While financial analysts have been hesitant to say that the markets have hit bottom, Mike Wilson, the chief US equity strategist at Morgan Stanley says the risk-reward factor is better than it has been in years and now is the time to invest.
After closing lower on Friday, today the markets are up over 6% and climbing at the time of this writing. Investors are realizing that although the death tolls from coronavirus may be the worst this week, the peak of new COVID-19 infections in the US was on March 16, 2020, according to data from the CDC.
Financial Expert Says Now Is a Good Time to Make Long Term Investments
Wilson believes that the worst for investors is over and the markets are ripe for new investors. He explains that a cyclical bear market started two years ago, and not last month, as many people think. For investors willing to test the waters, the rewards could be rich over the next 6-12 months.
The rate of new coronavirus cases in New York is beginning to drop, which is a positive development. New York was considered an epicenter of COVID-19.
President Trump is optimistic that the nation will soon see positive changes although he warns there will be many more deaths to come before it’s over. Although, the number of deaths in the United States, so far, is eclipsed by the number of deaths from flu complications every year. Dr. Fauci has admitted the doomsday projections of coronavirus deaths are wrong.