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Black Swan Takes Wing
February 23, 2011 | 0 comment
However, the weakness isn’t as material as it was yesterday, but then again, to have two or three or even four down days in a row…is just about unheard of in today’s markets.
But this is the case, and it is a case that has more merit, given concerns about rising crude-oil and gasoline prices and the ability of just such price gains to slow the world economy.
This is the “black swan” that author and hedge-fund manager Nassim Taleb made famous with his 2007 book The Black Swan, in which he noted investors never planned for “tail risk.” It’s a great read, and we heartily endorse it.
Richard Rhodes is the founder of Rhodes Capital Management, Rhodes Trading Group, and The Rhodes Report a macroeconomic and stock trading newsletter. The Rhodes Report seeks an absolute return through a long short strategy that trades equities, ETFs, and inverse ETFs that offer the greatest potential for positive portfolio returns in both bull and bear markets.
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