This year has not been kind to most asset classes. US stocks are negative for the year, international stocks (particularly in emerging markets) have been clobbered, commodities are down, and even bonds have been unable to provide a positive return. Coming on the heels of 2017, one of the best years for all asset classes,…
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From October 1 through October 31 the S&P 500 dropped over 7%. And this came on the heels of a gain of over 9% between the beginning of 2018 and the end of September. Why did this happen? The explanation is quite simple although likely far from satisfactory. As I have written previously, there are…
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