Take it from an “old-timer” (age 71); everyone is a stock-picking genius in a bull market…and that’s really all we’ve had for the last 9 years.
I love this point, it is so true and so important. When your only experience is formed in the rising tide of one of the longest bull markets in history, one can easily be fooled into thinking they are great stock pickers. In the bubble years of 1997-2000, any half-brained idea was bound to work… pick stocks with a ticker symbol that starts with a vowel… it works for a while, until it doesn’t.
Surviving in the long-term involves managing risk, which we often overlook in good times, until it is too late.
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Invest wisely my friends