I am not sure how it will play out just yet, if we focus on the US we have just had a fairly big change of monetary policy, looking to shift from large government spending to prop up the economy artificially to quite aggressive spending measures. We have been told for 5 years that we are going to "thread the needle and avoid a recession" which I think anyone who looked beyond what politicians and economists were saying could see that wasn't going to be the case. We have been kicking the can down the road for a while, and Corona was the nail in the coffin (still kicked the can down the road though).
We will see how aggressive global monetary policy becomes over the next few years. If they go aggressive with large rate rises quickly to combat stagflation we will see a harsh correction in global markets and a lot of people will struggle (our economy loves property, so it'll be interesting to see how that plays out here), but it will be quicker than the alternative.
People don't like rate rises even if it means we are better off in the long term, so it's more likely we go with the stagflation scenario with choppy rates, similar to the 70s-80s. The Dow Jones didn't move for 15 years, while in the same period, gold had massive gains until they raised rates to 16%. This is where you're right about the ABC correction, could it be an expanded flat type scenario. Either way, I think they will be heading up significantly within the next few years.
I'll be keeping a healthy list of miners, both established and explorers. Ill also look at putting more money into commodities.
I agree with missing the recovery though, gotta be right onto it, greedy when others are fearful.
