Don’t let that 1.75% decline in the Dow fool you – the underlying internals of this sell-off are extraordinarily destructive. A full reversal of the beta trade appears to be in effect. As we mentioned a few weeks back, the momentum junkys are running for cover and smart money investors are reaching for downside protection:
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.
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