In the early 1990s, I was privileged to work in a department at Prudential-Bache Securities and was partially responsible for marketing one of Marty Zweig’s funds to the retail network. In every meeting, at some point Marty would remind investors to “not fight the Fed” and “not fight the tape.” He was famous for these two market phrases and suggested there were times where you could battle one, but certainly not both. The potential for an even more significant trade dispute with China, increased tensions with Iran, and the fear of recession from the weakening economic data has many ignoring this historical market wisdom. We should not.
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