CHART OF THE DAY: A 2018 Crash Chart

There’s a lot of crashing going on out there in 2018: 

1. Crypto
2. EM Currencies
3. Levered long EM Debt and Equity portfolios
4. China’s Stock Market (Shanghai Composite Index)
5. Philippines Stock Market
6. European Bank Stocks 

Fortunately, due to our rate of change crystal balls, we haven’t had you long of any of that stuff. No matter how much you think you understand “money”, never, ever, forget Rule #1 of Investing: Don’t (crash and) Lose Money. 

While there will be a time when I am long of some or all of those 6 Things That Are Crashing, that time will not be today. The causal factors that have driven cross asset class volatility straight up off the all-time lows are trivial at this point.