Volatility has clearly taken the markets up and down in a big way the last couple days. Big ups and downs may continue another week or two. Many times long stretches of low volatility, like we had last year, are followed with periods heightened volatility. The quickness of the moves is quite something to watch.
The world economy is doing very well and profits are at an all time high. Due to this fact I think the market will recover and make new highs this year.
Our managed accounts have 20 to 30 % cash at the moment, so we have a cushion and available funds to invest as the market begins to behave normally.
Stephen
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