A New York Post World

A favorite comic of mine does a bit where he describes the New York Post (paraphrasing here)  as” if someone read the news from a real paper and then tried to text it to you, accuracy is not important as long as it is short”. It occurred to me that this characterization could  also be made about the current state of the capital markets where news bites drive prices. In addition to these snippets of” news”, add high-speed algorithmically driven trading, and a global central bank environment where no policy is discounted as too extreme. The result for investors is that we are increasingly vulnerable to a severe market dislocation.