Another month and another challenge for investors and I suspect it will get worse before it gets better. However, I maintain my argument that this post-election, pre-fiscal-cliff-solution anxiety will create a buying opportunity ahead of a December rebound, which should roll into January.
And all of this underlines one argument of my favourite investor – Warren Buffett – which I disagree with. I will deal with that later.
Nearing the fiscal cliff
Wall Street has shed around 5% since Barack Obama took the prize in the US poll and now there are a collection of forces that make it easy for short-sellers and hedge funds to get a bit of action before some sort of settlement of the 'fiscal cliff' issues arrives.