Investors went hungry in August, denied by Jerome Powell’s Federal Reserve of opportunities to profit like no other month in four decades. From stocks to bonds and commodities, every major asset slid. The least-atrocious return was a 1.9% loss as shown in a Bloomberg index tracking high-yield corporate bonds. Worse was a 2.2% drop in Treasuries, a 3.9% decline in commodities and a 4.2% slide in the S&P 500. Rarely has advice not to fight the Fed borne out more severely. The last time the best-performing asset did worse in a month was December 1981. “The only way to make money in an absolute sense is cash or ... (full story)