When common sense fails to explain market performance

Prohost Letter #425
When Common Sense Fails to Explain the Market Performance

It is not unusual for the stock market to be in a selloff mood for a few days. However, in the last couple of months, the market unexpectedly plunged deep into the ocean of the unknown. The exaggerated volatility was nerve-wracking for professional analysts. This is especially true for candid analysts who base their speculations on defined and embraced criteria. Fair professional analysts have been unable to pinpoint any of the essential bearish criteria in order to provide a . . .

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