Welcome to the 3rd Quarter

| October 05, 2018
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I thought I was done with this theme but then yesterday happened.

We have just experienced the largest 2-day move in the volatility index (VIX) in over 5 years.

$89 billion

That’s how much the collective net worth of the world’s wealthiest lost Thursday after a rough day for global stocks, according to the Bloomberg Billionaires Index. It was the biggest one-day drop in six months, with founders of luxury goods companies and some of the U.S. biggest tech CEOs taking hits. Don’t even get me started on the nonsense coming from Elon Musk’s twitter feed.

$90 Billion

There were exceptions, of course. Berkshire Hathaway’s chairman and CEO Warren Buffett, the world’s third-richest person, saw his money pot rise $1.2 billion to $90 billion on Thursday.

However, as you can see in our Chart of the Day, when the 3rd quarter is up over 7% the markets typically experience positive returns in the subsequent quarter with an average return of 5.9%.

A reminder: past performance is not indicative of future results.

 

Stay Tuned, Disciplined & Patient! {TJM}

The Investor & Character Equation (ICE) | S + R = O

 

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