Mark Connolly- The wolf of west Africa, page-38

Two more rate hikes are baked in to market expectation. If Fed delivers more hawkish guidance POG will s**t the bed and WAF will fall a lot further

I’d expected China trade tensions to have rattled the markets a lot more than they actually did. I believed Fed would feel compelled to put out dovish commentary to calm the horses.

Of course this never happened. The SP500 is hitting regular ATHs and a more assertive approach from the Fed is almost certainly warranted to cool the market and create buffer

By the time this dawned on me WAF had already cratered. I should’ve sold at a loss several days ago, but I fell victim to my own confirmation bias and sunken cost fallacies #sad