This historic weakness is well-enshrined in stock market lore and encapsulated in the old chestnut, "Sell Rosh Hashana and buy Yom Kippur."
Triple witching refers to each quarter's simultaneous expiration of stock index futures and options and individual stock options.
It may be true we are in a bull market, but it is certainly not a typical one.
Instead of trying to pick winners, Marks sensibly proposes the opposite: You might also achieve that goal — of producing alpha, or outperformance — by holding fewer of the losers.
That is why the vast majority of active stock pickers continue to underperform the market, and why money continues to flow into passive index funds.
Persons:
Rosh Hashana, Jonathan Krinsky, Lowry, Howard Marks, Oaktree, Marks, FAANGs, Jesse Livermore, It's
Organizations:
Triple, Bulls, Apple, Microsoft, Nvidia, Tesla, Facebook, Netflix
Locations:
Yom, Yom Kippur