiting and actually burst a blood vessel in the nose which I occasionally still have issues with.

Was off school and work for at least a month then couldn't work for another 2 weeks because of the nose bleeds.

[Tickford.]

Originally Posted by GasoLane

Apparently you can............

"Ms Honey's symptoms eventually disappeared and she returned a negative result, but she recently tested positive again.

That is consistent with reports from China and Japan of patients being discharged and then testing positive for the second time.

This could mean the virus is biphasic, where the virus lurks around undetected before recurring."

https://www.abc.net.au/news/2020-03-...virus/12026902

From that article..

"I feel fine. I've had no fevers, no coughs, no nasal problems, no aches, no pains. Nothing," he said.

It is no surprise to professor of global biosecurity at the University of New South Wales Raina MacIntyre who said asymptomatic transmission was making COVID-19 hard to control.

"This is the major difference with SARS," she said.
"SARS was only infectious when people had symptoms, so you could identify someone who was infectious because they had symptoms."

WT?? All information out on this is telling people to watch for symptoms (fever, cough, runny nose, etc), but here we have someone who was infected but had NONE of the symptoms whatsoever, and wasn't aware??

[Yellow_Festiva]

Well, now the blame game and slinging match has started on a global scale.

Apparently China is now saying there is no proof that it started there.

https://www.msn.com/en-au/news/world...cid=spartanntp

I dread going to sleep because I don't want to hear what the radio will say on the news tomorrow....

Several very public figures have now been diagnosed with Coronavirus.

I work in the middle of the CBD and have to deal with hundreds of people each shift.

When will I be next? Tomorrow? Next week?

[Franco Cozzo]

Some of my competition is running out of stock in a huge way and can't get resupply which is pushing customers into my loving embrace

[Peuty]

Jeez there is some serious scare mongering in this thread, especially regarding superannuation and investments.

If you don't need your money (i.e., aren't nearing retirement, or in retirement), the absolute worst thing you can do right now is switch to a lower risk investment option. Any losses you saw on paper will be crystallised by doing so - a self-fulfilling prophecy.

This is a market correction in a long line of previous market corrections and one that was probably due to happen anyway. Ride it out if you are able, the market will bounce back - it always does.

Perfect opportunity to buy some cheap blue chip shares or units in a high growth managed fund.

[Romulus]

Originally Posted by Peuty

Jeez there is some serious scare mongering in this thread, especially regarding superannuation and investments.

If you don't need your money (i.e., aren't nearing retirement, or in retirement), the absolute worst thing you can do right now is switch to a lower risk investment option. Any losses you saw on paper will be crystallised by doing so - a self-fulfilling prophecy.

This is a market correction in a long line of previous market corrections and one that was probably due to happen anyway. Ride it out if you are able, the market will bounce back - it always does.

Perfect opportunity to buy some cheap blue chip shares or units in a high growth managed fund.

Exactly! Interesting to note the DJI jumped 9.36% near end of trade today while POTUS was giving his speech. The market has oversold this scare due to the media hype created. It's going to be a great buying opportunity.

[GT0132]

Originally Posted by Peuty

Jeez there is some serious scare mongering in this thread, especially regarding superannuation and investments.

If you don't need your money (i.e., aren't nearing retirement, or in retirement), the absolute worst thing you can do right now is switch to a lower risk investment option. Any losses you saw on paper will be crystallised by doing so - a self-fulfilling prophecy.

This is a market correction in a long line of previous market corrections and one that was probably due to happen anyway. Ride it out if you are able, the market will bounce back - it always does.

Perfect opportunity to buy some cheap blue chip shares or units in a high growth managed fund.

Most sensible post in this thread

I'm about 6 years off retirement but converted my super balance and future contributions from growth to conservative about 6 months ago on the basis that, in my view, the stock markets in most OECD countries had experienced significant growth since 2016 and it just couldn't keep rising the way it had.

The talk by someone earlier in this thread about how they "predicted a depression" in 2020 is BS. No one could ever have known this was going to happen and the only negative economic news prior to this was the trade war between the US and China

I'll probably convert back to growth investments once the dust has settled.

