Strategy Note: March 18, 2024

WOTE 60/40, Long/Short, Special Ops. Know thyself.

Discussion

I opened last week’s strategy note with: “I’m fully aware that capitulating on a tactical pullback thesis tends to occur at a peak.”

That is precisely what happened. I tend to be very quick to change my mind (though it’s a delicate balance being patient and cutting losses), so changing positioning at precisely the wrong time comes with the territory. Getting wedded to the change when the market immediately moves against you is the problem. So…today I adjusted back upon receipt of new information: