March 26 (Bloomberg) -- Stocks worldwide are moving closer in tandem than at any time in two decades, reducing opportunities for money managers and forcing investors used to buy-and-hold strategies to trade more like hedge funds.
Remember a post I did a couple of weeks ago about "Recession Proof Your Portfolio" and how I showed using Marlyn's amazing Curve that foreign funds were not the secret - apparently Bloomberg asked a few hedge fund managers about this and they agreed with Marlyn. (Right - if you are in the business and don't know this already you shouldn't be in the business - the clueless financial press is not in the business. - And some people watch CNBC for "investment advice").
I don't usually recommend long articles but this one is full of interesting tidbits of information that you really should know.
Bottom line -
``If we have a recession, it's going to impact Japan and Europe and China,'' said Joy, who helps oversee $156 billion as chief market strategist in Minneapolis at RiverSource Investments, a unit of Ameriprise Financial Inc. ``All things being equal, higher correlations are likely here to stay.''