Well, market volatility is back! It’s been a couple years, but it’s back! Brendan said in our meeting this morning “this is the only industry where things go on sale, and everyone runs for the exit.” That’s not the first time I’ve heard that line, but it really hits home. Markets were so overbought just last week, and everyone wanted in. Now things are cheaper than they were, and clients want out? That’s like going to Macy’s and saying “Hi, I’d like to pay 110% for this jacket”, and then coming back a week later, seeing it was on sale for 70% and saying “Oh, no I’d like to pay full price please”. It just makes you scratch your head.
Here’s what I’ve been reading this morning:
‘What Investors Should Be Thinking Right Now’ – Josh Brown – The Reformed Broker
‘This Is The Normal Part’ – Phil Huber – BPs and Pieces
‘Mets, 3B Frazier Agree to 3-Year Deal’ – Anthony DiComo – MLB.com
‘Cutting the Gordian Knot’ – Nick Maggiulli – Of Dollars and Data
‘Disproportionately Important Panic’ – Anthony Isola – A Teachable Moment