Hi,
as the coronavirus hits Europe and probably a lot of places will be on lock-down, a lot of business will be hit, not only here, but on a global scale. This virus has shown that it is a killer to be dependent on a country, especially like China.
Now a lot of production will be moved out of China, well a lot will be moved out of UK due to Brexit. In the past two weeks we have a lot of request for quotations of moving entire lines out of China and put of England. One out of England was awarded in 2 weeks. In the automotive world 2 weeks is nothing, but we managed to get a deal in almost 2 weeks with a ballpark quote.
A lot of business will go bankrupt in the next period, as people don't consume, a lot of bars, restaurants, stores as people will don't go out.
The entire entertainment industry will take a major hit.
I might get in difficulty with my stuff also, as it depends on so many levels on others people finances.
Well, in every crisis there is an opportunity hidden, if you have cash, stick to it, as there will be so many opportunities coming to leverage it. Just buy foreclosures of stores and use it. Don't need to make money on suffering of others, you can jump in and save business and people for a share of it.
Imagine you save the bar on the corner that you love or buy a house before it gets in foreclosure and ease the life of the people getting into distress. I think here you have a good reserve you can leverage it.
Do you see opportunities coming in as I do?
I was deeply concerned about the COVID-19 from the very beginning, and I did some preparation. Yet, I can not say anyone is prepared for what's to come... The first sign was China, with isolated people, production closure. For me it was clear that this is too serious to ignore (moving the focus of the Chinese gov form Hong Kong was a big deal). Now I see very difficult what's happening in Europe - border closing, school closure, companies temporary closing offices, shop and bars in free fall. The next escalation will be with the banks, and we already see it in Italy. They were suspending mortgage payments for quarantine people (about 30 millions, and this is the beginning). With negative interest rate, there is not much space for recovery...
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I got the effect from Covid-19 too. I don't know when I get terminated. 😭
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