>>There has been a major shift in sentiment over the past several days, with some readings showing multi-year or even multi-decade extremes. The biggest reason for this isnt the uncertainties we know about (slowing growth, Ebola, etc), its simply the fact that investors are not used to it. As we had ample opportunity to discuss this spring and summer, volatility across asset classes had rarely if ever been so placid. So when we do finally see some moderate swings in prices, it seems outrageous. In the bigger context of market history, the decline over the past several weeks barely registers. Context matters.
Posted on: Thu, 16 Oct 2014 16:42:08 +0000
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