Macleans: This year has proven that the stock market has no bearing on our grim economic reality
For one, the market crash in February that saw stocks erase four years of gains was driven by the deep fear of not knowing how severe COVID was going to be in terms of morbidity. “It turned out to not be the worst-case scenario,” says Felix Narhi, chief investment officer at PenderFund Capital Management. “All these things are more knowable now. COVID is more contagious than SARS [the virus behind the 2003 outbreak] but it’s not as deadly.”
Felix Narhi sat down with Jason Kirby from MacLeans and spoke about the effects of COVID-19 on the economy and the stock market as well as the distinction between the two.