Stuck with one per cent returns on cash balances, investors migrated to equities for their superior yields and hoped-for capital gains. What was forgotten in the mad dash for a better return, was that ‘one per cent is better than minus twenty.’

Forecasting a virus would be the pin that ultimately popped the bubble in asset markets – no one predicted that. March was historic from a markets perspective, as initial panic and liquidation resulted in 30 per cent of the value of the ASX300 wiped out in less than a month. Invariably, different triggers and nuances accompany each crisis and market dislocation, but each is ultimately accompanied by an information vacuum that produces a correction.

In our Investing in Pandemic Markets whitepaper, we discuss the factors that led us to being out of step with the market and to raise cash in our portfolios. So what are the possible opportunities? What’s the path forward from here?

Those focused on quality and value find that opportunities are greatest when that which is temporary is treated as permanent. This crisis will pass like all others before it and navigating through this correction will set up portfolios and wealth outcomes for the next decade.