What is August really about? Owen Lamont, senior vice president and portfolio manager at Acadian Asset Management, suggests that for normal people, it’s about relaxing on the beach, but for financial markets, it’s “panic season.”
Lamont, who is a leading economist at the $150 billion quantitative hedge fund and has been a faculty member at Harvard University, Yale School of Management, University of Chicago Graduate School of Business, and Princeton University, looked back at financial history and found a startling pattern. “Even if systematic equities aren’t your thing,” he wrote on his Acadian blog, Owenomics, “you need to be mentally prepared for an epic financial disaster over the coming three months.”
