by Rick Ackerman
RickAckerman.com
If you’re feeling depressed because your retirement fund has been cut in half by the Covid-19 avalanche on Wall Street, take heart because you may have a good chance to get it back. Yeah, I know, I wrote here only last week that the bear market would stretch on for years, bankrupting us all and ushering in the Second Great Depression. But watching the spectacular collapse of Boeing shares has made me more of an optimist. The stock has plummeted from $350 to $129 in a little more than a month, wiping out more than $150 billion of capitalization. It is the swiftness of Boeing’s fall that I find most encouraging, since this could have happened only if the stock’s canny institutional sponsors wanted it to happen. Why on earth would they? Simply because they are quite confident they eventually will recoup their investments — and perhaps even a little something more for their pain and trouble.