The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Gavester, thanks and their picture like ours is not looking good at all. Beware thinking that Corona is exclusively just for the elderly. Here in the UK there are countless cases of adults in their 30's and 40's developing ARDS. This seems to have a bad prognosis. Obviously the younger you are, the better your chances but this second week of infection is the Immune Response week and seems to be the vital one that determines life or death. I worry here in the UK that there are so many patients on ventilators and not enough specialised staff to manage a very sick patient situation. Bit like the Polio epidemic where students were bagging patients in Denmark!
We must thank our lucky stars that we have a mature and sophisticated society that are pulling together, now more than ever, to fight our demons and adjust and be innovative to survive!
Moody's have waded in to SA with a junk rating. Bad, but it may be considered the last of the country's troubles. The pound has come back from the dip which will put pressure on the SP today.
https://www.bloomberg.com/news/articles/2020-03-27/south-africa-gets-full-house-of-junk-ratings-after-moody-s-cut
The gold price will surely to start some moves skyward with the large amount of QE, however there are now factors at play making the price harder to predict. A third of the world is in lock down, mines are closed, industry is on hold, a significant percentage including SA's 6% of world production. Physical gold has been taken off the world's store shelves, but some demand is also on hold. This now also applies to many mined metals and commodities.
I've sold some of my holdings elsewhere but I am holding my PAF. IMO there is trouble ahead but don't want to miss the boat when it leaves.
Hi Eish, it's good reasoning but on the other hand, COVID-19 is known to mainly attack the old. SA may not be as affected as feared due to the average age of the population 27, compared to Italy 45. Even with a higher population age, like Germany's 47, it's not a guarantee that the virus effect will be huge. That said, people have to respect the lockdown and keep a wide social distance for it to work, and three weeks is likely too optimistic. People probably will respect it will after the use of water cannon and rubber bullets on shoppers, but that's not a wise way to deal with panic buyers IMO. I cannot imagine being shot at just because I want to buy some extra food for my family, and I certainly would not respect authority afterwards.
Whiteman's Disease... Weird, because I'm sure white's consider it to be more like a 'Mad Chinese Bat Flu'
We'll see...
https://en.wikipedia.org/wiki/2020_coronavirus_pandemic_in_South_Africa
https://en.wikipedia.org/wiki/List_of_countries_by_median_age
https://en.wikipedia.org/wiki/List_of_countries_by_gold_production
https://en.wikipedia.org/wiki/Mining_industry_of_South_Africa
Great company but I sold out. Lockdown will drag on and news dire. This will fall as Investors seek cash. I will buy back deep into lockdown.
Eish, Thanks for your perspective. Was not aware that Covid19 was classed as a 'whiteman's disease' in SA, which, in my book, puts a significant slant on matters.
I base my assumption on a high population HIV rate (and TB). Joblessness (above 40%) must mean a malnourished population and the present evident mob behaviour and complete disrespect for any form of rule of law, overcrowded taxis etc... makes me predict that this "whiteman's disease" will be devastating. Let's worry about overcoming our own crisis! Guess our peak will be in the next 2 weeks? Keep safe!
Eish, have little doubt that effect of CV19 will have dire effect on SA population but the demographic profile, age wise, is such that although many may get the infection, proportionately, will not fewer die? Yes, this is reducing human beings to statistical data but perhaps nonetheless true?
Hate to "Talk Corona" but as a Doctor who knows the SA scene. This virus will probably have a far worse effect on the SA population than even Italy (or us in the UK - still to see the peak here, sadly). 2 week lock down is too short.
Is going to sail past 2000 very soon! The aftermath of Corona is going to be devastating to the World Economy. Deflation then Hyperinflation, QE and Helicopter money is going to see Au sky rocket