The property market will, in my view, either continue to grow or at worst plateau provided there is no mass unemployment . While in businesses where most staff can work from home won't impact the productivity of those businesses, its the travel industry (and those that rely on it) that will be obliterated if this ain't fixed soon. Hotels, restaurants, tour operators

[b0son]

Originally Posted by GT0132

I'll probably convert back to growth investments once the dust has settled.

Same. During the GFC, I converted from 'balanced' to 'conservative' when the markets dropped from 6500 to 5000 points. The markets then fell to 3000. If I hadnt, I'd have had to wait 2 years to recoup the fall to 3000.

I did the same last week. The market may have settled for now, but it will almost certainly fall further as more countries lose control like Italy, whose market has already fallen 40% and they're nowhere near past the worst of it.

[Syndrome]

This is totally pharking us big time. My super is getting smashed.

[Fed]

Originally Posted by Syndrome

This is totally pharking us big time. My super is getting smashed.

Didn't your super fund contact you 2 Months ago & advise you to immediately switch to cash? Yeah that would be right. Of course they're still charging you to lose your money for you.

[Peuty]

Originally Posted by Fed

Didn't your super fund contact you 2 Months ago & advise you to immediately switch to cash? Yeah that would be right. Of course they're still charging you to lose your money for you.

You have got to be joking, right?

[b0son]

Originally Posted by Fed

Didn't your super fund contact you 2 Months ago & advise you to immediately switch to cash? Yeah that would be right. Of course they're still charging you to lose your money for you.

Didn't you log in to your super fund account and change the investment category when the market started heading south? My wife and I both did.

It never ceases to amaze me how apathetic people are about their super....

[vztrt]

Originally Posted by b0son

Didn't you log in to your super fund account and change the investment category when the market started heading south? My wife and I both did.

It never ceases to amaze me how apathetic people are about their super....

You can do it via an app. Not that hard. But it's always someone else fault.

[T3rminator]

Originally Posted by Syndrome

This is totally pharking us big time. My super is getting smashed.

Depends. This fall is great if you are not retiring in the next couple of years and believe the market will rebound. History shows it will. You will be picking up a lot more units on your super per $ right now.

[Romulus]

Originally Posted by T3rminator

Depends. This fall is great if you are not retiring in the next couple of years and believe the market will rebound. History shows it will. You will be picking up a lot more units on your super per $ right now.

No losses are incurred if you do not sell, it's simply value changes. As mentioned, DJI jumped nearly 10% near market closing on Friday after the US declared a state of emergency, freeing up $50 billion to spend on the current issue at hand. Europe might be in pandemonium for the next few months but early indicators are China is opening up and getting back to business. That's what matters.

IMO the share market has massively oversold based on media fear and panic, there will be plenty of buying opportunities for folk who run their SMSF and traders.

5% fluctuations in the market seem to be the norm at the moment albeit it unprecedented. Things will stay volatile for the next couple of months.

[b0son]

Originally Posted by Romulus

Things will stay volatile for the next couple of months.

That's a massive understatement.

Italy is not unique. It's highly likely it will happen here and almost certain in the US - the number of critical cases exceeds ICU beds and the fatality rate shoots up.

We have 2000 ICU beds nation wide. If 5% of cases require critical care, that's only 40,000 active cases. Our doubling time is around 4 days at the moment, so we'll exceed 40k in around a month unless significant steps are taken.

You ain't seen nothin yet....

[Romulus]

Originally Posted by b0son

That's a massive understatement.

Italy is not unique. It's highly likely it will happen here and almost certain in the US - the number of critical cases exceeds ICU beds and the fatality rate shoots up.

We have 2000 ICU beds nation wide. If 5% of cases require critical care, that's only 40,000 active cases. Our doubling time is around 4 days at the moment, so we'll exceed 40k in around a month unless significant steps are taken.

You ain't seen nothin yet....

That's a massive overstatement and exactly toes the line of the fake news peddling their fear porn narrative. It'll be over and done in 2 months time except for the hypochondriacs, but they dont count.

