Experts are warning of a more than likely second wave of infections by Covid-19 once the summer is over. Looking at how our economy has looked after the confinement, and assuming that this situation is going to repeat itself, I am going to list a series of lessons that investors should have learned to face the last semester of the year with better guarantees for our finances.
Avoid compulsive shopping. If anything has worked well in Spain, it has been the logistics and distribution sector. There has been no shortage in supermarkets and we have been able to buy all the products we needed. You have to act calmly and plan your purchases well to save money and avoid throwing out expired products.
Maintain investments in funds. Volatility will continue to be a reality in our day to day. Except in urgent need, it is best not to leave our investments influenced by negative news that can be repeated. If they affect you, check your risk profile to adjust your portfolio but never move the money to the deposits because you will have thrown your investment objective overboard after not a few efforts.
Take advantage of time to improve financial culture. The digitization It allows you to search for funds, compare costs, analyze returns … In this way you will learn to be in control of your investments.
Choose active management. Good active managers look for opportunities in the markets beyond the indices. Trust them because they are professionals and they know better than anyone where to find profitability in market moments like the ones we are experiencing.
Think about retirement. If you make contributions in the coming months and don't wait until December 31, it will cost you less effort and you will have more possibilities of reaching your retirement goals.
As for the rulers, they must also take into account other lessons that this first pandemic leaves us:
More planning and more positive messages. Uncertainty and negativity cause anxiety in the markets. This time they shouldn't wait for events to take action because good planning stimulates the economy. Getting ahead is going to be essential.
Improve Administration. Streamlining ERTE payments is essential because almost 2 million Spaniards are subject to a temporary employment regulation file, many of them have suffered delays in collecting their wages and others have not received. The direct consequence, in addition to the economic suffering of not making ends meet, is the sharp reduction in consumption.
Stimulate the productive sectors from the first moment. Tourism, Automotive and Consumer Affairs have suffered like never before. Working in this line will minimize company closings, multinational exits and increased unemployment.
Reaching political agreements. Beyond the differences, we all have to shoulder our shoulders because the reconstruction will take years. A great pact of State will generate confidence in national and foreign investors and will boost the economy.
There are many more lessons and advice, but I consider these the most necessary for our economy. Obviously, everything will continue to be subject to the health response that we can give to a new infection, but taking them into account will be the best for our recovery.