One-day corrections of 3% are always painful, especially so when investors have become so accustomed to low volatility after almost a decade-long bull market. We see the move as most likely a technical sell-off (famous last words) and believe it is probably too early to buy the dip.
“Software is eating the world” is the rather apt slogan adopted by venture capital firm Andreessen-Horowitz. It also helps to explain the creative, cross-industry partnerships that are emerging, in what is fast becoming a digital revolution. But do these partnerships really work?;
History suggests that equities struggle to make gains ahead of US mid-term elections. With anti-trade rhetoric likely to feature in this autumn’s campaign, this time is unlikely to be different. On the other hand, we have also learnt to be prepared for the opposite with President Trump.;
Traditional models suggest that there is a very high chance equities outperform over the long term. But are they overconfident, and should long-term investors adjust their asset allocation accordingly? Let's consider this question from one particular technical angle.;