"The market correction over the past two-and-a-half weeks will go down as the fastest in history — no other period has experienced a greater than 20 per cent drop in such a short period of time.
We’re now in full panic mode with stocks being sold at steep discounts, banks blowing out client positions to cover margin shortfalls, ETFs offloading illiquid underlying positions and a plethora of quant funds all using the same trading algos that are flashing DEFCON 1.
The fact of the matter is that corrections happen, but the magnitude and speed of this one really makes one question the near-term outlook from here. That said, there are some important lessons to learn from all this that will help provide some longer-term perspective, something severely lacking amid the sensational headlines.
Reposted from the Financial Post
** I have prepared this commentary to give you my thoughts on various investment alternatives and considerations which may be relevant to your portfolio. This commentary reflects my opinions alone, and may not reflect the views of National Bank Financial Group. In expressing these opinions, I bring my best judgment and professional experience from the perspective of someone who surveys a broad range of investments. Therefore, this report should be viewed as a reflection of my informed opinions rather than analyses produced by the Research Department of National Bank Financial **