How the coronavirus crisis differs from other global downturns

MARK Twain supposedly said: "History doesn't repeat but rather it rhymes."

While there's no evidence whether the respected writer did or did not say this, the logic behind the statement stands. History tends to move in cycles - and often the cycles seem very similar.

It's for this reason that the phrase "this time it's different" is often met with scepticism from financial market professionals. The same scenarios play out time and time again in markets. It usually isn't different.