US Markets Off 5%; 10 Year @ 1.97%

The Dow was off 500 points, S&P down 60 points, and the Nasdaq down almost 150 points.

Quite astonishing to see the US 10 year bond with a one handle. Kudos to David Rosenberg, who wins his bet with Mark Faber over the below 2% yield.

As noted August 1, I have limited exposure to equities — mostly value indices, some managed funds that can run up heavy cash positions. Our tactical portfolio flipped form 100% stocks in June to 50/50 stock/bonds in July to 100% bonds in August.

All told, not a bad day to be a bear . . .


Lightening Up on Small Caps, Emerging Markets (August 1st, 2011)

There’s Something Happening Here . . . (August 2nd, 2011)

Sell the Bounce (August 3rd, 2011)

Man the lifeboats: This is not a drill! (August 7th, 2011)

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