some logic >>
not my writing "But"
Many funds (both mutual and hedge) have performed TERRIBLY this year. With numerous large financial institutions’ fiscal years ending October 31 (Fidelity, Vanguard, etc.) and November 15th serving as the date by which large investors need to alert hedge funds of their intentions to withdraw money, fund managers were under TREMENDOUS pressure to game performance going into month-end and mid-November.
In this context, the Timiraos article published on October 21, 2022, was the perfect excuse to ramp stocks higher based on the ignorant and deceptive notion that the Fed was about to pivot.
THAT is why stocks have been rallying.
Not because the macro situation has improved (it hasn’t) Not because the Fed or Fed officials have hinted at a pivot (they haven’t). Not because the inflation data is improving (it isn’t). But because fund managers were desperate for any excuse to push stocks higher, and a supposed Fed conduit in the financial media gave them that excuse.
Full stop.
Disaster is Only a Keystroke Away!
