, Columnist
A Healthy Correction That Finally Merits the Label
If there is ever such a thing, the retracement of U.S. mega-cap tech stocks fits the description.
Overweight FANG-hugging fund managers have been skewing the market.
Photographer: Keystone/Archive Photos/Getty Images
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One of my least favorite market cliches is “healthy correction”. Why exactly is it ever good for your health to lose money? And how do we know when a market is “correct”? That said, if there is any such thing as a healthy correction, we might just have seen one in U.S. large-caps this month.