In our view, the current market environment begs for investors to honestly assess their tolerance for loss, to align the duration of their
investment portfolio with the horizon
over which they expect to spend their assets; to consider their tolerance for missing returns should even this obscenely overvalued market continue to advance for a while; to understand historical
precedents; to consider whether they care about such
precedents; and to decide the extent to which they truly believe this time is different.
In our view, the current market environment begs for investors to honestly assess their tolerance for loss, to align the duration of their
investment portfolio with the horizon
over which they expect to spend their assets; to consider their tolerance for missing returns should even this obscenely overvalued market continue to advance for a while; to understand historical
precedents; to consider whether they care about such
precedents; and to decide the extent to which they truly believe this time is different.