It’s important I keep you all informed at times of stress like this. I know many of you will be worried. 33 years in this business has armed me with the kind of experience that will certainly help us all once we get through this volatile period.
I have said it would continue to be a rocky road, right up until the end of the month on 31st. Then I believe the markets will settle as the next quarter starts. I believed that there had to be many forced sellers in the market, now I’m starting to see the proof of that hunch.
hedge fund wipe out
We are all investors for the long term. We inhabit markets though with many gamblers. Institutions that borrow huge amounts, combine it with further huge amounts and then let it ride to the end of the quarter when they are forced to settle up. Winning often, but when events turn against them potentially losing everything. Here’s an excerpt from a note from a knowledgeable expert that I have followed for the last decade:
Continue reading “The world is all in the same boat”