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Look Out Below, I Don’t Know Why Edition

Posted By Barry Ritholtz On October 23, 2013 @ 7:39 am In Markets | Comments Disabled

10.23.13 futes [1]

 

A short note as I am running late this AM.

Markets are looking soft, and for more or less for no good reason. Perhaps its because they have been on a tear lately, and need to digest gains. Or maybe its for some completely other reason.

As I noted in the headline, I don’t know.

Investors would be better off if they stop trying to find a rational ause and effect for what oftentimes  is an unpredictable action in market prices — “random walk” in the parlance of this year’s Nobel winner.

That phrase “I don’t know” is another that should ente rmore investor’s lexicon as well.

Be back shortly…

 


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