Why are people resistant to this argument? We. Fucked. Up. It's maybe not productive to argue about recriminations at this point, but if so it's even worse to try to excuse it away or pretend that it didn't happen. It was a terrible mistake, and right now it looks like lots of people are going to die because of it.
Shorting the market in January and February would've been more of a bet on government inaction than a bet on any inherent characteristics of the virus.
Many predicted large epidemics in multiple countries, but the CDC/FDA testing fiasco, or the lackluster response in EU wasn't easy to predict.
I agree with OP that "everyone should stop pretending that 'no one could have known'". The probability of having a large epidemic in each country was significant, definitely above 2%. That number alone would've warranted ramping up production of test kits and sanitary supplies, building fever clinics, doing emergency drills, and setting up some data sharing infrastructure between healthcare providers. Most developed countries didn't do any of that.
regardless, moves made by a small private investor don't really matter in the grand scheme of things. just don't panic sell.
The “Pandemic” designation wasn’t appropriate back then because it just wasn’t a pandemic at that time. They very clearly said it was on its way to becoming one.
I’m starting to suspect this griping about the WHO is somehow motivated. People tend not to be this willfully stupid unless politics are involved.
(Even though it was obvious to anyone with half a brain in January that this thing was going to spread and become a global problem in no time... and that the WHO said as much, too.)