Market review 23.08.20

Less is more

Hello everyone,

Today’s post will be shorter, but the message is essential.

A recap of recent quarters

In the ten months starting Oct 1st, the Total World Stock ETF (ticker VT) returned an exceptional 29% with dividends.

Commercial hedgers (‘smart money’) had become record-long equities last Sept and again this May. From May to July, we saw a growing num…