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Unmissable

 

Unmissable

Courtesy of 

Three unmissable reads I wanted to highlight – above and beyond my typical morning links…

Ben Carlson’s new one for Bloomberg View is about preparation: “Adjust your expectations for market turmoil before it occurs, not during or after the fact.” Here are some ideas about how to do that: 

Prepare Now for the End of the Bull Market (Bloomberg View)

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Michael Batnick has this thing up about the new all-time high in the S&P 500 that was 1375 trading days in the making. It brought out a lot of top callers back in 2013. Four years and another 148 new record high closes later and they still haven’t stopped.

All-Time High (The Irrelevant Investor)

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“Tell someone that everything will be great and they’re likely to either shrug you off or offer a skeptical eye. Tell someone they’re in danger and you have their undivided attention.” Reading Morgan Housel is like eating your vegetables, except the vegetables turn out to be both delicious and good for you. This is great:

The Seduction of Pessimism (CollabFund) 

So good, whole crew spittin hot fiyah.

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All-Time High

Courtesy of 

On the final trading day of the first quarter in 2013, the S&P 500 made an all-time closing high. Five and a half years and 1375 trading days had passed since that last happened.

On March 28, 2013, stocks wrapped up their strongest first quarter since 1998 and the S&P 500 (SPY) was up 149% from the lows. Banks in Cyprus had been closed for a couple of weeks, jobless claims were 357k, and GDP was growing at 0.4%. And of course, the Fed was either being given credit or blame for all of this, depending on which side of the fence you were on. It was perfectly reasonable to wonder how much further this thing could go.

Four years later, we have the answer to that question. The S&P 500 (with dividends) has added another 70% since it’s first new all-time high in March, 2013.

148

Calling the top is a really, really hard game to play. Imagine being negative on the market in 2013, and seeing 148 new all-time highs over the next four years? What does that do to your psychology? Can you ever recover from that?

The S&P 500 just closed at another all-time high. Take advantage of the blue skies. Put a plan in place, this way you’ready when the storm arrives. Buying insurance after a disaster strikes is no way to live your financial life.


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