SAMG - Perritt Capital Management Manager Commentary Q1 2018
JEKYLL and HYDE QUARTER
The first quarter of 2018 was remarkable in several ways. We saw record highs in equity markets, but also a fierce resurgence in volatility. To some degree, the first quarter was a Jekyll and Hyde type of period. The first half of the quarter was characterized by a low volatility, momentum driven, continuation of the themes that carried 2017. While the second half of the quarter brought in a new regime, with explosive volatility, a refocusing of investors attention on fundamentals, and new leadership in the market. The rest of our