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If you feel that reversion to the long-term mean is pending, you are probably holding off on any large buys. But if you really feel that a catastrophic plunge is pending - then maybe you either go short or hold 100% cash, no?
Logic dictates that the markets should have been reacting to new US policy changes that will effect the global economy, but apparently logic plays no part in the short-term market outlook.
precisely. I'm more defensively positioned in bonds, but I can't bring myself to go run and hide completely. Logic has nothing to do with it, particularly in the short-term movements. Mr. Market ALWAYS overreacts, both upward and downward. Statistics come, statistics go. My own strategy does not match my age: I'm investing for the most part, for heirs. 44 stocks. 47 bonds. 5 cash. 4 other.
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Logic dictates that the markets should have been reacting to new US policy changes that will effect the global economy, but apparently logic plays no part in the short-term market outlook.