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Wednesday, 27 Feb 2019
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Going Neutral

The market has come up 13.3% in a straight line since December 24. Yesterday we got our first significant slap in the face with the market down 58 points and down almost 80 points at worst.

The market always looks around after days like yesterday and finds some reason for the market's movements, human investors simply won’t rest until they have found an explanation for absolutely everything that happens in the stock market and the newswires, media, commentators, TV anchors always manage to oblige.

But having sat on the institutional desks at broking houses, Henry and I can tell you, that some days all that happens is some big institution somewhere sells a lot of stock for their reasons, reasons unknown to the world (like losing some funds under management

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