Market goes up start of the year, Portfolio managers esp. long only PMs start getting worried they will be left behind. I mean during a bad year like 2022, everyone has a reason "well the index went down". What when say the index end this year + and these PMs end the year -ve. That won't be a good look. This will turn, its like tesla a year ago. Everything going down except Tesla. Then came Sept, and October and then November. That fact that JPow said "Finical conditions are tighter" also doesn't help. Its like the big boys want to inflate the bubble so they can create even more bag holders this year.
Market goes up start of the year, Portfolio managers esp. long only PMs start getting worried they will be left behind. I mean during a bad year like 2022, everyone has a reason "well the index went down". What when say the index end this year + and these PMs end the year -ve. That won't be a good look. This will turn, its like tesla a year ago. Everything going down except Tesla. Then came Sept, and October and then November. That fact that JPow said "Finical conditions are tighter" also doesn't help. Its like the big boys want to inflate the bubble so they can create even more bag holders this year.
They are playing a game of chicken.