‘Economists make fortune-tellers look good’: This investment manager thinks the US is on course for a V-shaped recovery as markets ‘have already priced in’ a 2nd wave of coronavirus
- Ryan Payne, president of Payne Capital, told Busines Insider that the US would face a V-shaped recovery even if a second wave of COVID-19 persists.
- Key US states such as Arizona, California, and Florida saw rises in COVID-19 cases.
- Payne said markets had “already priced in” the impact of 2nd wave of coronavirus.
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The US is on course to face a V-shaped recovery, as markets have “already priced in” the risks of a second wave of coronavirus, an investment manager said.
Ryan Payne, president of Payne Capital Management, said: “If you look at the Jobs report of last week, it identifies how quickly the economy can come back online and secondly how dire the economists have been.”
“Economists make fortune-tellers look good. They never seem to get it right,” he said, in an interview with told Business Insider.