NPSNY - Picking Through The Sell-Off - The Idea Guide
by Daniel Shvartsman
The S&P 500 is down 6% just this week. Stretch it to the beginning of December and we're down over 10%, and back to October 1 and we're down over 15%.
That recency bias makes it feel like we're entering the somewhat irrational stage of the sell-off. The impulse hit me yesterday, when one of my stocks - a good BDC, if the oxymoron doesn't hurt too much - sold off 10% in three days. This is a good stock, well run, and their newsflow has all been positive, I thought?
But