Since 24 February 2020 till now, both the S&P500 and the Straits Times Index (STI) had fell at least 25%. If you had looked them up graphically online from finance sites such as Yahoo Finance, Bloomberg, etc., it resembled a steep, almost vertical cliff face. The COVID-19 outbreak continued unabated across most parts of the world, causing panic, as well as a huge unprecedented and unplanned global social experiment in terms of lockdowns, social distancing and telecommuting. This sudden disruption and behavioural shift had caused several sectors and industries to an almost standstill, especially airline, tourism, hospitality, logistics, physical retail, etc. As we know the entire financial market and economy is made up of different sectors and industries which are interdependent on one another, a stop in a few will likely result in an overall slowdown, and with this the looming threat of a huge recession.

Portfolio wise, test subject Bob’s...