A $33 Billion Manager Says Resist Temptation to Buy the Dip
The CBOE Volatility Index had its biggest single-day jump on Feb. 5. Inflation worries led to a spike in bond yields and a plunge in global stocks. Investors buying up securities after the tumble were hit when the S&P 500 Index resumed the decline later in the week. This ended a five-day period down 5.2 percent. The speed of the reversal has challenged the oft-repeated maxim that investors should buy after a decline as market signals are increasingly difficult to parse.