There’s no doubt that investors are staring at an unquantifiable crisis as the Covid-19 outbreak infects major economies around the world — most notably the US and key business regions in Europe.

While cash (or gold or silver for those factoring in a more apocalyptic outcome) is king, there is a nagging sense that if this awful pandemic is eventually nullified it might have been prudent to build some equity positions at fire-sale prices to capitalise on a recovery.

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