If you haven’t yet read Matthew Phillips’s fascinating tale of HFT and why the robots are now losing, I highly recommend it. Buried in the story is this reminder of what can only be described as the worst trading error of all time… last August, Knight Capital crippled itself. Traders have taken to calling the…

The market is exhausted. The pops have no verve, no… je ne sais quoi. You learn to read the tape over years and decades, not months and quarters. Everyone who can do it sees this exhaustion, even without confirming data. Rallies are being dumped on and signs of “distribution” are everywhere. Let’s look at the…

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Chart via BlackRock:   Interestingly, despite rate fluctuation, there are no decades with a negative return although in real terms (inflation adjusted), that’s hardly true. As rates rise, bonds fall in price and total returns typically drop as well. In my lifetime this has not happened, but I believe it will. Source: BlackRock

361 Capital portfolio manager, Blaine Rollins, CFA, previously manager of the Janus Fund, writes a weekly update looking back on major moves, macro-trends and economic data points. The 361 Capital Weekly Research Briefing summarizes the latest market news along with some interesting facts and a touch of humor. 361 Capital is a provider of alternative…