Investment Insights are written by Angeles' CIO Michael Rosen
Michael has more than 30 years experience as an institutional portfolio manager, investment strategist, trader and academic.
I’m interpreting the spike down last week and the strong rebound in the past few days as bullish. See the chart below from Friday’s close (courtesy of our friends at Merrill).
We have held our positions in our model portfolios, neither panicking during the deluge nor trying to catch the bottom of this short-term move. Remember that much of what happens hour-to-hour, day-to-day, week-to-week, even year-to-year, has (or should have) little practical impact on long-term investors. Let’s make sure we have the cash to pay the bills and cover reasonable contingencies; after that, we can be largely indifferent to the spasms of the markets.