Unemployment Numbers-I'm Confused

[Jurgis]

On the days when market goes up things are "priced in".

On the days when market goes down things are "not priced in".

[Gregmal]

I guess my bigger point is that there’s a few greater things to be cognizant of. Bad companies and those exposed have been destroyed. So have some good companies. Just in my universe FRPH traded to 30s. GRIF saw a $29 ask. MSG(obviously effected) traded to a 30% discount to just the Knicks if you factor in the $400m for Forum. AYR traded less than 1x EBITDA. These are maybe/maybe not the bottom but unsustainable. So a lot is priced in, in certain areas. That said, we also saw a mega year period of low volatility. It would not be unreasonable to now see an extended period of super volatility. Just be on your toes stick to what you know. The demise of some is the opportunity of others. The strong tend to come out stronger. Everyone loved BRK at 225, and still probably likes it, but even there I’ve sensed some love lost. Noise comes in many shapes, sizes and mediums. My 2c guess is that anything can and will go anywhere, short term. But once we get through this, if you stuck with the right stuff, those things are going to go ballistic. I don’t need to remind anyone what decade came after the Spanish Flu... and that’s without helicopter money getting poured on everything.

[AzCactus]

Thanks Gregmal.  Appreciate your point and insights.