Wizard of Oz

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Defying Gravity

The case for hedging against a market downturn
Wednesday, September 10, 2014, 12:05 AM

Today's markets exist in an Oz-like, fantasy world. For 5 years now, stock and bond prices have risen like Dorothy's balloon, without so much as a puff of downdraft to spoil the fun.

Everybody likes higher prices, so let's have them always go up! Forever!

Whether that can happen is a topic of current hot debate, though few think corrections have been permanently banished from the financial markets. » Read more