Who is going to buy these goddamn stocks?
“In fact, the opposite happened during February’s correction.”
Gandalf. Need more Gandalf.
To fear them or not to fear them?
There are lingering questions.
This is a particularly touchy subject under normal circumstances and this week is not a week that falls in the “normal circumstances” category, which means this debate is even more contentious than it usually is.
“Come play with us Danny”…
Those are the dominoes. Don’t tip one.
“These are the things that fund managers are expected to discuss, and they are often the right things to discuss. But if you have no justifiable idea whether the process itself should or will lead to outperformance, what the hell are you actually measuring?”
It’s all about “loops” and “spirals” these days.
According to the latest read on this, the potential for an ETP rebalance to cause problems is still near record highs.
…it’s fair to ask if maybe the CTA crowd had a bad week. Because long Treasurys and short USD wasn’t exactly how one would have wanted to be positioned ahead of the “no apocalypse” risk rally that saw 10Y yields rip 18bps higher off the previous Friday’s lows while the dollar put in one of its best five-day stretches of 2017.
“The CTA performance index has ripped in the back half of August after 10s rallied below 2.25%,” Deutsche goes on to write, adding that their “rolling 1m beta analysis shows that CTAs have gotten very long the market.”