Daniel Loeb of Third Point LLC writes in his latest investor letter that increased volatility has turned 2015 into a “haunted house market.” Here’s Loeb: Already, 2015 has been marked by increasing volatility, prompting a banker friend (hat tip to Jimmy L.) to characterize this as a “haunted house market” where a new scary event lurks around each corner. Out of this year’s 25 trading days, 22 have had intra-day moves in the market of more than 1%. Haunted house scares so far this year have included: 1) signs of lower growth across the globe despite falling oil prices; …read more
Source: Business Insider
