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Are Markets Coming To Terms With The Notion Of The Punch-Bowl Running Dry?

Are Markets Coming To Terms With The Notion Of The Punch-Bowl Running Dry?

After a number of years of increasingly compressed volatility and an endless supply of greater fools willing to buy any asset price dip and sell any asset vol spike, something changed last week.

However, as former fund manager Richard Breslow notes, while assets are on the move, there's no need to be scared... yet.



Via Bloomberg,

One thing I’m pretty sure we shouldn’t be doing is taking the recent market moves and trying to compare the relative attractiveness of various assets based on some recalculated dividend yield.



We didn’t get here following classical value-investing techniques nor will the path out follow such a comforting script.

Continued: https://www.zerohedge.com/news/2018-02-05/are-markets-coming-terms-notion-punch-bowl-running-dry