A Date That Will Live In Infamy

I've stolen that sentence from Franklin D. Roosevelt to commemorate today's date, October 19th. To those who have been long time participants in the stock markets, that day in 1987 was the single most traumatic experience in their lives, even as ensuing selloffs in the years since have arguably been as dramatic. At that time … Continue reading A Date That Will Live In Infamy

The Bounce

As has happened numerous times in history, the markets mounted a high volatility rally after the approximately 10 sigma selloff experienced last week.  Panic and euphoria are always lurking in markets and will serve to draw people into their respective manias at the worst times. We have pointed out that there are many signs to … Continue reading The Bounce