But he thinks the bottom may be near. Here’s his money quote from the interview: “There’s a big bear market rally coming.”
Seven and a half hours later, the Dow had risen 5.8 percent.
So was this a case of causality, or merely correlation?
Probably about as much causality as the typical explanations of stock-market movements. If there really was a specific reason behind yesterday’s spike, it probably had to do with Citibank, not Ritholtz.
But given his excellent timing in this case, I wouldn’t be surprised if a lot of people got out their wallets the next time they hear him speak.