Our modus operandi here at TOE is to discuss the merits of investing in individual companies and commodities. Since bonds are the playground for institutional investors, we discuss opportunities on a macro scale and focus on ETFs rather than individual bonds. In the last few weeks, we have written more about the equity markets in general, than particular stocks. Subscribers might want to refresh their memories on what we had to say by reviewing these articles, Melt-ups Always Looks Easy After the Fact, Is the VIX Quietly Telling Us Something or Is It a Head Fake?, Be It a Top or Correction the Sell-Off Will Be Vicious, and When Will We See the Next Correction? | How Will We Recognize It In Real Time?
This is because we believed that the equity markets were in a bit of a blow-off phase and that whenever a selloff arrived is would probably be indiscriminate. By that we mean, that prices for both the good and the bad, the cheap and the expensive would probably fall. As a result, we chose to be patient, slow down the initiation of new positions to wait for that time to come.
