The Dow was off 500 points, S&P down 60 points, and the Nasdaq down almost 150 points.
Quite astonishing to see the US 10 year bond with a one handle. Kudos to David Rosenberg, who wins his bet with Mark Faber over the below 2% yield.
As noted August 1, I have limited exposure to equities — mostly value indices, some managed funds that can run up heavy cash positions. Our tactical portfolio flipped form 100% stocks in June to 50/50 stock/bonds in July to 100% bonds in August.
All told, not a bad day to be a bear . . .
Lightening Up on Small Caps, Emerging Markets (August 1st, 2011)
There’s Something Happening Here . . . (August 2nd, 2011)
Sell the Bounce (August 3rd, 2011)
Man the lifeboats: This is not a drill! (August 7th, 2011)
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.