Humans are generally not constructed to deal well with uncertainty. Investors need predictability in key areas such as accounting, regulation, taxation and political whim, to mention a few. While no system is perfect, investors in U.S. based companies enjoy a relatively greater degree of consistency than is the case for many other jurisdictions. The most recent example of regulatory uncertainty comes from China and the recent unpredictable shifts in government policy in a number of key areas.
In addition, investors and everyone else, have to deal with constantly shifting mandates and policies relating to Covid-19. While there appears to be a core group of anti-vaxxers, most of us are generally willing to do what is recommended, but are having to deal with shifting requirements and politically driven agendas.
It would be helpful if our leaders strove to provide consistent guidance.
All comments and suggestions are welcome.
Walter J. Kirchberger, CFA®
