The Usual Suspects And A Theory On Global Macro Funds

Here it is Tuesday, nearly a week on from the worst drawdown for U.S. equities since February, and we're all still playing the victim. Selloffs following record highs should probably be viewed as some semblance of cathartic, but that's not the way people think about things in the post-crisis world. Drawdowns are generally seen as offensive these days. Selloffs are an affront to decorum; a sign that something went "wrong" and that we, the investing public, deserve to know who was responsible. A