Painful Week for Stock Investors as Sentiment Slides
Oct 27, 2023
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“Read all the time. Don’t just do it because you’re curious about something, read actively.” ~ Byron Wien (1933-2023)
Good evening,
Fundstrat’s Head of Research Tom Lee opened this week’s internal research huddle with a blunt assessment. “The markets were just bleeding every day,” he acknowledged. In his view, some of this had to do with tax-loss harvesting on the part of mutual funds, which mostly end their tax years on October 31.
“There are all these funds that have incurred huge losses,” he observed, and they’re selling now for tax purposes – to use ...