Current Status: It’s Complicated

In mid-October, I made some remarks about the endless frustration for investors in 2015…

It’s an old saw that Mr. Market exists in order to frustrate the maximum amount of people, most of the time. I think Ben Graham said that first, like 80 years ago. If confounding the crowd is his job, then Mr. Market should be getting a raise and a bonus for this year.


Over the last month, it’s been more of the same.

Some smart stuff this morning from Jeff Saut at Ray Jay (emphasis mine):

“Reciprocal: related to each other in such a way that one completes the other or is the equal of the other.” . . . Webster’s Dictionary

“The word for today is ‘reciprocal'” is a phrase from a TV show from my youth. And today’s word is “reciprocal,” because yesterday represented a Reciprocal Rally to last Friday’s Fade. Indeed, Friday’s Dow Dump was a little over 200 points, while yesterday’s yippee yahoo was a little over 200 points as Mr. Market’s 2015 manic depressive behavior continued on the Street of Dreams. To be sure, for most of this year if you haven’t liked the direction of the equity markets, all you have had to do is wait a few sessions. And that is why there has been tremendous point movement this year without much upside, or downside, progress. Of course, as usual, my phone lit up with the media’s questioning, “What does today’s action tell us about the stock market?” My response was, “Well, it tells me that nothing has really changed.

What might change this unchanged situation?

Surely not the rate hike that everyone already expects. I guess it won’t be geopolitical, as the Dow Jones reacted to the terror attacks and amped up prospects for a ground war in Syria with a 200-point rally.

So what then?

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here:

Please see disclosures here.

What's been said:

Discussions found on the web
  1. w88 commented on Sep 20

    … [Trackback]

    […] Information on that Topic: […]

  2. Bitcoin Era Review commented on Sep 22

    … [Trackback]

    […] Find More here on that Topic: […]

  3. immediate edge reviews commented on Oct 01

    … [Trackback]

    […] Info on that Topic: […]

  4. orangeville real estate agents commented on Oct 16

    … [Trackback]

    […] Read More on to that Topic: […]

  5. commented on Oct 19

    … [Trackback]

    […] Read More Info here on that Topic: […]

  6. mơ thấy thầy giáo commented on Nov 12

    … [Trackback]

    […] Read More to that Topic: […]

  7. regression testing meaning commented on Dec 01

    … [Trackback]

    […] Find More Info here to that Topic: […]

  8. rbc online banking commented on Jan 03

    … [Trackback]

    […] Find More Information here to that Topic: […]

  9. tangerine online signin commented on Jan 11

    … [Trackback]

    […] Read More on that Topic: […]

  10. online banking bmo commented on Jan 13

    … [Trackback]

    […] Find More Info here to that Topic: […]

  11. Software testing company commented on Jan 15

    … [Trackback]

    […] Information to that Topic: […]

  12. Philips 42PFL5907 manuals commented on Jan 19

    … [Trackback]

    […] Read More on on that Topic: […]

  13. Philips 328E8QSW9/93 manuals commented on Jan 19

    … [Trackback]

    […] Find More on that Topic: […]