What a market. Almost no pullbacks worthy of the name in 3 months to allow those who got caught with way too much cash, and who want to buy pullbacks, in.
Same problem for shorts who want to cover on better terms.
And those poor institutions in way too much cash....like some hedge funds.
A 2% fee for having clients money in .2% cash??
They know their jobs are on the line and clients will pull out if they continue to underperform so much, so like it or not, they have had to hold their noses and buy.
.2% cash feels really good when everything else is going down but when there is a party...The greed comes out and it's an insult to injury to pay a manager 2% of assets to sit in cash when it feels to a client like "everyone else" is making so much money.
So goes the thinking and the pressure and why the market has refused to give back hardly anything. Just too many left out looking in and jumping on the smallest of pullbcks and stopping them in their tracks.
Well wishes,
Fabian
It's been a fabulous year but never forget the old Wall Street Saying:
It's not the making it that's hard. It's the KEEPING IT.
How true.
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