A short note as I am running late this AM.
Markets are looking soft, and for more or less for no good reason. Perhaps its because they have been on a tear lately, and need to digest gains. Or maybe its for some completely other reason.
As I noted in the headline, I don’t know.
Investors would be better off if they stop trying to find a rational ause and effect for what oftentimes is an unpredictable action in market prices — “random walk” in the parlance of this year’s Nobel winner.
That phrase “I don’t know” is another that should ente rmore investor’s lexicon as well.
Be back shortly…