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There’s no need to complicate things, no reason to sugarcoat it… It’s a rout. Stocks are in an unambiguous bear trend right now. Copper and oil are breaking down; this tape has “recession” written all over it.
Overseas, Chinese firms are planning buybacks to keep their bull running, and it looks like the government there is trying to raise dollars by selling Treasuries to maintain the yuan. (Of course, we know from history that currency pegs don’t stand the test of time.)
We need to quickly come to grips with the fact that we’re living through one of the most volatile quarters in modern market history.
Don’t try to be a hero: This market isn’t awarding points for style, effort, or guts.
Be a survivor. Zoom out, do your best to contain drawdowns, and keep a level head.
What’s coming on the other side of this rout is sure to be life-changing. Let’s take a look ahead…
