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Wait, who said it was a bull market?
From sources I trust, we are smack dab in the middle of a secular bear. It started at around 2000 and could continue up until 2015 or so.
A wealth manager I work with has been telling her clients, her readers, and the media that right now is a good time to be parking a lot of things in cash. You don't want to lose money? Don't put it all in the market. The best money managers out there know that you don't (and shouldn't) always be fully invested.
Buy & hold (indefinitely) is almost never a great strategy.
This whole thing might seem shocking to many because of common perceptions of the markets. But it's the herd mentality that causes much of the problem in the first place. Greed and myopia are interrelated.
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Knowing that death is certain and that the time of death is uncertain, what's the most important thing?
—Bhikkhuni Pema Chödrön
Humankind cannot bear very much reality.
—From "Burnt Norton," Four Quartets (1936), T. S. Eliot
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