December 23, 2013

I didnt know how market would react to Fed

The Fed's tapering didn't surprise investors (who were almost evenly distributed in expectations), but the market's reaction (up dramatically) surprised many.

Before the FOMC decision, I was positioned market-neutral because I not only didn't have a strong view of whether tapering would be implemented -- albeit, I did not expect a tapering -- but I also didn't know how the market would react to the two likely Fed scenarios.

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