Here’s what the investing pros are buying amid the coronavirus volatility

In less than a month, the longest bull market is history vanished as benchmark indices such as the S&P 500 fell more than 30 per cent from their peaks. The downturn stunned investors, the professionals included, with many selling quickly to accumulate cash. Although they stayed on the sidelines at first, portfolio managers have now begun to deploy some of the cash. Here’s what they’re buying:

Keith Richards, president and portfolio manager of ValueTrend Wealth Management — Alphabet Inc.

Keith Richards makes his investment decisions based on the technical analysis of stocks. When Alphabet Inc. Class A stock lost more than 30 per cent of its value between February and March and approached the US$1000 per share mark, but didn’t fall below it, Richards spotted a “massive” level of support and bought in. Charts aside, he believes that this recession will spell the end of several smaller companies and continue

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China reports one local coronavirus case, 54 imported, cuts international flights By Reuters

© Reuters. Woman wearing a face mask takes pictures with a mobile phone at a riverside park in Wuhan

By Se Young Lee and Lusha Zhang

BEIJING (Reuters) – Mainland China reported its first locally transmitted coronavirus case in three days and 54 new imported cases, as Beijing ordered airlines to sharply cut international flights fearing travellers could reignite the coronavirus outbreak.

The 55 new cases reported on Thursday was down from 67 a day earlier, the National Health Commission said in a statement on Friday. There are now 81,340 confirmed cases in mainland China.

The death toll stands at 3,292 with five new deaths.

Imported coronavirus cases, mostly Chinese nationals returning home, now pose the biggest concern for authorities.

Shanghai reported the most new imported cases with 17, followed by 12 in Guangdong and four each in capital Beijing and nearby Tianjin.

Shanghai is currently treating a total of

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Coronavirus stock market volatility: How these traders are making the most of it

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