Investment and portfolio allocation strategy during and after COVID

As long as the COVID crisis is present with a health “ stop and go ” strategy , we should favour a "thematic defensive strategy": investing in countries (Asia) and sectors (technology, pharmaceuticals, etc.) that are resilient to the crisis, but also dynamic. Once the pandemic is over, and even as soon as the end of the pandemic is anticipated, the strategy will have to be changed to one linked to structural changes in the post-COVID economy: digital technology, the environment, but also money and bubbles. The role of money is demonstrated by the market reaction to positive announcements on the vaccine.