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Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

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  • Not sure why this should surprise anyone, or even be newsworthy...

    Homo sapiens generally engages in herd behavior WRT financial issues. -- Besides, 'doing something' to protect one's portfolio would have resulted in enormous opportunity cost over the past 1-, 3-, & 5-year period. So we few who did it/are doing it are seen as stupid bumpkins.

    Compounding the natural herding behaviour is the dogma of 'buy and hold'. Hey, 'set it and forget it'. Everybody is worrying about trimming a couple hundredths of a decimal point off their ETF's expense ratio. I am always amazed how the most adamant 'buy and holders' are so tight-fisted about expenses, yet quite happy to pay extravagant prices for the underlying assets -- and urge others to do the same. Tulips anyone?

    The business cycle has not been repealed. Bear markets have not been outlawed. There will come (another-) reckoning.

    Until then, I'll just 'go fishin' (or the equivalent.--This evening, I just put in some orders for next week's T-bill auctions.)

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