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First Trust Exchange-Traded Fund III Horizon Managed Volatility Domestic
Momentum in markets is very powerful. Markets can remain irrational longer than you can remain solvent fighting them.
We are not fighting it and going with the flow. Our proprietary indicators have not turned negative yet so we soldier on - a little less in but still in.
We agree with the analysts and pundits that there is excess speculation, leverage and fraud but we also have historically easy monetary and fiscal policy.