I could be wrong on two counts, but here they both go: one, that Covid-19 gets worse over the next month or two, and second, that deep discounts on stocks will be good purchases when viewed in the medium term. An example from the stocks I've revealed publicly: Dine Brands (DIN) is a restaurant chain, and today California is closing all restaurants indefinitely. Closing them for an unknown length of time means they lose an unknown amount of revenue. So I expect a buying opportunity, but I'm not sure when it will occur precisely.
A stock that drops from $100/ to $30 has lost -70% of it's value. But it now operates from that new reference point, of $30. If it recovers, it doesn't gain +70%.... it multiplies by 3.3x ($30 x $3.3 = $100). Being out of a stock that falls, and then buying it, does have a risk of bankruptcy - it keeps falling, and you lose the entire investment. So I've spread my money over dozens of stocks, not just a few.