Into the unknown

As markets and investment values display violent volatility on a daily and sometimes hourly basis, many investors are coming to terms with the fact - no longer deniable - that we are in for months of turmoil. At times like this, we take comfort from the fact that each of us who has spent years as investors has seen many market crises. By now we know that no matter how bleak things look, there's always a turnaround in the works. That's something that we expect and it's not an unfair expectation. However, depending on the nature of the market crash, there's a variation on this theme each time. With the COVID-19 crisis, the variation could be something quite new and novel. The reason is that the underlying cause of the market crash is external. Equity investing is a