Considering the S&P 500 is only 14% off its 2015 peak compared to 57% off its peak in early 2009, this is a stunning number.
Which brings to mind a famous Warren Buffett quote: ” We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.”
Hat tip SoberLook.com
It makes perfectly good sense that investors would become extremely nervous after a deep sell off. Like clockwork this is happening again. Euphoria and the highs, depression at the lows. With sentiment readings like the current set a sharp rebound is usually soon to follow:
Hat tip Ryan Detrick/Charlie Bilello
Zalec, a small town in central Slovenia, is famed locally for the hop farms that surround it in what is known as the “valley of green gold.” Soon, however, according to reporting from the BBC, the town is likely be known for something else: a public beer fountain.
It’s been a rough year so far for equities. Just how rough? Well, with the S&P 500 off 10.5% over the first 28 days of 2016, its the worst start to a year in market history:
And what’s been the biggest drag? Financials. Exactly the opposite of what should be happening in a rising rate(at least as far as the Fed is concerned)environment.
Hat tip Charlie Bilello/Nicole Bullock