[JoshuaDavid]

> Did anyone anticipate it enough to put their money where their mouth was? A fortune, and a major service to humanity, could have been made by a private individuals stockpiling PPE in vast quantities.

The response to this pandemic has actually worried me quite a lot on this front, because it seems likely now that anyone who stockpiled PPE at pre-pandemic prices and tries to resell during the pandemic at a price high enough to justify their initial investment will be accused of price gouging and possibly have their stockpile seized.

Which has the effect that nobody has an incentive to build a reserve of things that will be useful in a future crisis, even if that crisis is foreseeable.

So yeah, it's easy enough to say "I think there's at least a 5% chance per year of an event which results in at least 10 million people who will want to buy a portable generator" (which is 10x the amount normally sold in a year). I genuinely do think that's a true statement, and it would imply that the number of generators currently being produced would need to be at least 50% higher to meet demand averaged across all times rather than typical times, which is a pretty big difference in a pretty big market. Normally when you think you know something the market doesn't, you can bet against the market by investing in whatever the market is undervaluing, and if you're right you make money. In this case, I'm not sure how you would go about doing that. Investing in companies making generators doesn't increase production. Buying generators and leaving them in a warehouse risks your stockpile being seized in the case where you were right about the risk. I'm honestly not sure how I would go about putting my money where my mouth is here.

[roywiggins]

Even without the prospect of seizure, it's not free to maintain a stockpile, or maintain a short. So you're also making a bet that it will happen sooner rather than later- if it takes 100 years, your equipment will be rusted or obsolete and you'll probably be dead by then. And you'll have paid every year to maintain it, money you could have put into a slightly less risky and more liquid investment that would have long since paid out.

All the day-to-day costs and risks can just totally swamp the potential upside, even before the regulatory risk of seizure or being forced to sell your stockpile at pre-crisis prices. Price-gouging laws are already on the books, so it's not like it would be that much of a surprise.