The SARS Comparisons Don’t Work But It’s All Wall Street Has Got
- China economy and global markets radically different from 2003
- Strategists scour history books despite big structural shifts
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Money managers love to say past performance is no sure-guide to the future, but there are plenty who’d argue it’s better than no guidance at all.
Likewise, Wall Street is rushing to project the fallout from the coronavirus by drawing on the history of the SARS outbreak in 2003 -- in full knowledge that the past is no prologue.