Chart Of The Day: Buy-The-Dip’s Existential Crisis

Submitted for your (dis)approval.

Behold: Evidence that the ubiquitous “BTFD” mean reversion strategy (which in the post-crisis world, as been enshrined as gospel) is about to face an existential crisis, both from reduced central bank liquidity flow and from the end of the EM “great accumulation”:

HeadingDown

(BofAML)

 

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