[Yellow_Festiva]

Originally Posted by b0son

That's a massive understatement.

Italy is not unique. It's highly likely it will happen here and almost certain in the US - the number of critical cases exceeds ICU beds and the fatality rate shoots up.

We have 2000 ICU beds nation wide. If 5% of cases require critical care, that's only 40,000 active cases. Our doubling time is around 4 days at the moment, so we'll exceed 40k in around a month unless significant steps are taken.

You ain't seen nothin yet....

I wonder how many empty facilities could be quickly converted into treatment centres?

Vacant hotels, schools, halls, receptions, retirement villages, nursing homes, hospitals, medical centres, office buildings etc.

Got to hand it to the Chinese - when they say they will do something fast they do.

If predictions are that we will run out of beds then there should already be works underway to get emergency facilities online ASAP.

I heard they were even asking retired nurses and other medical practitioners to be on standby for a possible request to help.

Only issue will be the supply of actual hardware needed (beds etc) and people power.

[CoupeKing]

Dow jumped two thousand points overnight. Lets see how it is on Monday - early Tuesday morning for us.

[Peuty]

Apathetic is too kind of a word in my opinion.

[DaveD]

As of midnight Sunday every person arriving in NZ, will have to isolate themselves for 14 days....
https://www.nzherald.co.nz/nz/news/a...ectid=12316692

[Peuty]

I stole this from an ASX investor page I am a member of. I agree with all points.

New infections in Wuhan China have now dropped to a trickle...

The supply side of the economy is healing after only a couple of short months of hysteria.

The demand side is now in full hysteria... as cities go into lock down.

But if stores are re-opening in the city where the virus first started...

Would it not be the case in cities where it’s now spread?

“Every storm runs out of rain...”

The market is acting like cities will be closed indefinitely... like business will never happen again... like it’s the end of the world.

In a few months, when the virus passes.... and earnings move back to what they were prior... will stock prices stay the same?

I hope they do so we can all buy them for 3 times earnings!

But I dare say... they won’t be low for as long as we all think.

I think back to the GFC where entire countries were going bankrupt, where 100 year old banks were going broke... and I don’t think even back then we saw this type of panic selling.

This is not a financial crisis where collateralized NINJA loans were being sold...

It’s a temporary virus. That’s caused a statistically insignificant amount of deaths.

As the fear abates...

And as Tom Hanks recovers... so too will the earnings of businesses.

If markets recovered from a global financial fraud...

Then they will certainly recover from a seasonal flu.

Haters... please comment 👇😂 tell me how the world is going to end.

[GXA]

It seems perspective has gone out the window....

[b0son]

China had a near total lockdown. The army enforced people being locked into their apartment buildings. Yes, the virus rapidly runs its course if you totally restrict peoples movements. Who, apart from Italy has done anything close to this?

[Yellow_Festiva]

Originally Posted by b0son

China had a near total lockdown. The army enforced people being locked into their apartment buildings. Yes, the virus rapidly runs its course if you totally restrict peoples movements. Who, apart from Italy has done anything close to this?

Is this close enough?

Denmark shuts all schools and universities amid surge in coronavirus cases
The Danish Government has announced the closure of all schools and universities and is sending home all non-critical government workers.

The government in Denmark has announced all schools and universities will be closed and non-critical public sector workers will be sent home in response to the coronavirus pandemic.

The announcement was made after the number of cases in the country surged on Wednesday to more than 500.

Danish Prime Minister Mette Frederiksen said all schools, preschools and universities in the country would be closed in the country as of Monday.

She further announced public sector employees would be sent home unless their job was deemed critical. The drastic step is being taken by the government in an attempt to stop the spread of the coronavirus, which has now been declared a pandemic by the World Health Organisation.

On the same day of the government’s announcement, 514 people were diagnosed with the coronavirus in Denmark, which equates to a tenfold spike in the country’s number of infected patients.

The government have also advised that all events with more than 100 people should be cancelled. The previous advice was for events with 1000 people or more to be cancelled.

https://www.news.com.au/lifestyle/he...19ef52fc973e46