Bearish on stocks - is that code for stocks will collapse or retrace? There is a very big difference.
I think people abuse the term long game or long term. What does it really mean? Just stay long term whatever or long term but with a proactive management however loose.
As an example if you were caught up in the gold rally euphoria and bought in August 2011 and say "I am in for the long haul", 6 years later your portfolio is down on a manageable drawdown. If you had sought in the safety of gold stocks and were unlucky enough to see 95 % paper loss could you still hold the long term view on whatever was thrown at you? I doubt it. But I may be wrong and some do indeed have a 20 year view.
