Conflicting signals out of yesterday’s market data. While low beta sectors such as utilities and healthcare spiked higher we saw strong money flows out of the S&P and into higher beta names such as the Nasdaq 100 and Chinese Index Fund FXI. My guess is investors are continuing the momentum trade into tech and emerging markets while selling S&P against it.
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.