Coronavirus fright market is time to stock up

To me at least, the plunge on the Australian share market sent a clear message. Buy. And I don’t mean toilet paper.

To me at least, the plunge on the Australian share market yesterday sent a clear message.

Buy.

And I don’t mean toilet paper.

I first purchased shares directly in 2006. The ASX 200 rose from about 5000 to 6700 in the following 18 months, then shed more than half its value over the next 18.

Through that monumental fall I sold nothing and kept on buying. The more that stocks fell the more I bought. Around me, people were busy switching their superannuation into the most conservative setting possible, even though they weren’t near retirement. They ended up losing much more by missing the recovery when it came.

I say none of this as advice to you. I am not a qualified investment adviser and I make no recommendation here other than that you should get professional advice.

Speaking of professional advice, that’s what Chief Medical Office Brendan Murphy has been providing to the public every day during this crisis.

But there are many people who are ignoring it, instead choosing – that’s right, choosing – to panic.

The rush on toilet paper is the clearest example.

Another is the widespread use of face masks, which is unnecessary, according to the experts. They should only be worn by the unwell or those who are taking care of a person with a suspected case of coronavirus.

Otherwise it’s just taking a mask away from someone who might need it in the weeks and months ahead.

Wash your hands and keep your head instead.

As Dr Murphy said yesterday more than 80 per cent of people who get COVID-19 have “very, very mild disease”.

So far, three people in Australia have died from coronavirus. Their average age: 85.

Right now panic is a bigger problem than this pandemic.