What makes me worry about the markets - August 2026

The markets are connected, and the message is not good: 1. The Korean tech bubble is bursting, and some return to normality; however, it is not done yet. US retail investors are net sellers. We just saw a US fund blow-up with Situational Awareness. It is a one-off, but investors need to realize that investor euphoria led to the excessive money flows. 2. Coordinated intervention in the yen market…