Watching capital markets on Monday morning felt like getting a cavity drilled by a mad dentist. In short, it was painful and ugly. But beyond the widespread losses, another important development surfaced on Monday morning. In addition to major moves to the downside, we also witnesses some deeply troubling dislocations in the pricing of a variety of exchange traded funds. Sure, we are in the seventh year of a roaring bull market and the gains have been fantastic all along the way. But given some of the things we saw this morning, it is reasonable to wonder whether it is truly safe for investors in capital markets today.
Please click on the link to read more of my article on Seeking Alpha.