There’s been a massive VAR unwind where “momentum” gets sold and “value” gets bought—yet there aren’t actual flows into value. Rather, funds are pulling in exposure and reducing “value” shorts. While it looks like a sector rotation—I see it as a massive “risk-off” event.
http://adventuresincapitalism.com/2019/10/02/getting-ready-for-the-stock-market-crash/
