On March 16, the Volatility Index (VIX) closed at 82.69, a record high.
All of the news that day was bad news and it seemed like that would never end. I wrote a post at the time…
“When all news is bad news it can seem as if it will be that way forever. But it won’t. Betting against human grit and ingenuity in the long-run has always been a bad bet in the past and this time is no different.
That’s true in life and in investing.
It will get worse before it gets better but this, too, shall pass. We’re going to beat this thing and come out stronger than before. Better days are ahead.”
What were the experts saying about the possibility of a vaccine back in March?
A month later, the skepticism remained…
And again in May…
There was every reason to believe these bleak projections. Every reason except one: hope. Hope that when the smartest minds in the world work together to fight a common enemy, they will ultimately prevail.
And prevail they did. Today we have not 1, not 2, but 3 vaccines that have proven to be safe and highly effective. The first batches will likely be available before the end of the year to those who need it most. That’s nothing short of a miracle.
This Thanksgiving, I’m thankful for human grit and ingenuity, without which this remarkable feat would never have been possible.
Happy Thanksgiving everyone!
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