Category: Hiring a Portfolio Manager
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Global Stock and Bond Market Trends 2Q 2018
Yesterday we shared the 2nd Quarter 2018 Global Investment Markets Review, which used a broad range of indexes on performance tables to present the year-to-date progress of world markets. The issue with a table that simply… Read More
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Is this correction and volatility normal?
With perfect hindsight, we now all know that January 26th was the recent price peak in the U.S. stock market. Since then, the S&P 500 has declined about -10% and the Dow Jones Industrial Average… Read More
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The enthusiasm to sell overwhelmed the desire to buy March 19, 2018
The enthusiasm to sell overwhelmed the desire to buy. The S&P 500 stock index closed down -1.42% today. Stocks trended down most of the day and at 2:35pm it was down -2%. As you can… Read More
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Investment management can take many years of cycles and regimes to understand an edge.
It takes at minimum a full market cycle including both bull/bear markets to declare an edge in an investment management track record. But we also have different regimes. For example, each bull market can be different as… Read More
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February Global Market Trends
After a very positive January for U.S. and international stocks, in February it only took 10 days for the S&P 500 to decline -12% intraday and a -10% drawdown based on closing price. Yet, February… Read More
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VIX Trends Up 9th Biggest 1-day Move
About a week after a hedge fund manager who is popular with the media but has a poor track record of managing risk said “please stop talking about the low VIX”, it gains 44.4% in a… Read More
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Investors feel and do the wrong thing at the wrong time…
Many studies show that investors have poor results over the long haul including both bull and bear markets. For example, DALBAR has been conducting their annual Quantitative Analysis Of Investor Behavior study for 22 years now. DALBAR’s Quantitative… Read More
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Systems trading is ultimately discretionary. The manager still has to decide how much risk to accept, which markets to play, and how aggressively to increase and decrease the trading base as a function of equity change. These decisions are quite important – often more important than trade timing.”
–Ed Seykota in Market Wizards: Interviews with Top Traders By Jack D. Schwager Read More
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Extreme Fear is Now Driving Markets
On October 27th I wrote in Fear and Greed is Shifting and Models Don’t Avoid the Feelings that: The CNN Fear & Greed Index shows investor fear and greed shifted to Extreme Fear a month ago as the popular U.S. stock indexes dropped… Read More