There day to day volatility reinforces our decision to pull in the horns when we downgraded our market view and took offense off the field. There is absolutely no edge currently in the market as it rises and falls on unpredictable Coronavirus news items multiple times a day. I have learned over my career that when I try to guess and don’t go by the data – I usually guess wrong, so it is best to just sit this one out.
I was sitting in my partner’s office yesterday and we were discussing how sometimes the best action is not taking one. We were thinking that if you get negative here, a Fed statement or Chinese comment on the Coronavirus could rip your face off with a spike. If you get positive here, you could walk into totally unpredictable news on how it is spreading and what that could mean to the global economy. Both happened over the past two days, and both were totally unpredictable and random.
What we are watching today:
- Real news on how this thing is spreading outside of China
- Today is Brexit day, and it is amazing to me how this is not a news focus
- President Trump is likely to be acquitted today, which should send the media into a tizzy
- My Superbowl pool numbers are 8 & 8, swell.
Past performance is not a guarantee of future results. Index returns are unmanaged and do not reflect the deduction of any fees or expenses.
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