"Degree Of Difficulty Is Very High" Right Now - Goldman Hedge Fund Honcho Warns 'Preservation Of Capital Is Most Important'

A lower volume, lower velocity week relative to the fireworks of past month, and US equities scratched out a modest winner.

With a touch of distance from the screens, Goldman Sachs head of hedge fund coverage, Tony Pasquariello, lays out a set of high level observations:

i. a bullish thought: