The road to recovery: look at the returns

As the world grappled with the coronavirus pandemic, the situation was looking bleak in late March. The stock market has just experienced the steepest decline in its history — falling by more than 35% in less than 5 weeks. Nouriel Roubini, best known for predicting the subprime mortgage crisis but also for constantly criticizing Bitcoin, wrote on March 24 (one day after the bottom):

"The best economic outcome that anyone can hope for is a recession deeper than that following the 2008 financial crisis. But given the flailing policy response so far, the chances of a far worse outcome are increasing by the day."