One of the enduring quotes someone like me can’t forget — and there are many that have guided the way I invest — comes from the Oracle of Omaha, Warren Buffett — when the US was in the depths of the GFC stock market crash.
I can’t recall his exact words but it was virtually what he said in 2019: "For 240 years it's been a terrible mistake to bet against America, and now is no time to start. American business - and consequently a basket of stocks - is virtually certain to be worth far more in the years ahead."
So when I think about our top 100 companies listed on the ASX, I equate it to a big chunk of quality Australian businesses. In early February, most of those companies were assessed as much more valuable than they are today but the Coronavirus and government responses worldwide have changed all that, for now.