"Hint: look at the last time there was net redemptions, Sept. 1990. In retrospect, that was a very good time to be buying stocks. And a poor time to be selling."
Let's be clear: this is probably a correction in a bull market. I argued in a post to you at the end of July that I would be surprised if there wasn't a strong correction, but I also did not think there would be a bear market, a 20%+ correction. Technically I am still right, but this pullback has been savage, and had real reasons behind it, not just strong profit taking in bull market with a potential problem or two thrown in. We have a real problem with political leadership throughout the world, our fed talks like we are not an oasis, but acts like we are, and our financial companies have gotten the sh** kicked out of them speculating on currencies, a grotesque indicator of their arrogance and stupidity.
I think we can assume that buying now will look very, very smart in another 8 years, but the next month or two could be pretty tough.
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