Long Termin Investment Fund: Newsletter of June 2021
“If you expect to be a net saver during the next 5 years, should you hope for a higher or lower stock market during this period?”
Warren Buffett
Despite the delta variant, the economic outlook remains positive
Markets are understandably worried by the current spread of the Delta variant of the Covid virus. It’s more contagious than the previous variants, which is why it spreads so quickly. The fastest spreading variant will, by definition, always be the most contagious one, although this one doesn’t seem to be more dangerous.
Vaccines offer strong protection against this variant. Even vaccinated people who do become infected (vaccines never protect 100%), don’t develop serious symptoms; let alone life-threatening conditions. The number of vaccinated people who become seriously ill, or even die, is similar to that of typical flu cases.
The data support this conclusion. If we look at the UK, the Western leader regarding Delta infections, and Israel, which had almost eliminated the virus, it becomes clear that although the number of infected people has increased, the number of hospital admissions and the number of deaths have only increased slightly.
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