‘Buy the Dip’ Goes Mainstream
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Here’s a frivolous way to gauge the frenzied trawl for marginal buyers amid this week’s equity rout: news stories that feature the phrase ‘buy the dip’ surged to a record, according to a Bloomberg analysis.
Following the worst day for U.S. equities since 2011, on Wednesday the dip-buying phrase was mentioned more than any day since at least 2007. It breaks previous daily records set last year -- when the smallest tremors were immediately met with buyers picking up the slack.