May 13, 2011


Location Date: 
May 13, 2011
Content: 

It is Friday the 13th so of course the market is going to do something nasty – at the time of this post it is down over 1% across the board – yes Scarlett, the market can go down. It feels like it is raining cats and dogs…. Our last post featured a great investor with poor timing but maybe we are finally at what could be at least considered a short term top. The following recent article from Forbes does a nice job of summarizing the big picture macro headwinds – everyone knows these, right, so they must be fully priced in? Maybe or maybe not – at Arrow we are certainly not believers in the efficient market hypothesis in any way. We are so overdue for a decent correction that most people have thrown in the towel on shorting or holding cash. The elevator looks pretty full and it is on the 59th floor. Have a great weekend. 
 

Jim McGovern