“Every bubble has two components: an underlying trend that prevails in reality and a misconception relating to that trend.”

All of the value creation for investors comes from the actions they take in falling markets, not rising ones

Been doing it since my late teens.

This is all you really need to know.

Love, Dad

a little perspective may be in order.

Now what?

No one should have an allocation that keeps them from sleeping with the S&P 500 only a few percent off an all-time high.

You can practically feel it in the air. 

Just to give you some sense of who these 22 families are…

Come the stock and bond price correction, it will feel like a gift.