The long weekend and the government support seems to have provided an opportunity for us and the markets to catch our breath for the moment. We look at how things are placed now and in particular contemplate the implications for property.
There’s been an overwhelming amount of information and opinion floating around lately. While some of it is valuable, finding that value can be quite hard. As a result, we’re sharing the best articles we’ve read over the past week:
1. Howard Marks is the head of Oaktree Capital, the largest investor in distressed securities. He typically writes a monthly newsletter but has been prolific throughout this crisis. His latest memo discusses the notion of making informed guesses regarding the future, his questions about re-opening the US economy, and the risk of moral hazard from some of the support being provided to combat the economic effects of the crisis. Click here to read the memo.
2. The next two articles detail the contrary options for managing the coronavirus situation from here. Sam Lovick argues for a fast move to relax social distancing measures. While Stephen Duckett’s view is that we should maintain the current measures in order to eliminate the virus in Australia.
3. Lastly, something very different from Donal Griffin, a solicitor reflecting on how his happiest clients are those who dodged a bullet by either divorcing someone they did not like or survived a near death experience. He argues that the current time is an opportunity for us to rethink what a life well-lived is for us.