WHEN EVERYONE IS BUYING, YOU SHOULD BE HEDGING

Why the 'tourist is switching to puts and why the market will look a lot different in the New Year

Going into Thanksgiving, markets had already had plenty of chance to digest the Trump election win. Their conclusion? It would be good for stocks, with the consensus being that small-caps would fare best. As our American friends dug into their turkey on that Thursday, the S&P 500 was up 5.0% since the election announcement. The Nasdaq was up 3.9%, MAG7 …