February 26, 2013 at 10:00 AM EST
Barking Up the Wrong Correlation: Italian Election Did Not Cause US Market Slide
So yesterday’s Italian elections came in utterly inconclusive and as we slowly discovered that the center-left couldn’t beat out in any meaningful fashion Silvio Berlusconi or a comedian (some would argue that’s redundant) everyone categorically asserted that “Indecision 2013 – Italian Style” (thank you John Stewart) was the reason for the market slide on this side of the pond.  One of the most difficult aspects of this business lies in distinguishing between causation and coincidence because choosing between the two can lead one to clairvoyant positioning or a car-wreck whiplash.  The European crisis that is supposedly re-awakening and shaking ...
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