From Charles Hugh Smith:
Sometimes, one chart tells us more than a thicket of charts.
Every analyst and punter seeks an “edge” by plotting and comparing innumerable indicators, ratios, correlations, and data points.
Sometimes, all this complexity pays dividends, but if it did so consistently then 90% of hedge funds and mutual funds wouldn’t be underperforming index funds. Sometimes, a single chart says it all…
Chart courtesy of the Macro Story.