I bought today - got no hedges on. I'm very comfortable with market dynamics and will play out naturally and six months from now people will be wishing they bought at these lows.
We havent had a secular bull market for a while we have had three bear markets in four years.
2018 + 2020 + 2022.
Market has a knack of putting in important secular lows years ending in 2.
Economy isnt really that bad to justify DOW stocks trading mid single digit p/es when earnings are expanding. Historically DOW trades at p/es between 12-25 not 5. So on proviso earnings keep expanding there is 300% upside to catch to historical averages. Even if not the buffer at current valuations are still enticing.
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