July 2018

Dave Canal
July 17, 2018

The active manager cannot control his own destiny in times of high market correlation, but when correlation is a normal 26% - or lower - he can “hammer” the market.  Correlation is the degree that different securities move together in tandem.  The norm of 26% goes back close to a hundred years.  Sudden increases in correlation are always...

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It isn’t as important to buy as cheap as possible as it is to buy at the right time.

– Jesse Livermore