As we noted last week, the carnage in the retail sector has been amazing. It’s possible that we may have reached an inflection point in the relative performance of this industry compared to the S&P 500. Here’s a look at major retailers and the S&P 500 (in red) over the last two trading days. It’s still too early to tell if this trend change will continue, but it’s worth a look. Finding value in an expensive market is always important in asset management. Note that DDR is not a retailer, but a REIT in the retail space.