MUTUAL FUND OCTOBER YEAR-END EFFECT

The 'tourist discovers a strange October 31st anomaly

I was talking to one of the shrewdest retail brokers that I know this summer - you know the type; a broker whose book is filled with heavy hitters and institutions who might as well be institutional - and he mentioned that when it came to tax-loss selling, the Americans aren’t like Canadians. He explained that the American selling of underwater stock po…