“An important lesson from history is that the risks we talk about in the news are rarely the most important risks in hindsight. We saw that over the last decade of economists and investors spending their lives discussing the biggest risk to the economy – was it Ben Bernanke’s monetary policy? Barack Obama’s fiscal policy? Donald Trump’s trade wars?
No, none of those. It was a virus. Out of the blue, causing havoc we couldn’t comprehend.” – Morgan Housel
