Another sharp drop happened on Thursday, similar to last Monday’s (Feb. 5) decline. Our conclusion remains the same, as stated in our February 6 memo – “Perspective on Markets”. Our view is that this is an overdue valuation correction, which we do not expect to...

The stock market’s dramatic 8% drop in the last six trading days is breathtaking and disconcerting, especially yesterday’s 4.1% decline. Our view is that this is an overdue valuation correction, which we do not expect to escalate into an all-out meltdown or crash. While we...