The Death Of Equities

From the WSJ – …across the financial markets, a sea change is taking place. Investors are abandoning the time-tested “stocks for the long run” optimism that dominated since the late 1980s. Instead, there is a widening belief that the mess left behind by the housing bubble and financial crisis will be a morass to contend…


Why Do This?

In the past I have written about prediction and the fact that we are absolutely crap at predicting the future. Despite this and despite the ease with which people are held to account for their predictions we still get this sort of stuff.         This graphic tracks the predictions about the price…



I haven’t looked at the VIX in a little while. Below is a chart of the VIX with the Dow overlaid in red so you can see the relationship between extremes of fear and the market wetting itself.The only comment I can make about this is that “fear” seems still to be historically high.