Pfizer vaccine
9 November 2020 09:10![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
m_d_hThe stock market is exploding upward this morning on the basis of interim vaccine effectiveness data from Pfizer. The data have not been peer reviewed, and this report doesn't tell us anything about safety. It also doesn't tell us anything about whether their manufacturing process for the vaccine is working well.
Some people had asked me a couple weeks ago about whether they should get back into the stock market, or sell their stocks, and I told them what my positions were. I was waiting out the election news. I'm a conservative investor, so I miss out on some of the rallies like this one. And if I thought stocks were already too expensive, compared to earnings, pricing stocks 6% higher will not encourage me to buy more.
But today's news doesn't change anything. It's better news than the opposite, but it is just an interim milestone and subsequent milestones may break a different way. And it will still take months to vaccinate everybody, even after all the milestones are met. Hopeful news, but ... hang in there peeps.
Some people had asked me a couple weeks ago about whether they should get back into the stock market, or sell their stocks, and I told them what my positions were. I was waiting out the election news. I'm a conservative investor, so I miss out on some of the rallies like this one. And if I thought stocks were already too expensive, compared to earnings, pricing stocks 6% higher will not encourage me to buy more.
But today's news doesn't change anything. It's better news than the opposite, but it is just an interim milestone and subsequent milestones may break a different way. And it will still take months to vaccinate everybody, even after all the milestones are met. Hopeful news, but ... hang in there peeps.