Daily Archive: March 23, 2020

What the Battle of Midway can teach investors about responding to the COVID-19 crisis

I recently watched the film Midway, which depicted a key turning point for the Americans in the Second World War, following the Japanese attack at Pearl Harbor. It reminded me a lot of what has transpired over the past few weeks as the global economy has come to grips with the sudden threat posed by the coronavirus.

Thanks to social media and the rapid spread of fear, markets have reacted violently, resulting in catastrophic damage with equity markets falling by more than 35 per cent in just a few weeks. This has left many wondering what the future holds not only for the economy but also for those investing in it.

However, during such times there are some important lessons to learn from history, and Midway is one of them.

Stay calm and listen to the intel

There were those such as Col. Rufus Bratton who believed an attack on

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Harvey Weinstein tests positive for coronavirus in prison: union official By Reuters

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© Reuters. FILE PHOTO – Film producer Harvey Weinstein departs Criminal Court in new York

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By Karen Freifeld

(Reuters) – Former movie producer Harvey Weinstein, who is serving a prison sentence for sexual assault and rape, has tested positive for the coronavirus, according to the head of the state corrections officers union.

Weinstein, 68, has been placed in isolation at Wende Correctional Facility, said Michael Powers, president of the New York State Correctional Officers and Police Benevolent Association.

Powers said he learned that the test came back positive on Sunday morning and is concerned about the corrections officers, who he said lack proper protective equipment. Several staff have been quarantined, Powers said.

Weinstein arrived at Wende Correctional Facility, a maximum security prison east of Buffalo, New York, on Wednesday after being housed at New York City’s Rikers Island jail.

He was sentenced to 23 years in prison on

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In a first, NYSE will close its trading floor and conduct remote trading amid coronavirus pandemic

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The coronavirus strikes Wall Street again.

On Monday, March 23, New York Stock Exchange (NYSE) will close its trading floor indefinitely, with traders and market makers working remotely as concerns of contagion continue to disrupt every facet of the financial markets.

It will mark the first time the NYSE has closed the floor on the same day markets are open since it first had a formalized place to buy and sell shares in 1871. The current NYSE floor opened on Apr. 22, 1903.

Physical meetings of traders go back even further—since the Buttonwood Agreement of May 17, 1792, which established what would become the current exchange. The floor has closed dozens of times for extraordinary situations like extreme weather or war—as did … Read More