'Economists make fortune-tellers look good': This investment manager thinks the US is on course for a V-shaped recovery as markets 'have already priced in' a 2nd wave of coronavirus

Reuters

• Ryan Payne, president of Payne Capital, told Busines Insider that the US would face a V-shaped recovery even if a second wave of COVID-19 persists. 
• Key US states such as Arizona, California, and Florida saw rises in COVID-19 cases. 
• Payne said markets had "already priced in" the impact of 2nd wave of coronavirus.
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The US is on course to face a V-shaped recovery, as markets have "already priced in" the risks of a second wave of coronavirus, an investment manager said. 

Ryan Payne, president of Payne Capital Management, said: "If you look at the Jobs report of last week, it identifies how quickly the economy can come back online and secondly how dire the economists have been."

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• Economists forecast that an additional 1.6 million Americans filed for unemployment last week
• Renowned strategist Tom Lee nailed the market's 40% surge from its worst-ever crash. Here are 17 clobbered stocks he recommends for superior returns as the recovery gains steam.

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