Sell in May? (and go away).
An age old market and trading cliche which I have discussed here before. Perhaps the uncertainties that are piling up are finally coming home to roost:
Certainly a good deal of things to keep us on our toes in the world of managing money and getting reasonable risk-adjusted returns.
Risks are high and rising and it is a time to think defensively when it comes to portfolio management (something that we have been doing since last May at High Rock):
Higher than normal cash holdings.
Lighter than normal weight in risk assets.
More government bonds.
Volatility will bring opportunities to those who are patient.
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Scott Tomenson,CIM Managing Partner, Chief Investment Strategist