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Ego Is the Enemy

None of us is bigger than the markets. We don't have to be innovative, just work to do what it does. Markets thought that rates would rise. But something went amiss. Rates fell and insurers and financials took heat. Berkshire was down over 3 percent for the week, KBE off over 3 1/2 percent, and VOYA almost 4 1/2 percent. EWZ was the week's winner. SPY remains near all-time highs, above the YTD VWAP (bottom, middle), but dropped below the declining MA5 (top, right).
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