I hardly expected the head of the IMF, the Chancellor of the Exchequer, and the Chairman of Credit Suisse to foment volatility with negative market views. The sanguinity at the closing sessions of Davos in the midst of the worst January in recent and not so recent memory is a bit surprising. I've also thought of the market a bit like I think of my wife: it doesn't matter how justified I think her anger or depression may be; the fact that she is angry or depressed is a problem in and of itself. While my trading style recoils from flat, boring markets, gut-wrenching volatility isn't congenial to investment, economic planning, and consumer sentiment. My view: more of the same in the quarter ahead.
The Establishment Doing What It Does Best: Davos Wrapup
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