I noted on Friday that the week after " triple witching " is among the weakest weeks of the year, and Friday's action, with the S & P down 1.3% and ending at the lows for the day, seemed to hint at that as well. This historic weakness is well-enshrined in stock market lore and encapsulated in the old chestnut, "Sell Rosh Hashana and buy Yom Kippur." Rosh Hashana started Friday, and Yom Kippur ends Sept. 25.
Howard Marks of Oaktree, one of the most astute investors out there, wrote a piece recently noting that active investors are again underperforming the markets, but observed this is nothing new: "For as long as most of us can remember, active investors have had a tough time keeping up with the equity indices.
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