Fund managers are being driven up the wall by the yo-yoing of the stock market. It is moving by sizable percentages each week, running up then stepping down before jumping up again.
A strategy of investing based on fundamentals can look naïve; fund managers can look stupid buying stocks that may be 10% or even 20% lower within days. Many have pulled back and decided that it is safer...
The US dollar is close to peaking and the risks now seem to be on the downside.
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