Most investors seem to be focusing on the health impacts of COVID‐19 in a binary way: either the infected individual recovers (and lives) or they do not recover (are deceased). Although rarely discussed by investors, there is a growing body of research by medical experts that suggests a significant portion of COVID‐19 survivors face longer‐term, often severe, health problems. These issues are known as “long COVID”. This reports seeks to expand on who has acknowledged long COVID, the research findings, some common long COVID health issues, and what it might mean for human capital, the economy, and the markets.