This Monday, April 20, there were corrections in all the indices globally. These falls were close to 2% (SP500 -1.74%; Nasdaq -2.23%; Russell -2.48%; MSCI China -2.69%), which represents a fall of 4–5% from highs . To put all these data a bit in context, the SP500 has historically grown an average of 7% annually, in 2020 it grew by 15% and this year it currently has 17% YTD. It seems logical that there was a (small) correction.

This has meant, how could it be otherwise, that a large part of the investment community sees extreme risk in the markets when just a few days ago they had ‘All In’ portfolios. One of the most notorious cases or at least that we follow the most, perhaps we find ourselves biased, is that of an investor who just a few days ago advocated having a 100% invested portfolio.