Friday, 13 March 2020

PGA - Playing Golf Abandoned

Although stock market futures for Friday the 13th have just turned green, the possibility that all the gains since the 2016 US election of Trump will soon be wiped out remains.

On Election Night the S&P 500 closed at 2,139.56. Yesterday it closed 9.99% down at 2,480.64 meaning that another 14% drop will see all the much talked about gains evaporate.
In true Trump style, the Tweet above contained a small error which is that there is no such thing as a 409k. He meant 401k, which is the common name of the personal retirement account used by many Americans. 

His son Eric, with almost perfect timing, tweeted (now deleted) last month:
The S&P 500 closed that Friday at 2,954.22 which means that the answer to his question is no. Down 16% since that great advice. The apple doesn't fall far from the tree.  

As I've mentioned before, it helps to maintain perspective and although my spreadsheet has never seen such carnage (currently down 8.37% this month and 15.79% off the February 19th high), I'm still where I was in June of 2019.

Work was quite interesting yesterday with the news spreading faster than COVID-19 itself that an employee's wife had tested positive for the virus, and that the employee was being tested triggering a rush for the exits and unilateral declarations of "I'm going to work from home". Turns out that it was all an unsubstantiated rumour but just to be safe, I'm working from home myself today although more because it's a Friday than from any viral concerns.

A little surprising that the PGA has also decided to cancel tournaments for the time being. Golf isn't the most physical of sports so a few precautions should have kept the players safe> It's outdoors and as fans are supposed to be quiet anyway, no one would notice if they were excluded. 

Will the Premier League follow suit today? Quite likely with players now testing positive. Unfortunately Lindsey didn't like my suggestion for deciding the title in the event of an abandoned season:

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