This must be one of the longest 3 months for many fellow investors. It is not that often that we get to witness such spectacular movements from the markets. In just a short span of 16 trading days, S&P 500 went from a high of 3386 in February 2020 to a low of 2480 March 2020. To put it more bluntly, S&P 500 crash 26% and went into the bear territory. This wiped out what S&P 500 made in 2019, one of its best years, in just a little over 3 weeks. The speed is astounding.
It is not the first time I have seen this though. Back in 2008, the collapse of Lehman Brothers in 2008 saw S&P 500 tumbled more than 20% over 7 days. I was a junior analyst looking at quantitative hedge funds and strategies in the asset management industry then. And I still recalled a colleague telling me Citigroup was a no-brainer steal when it was trading at around 30 bucks shortly after. And about a month later, it plunged...