What Investors Got Wrong About the Pfizer Vaccine News

The market is treating it like an impossible-to-predict black swan event—but it’s not

Rob Walker
Marker
Published in
3 min readNov 13, 2020

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Photo: Mondadori Portfolio/Getty Images

When news broke early this week that Pfizer’s Covid-19 vaccine trials were showing surprisingly strong results — 90% effectiveness preventing the virus in preliminary findings — some investors evidently saw it as a total…

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