I'm mostly in cash however my long-term bond holdings are getting killed. I believe this market has room to fall much further. The Fed has clearly voiced they will continue to implement QT. My strategy is patience and defense. I'm thinking it's a bear market for another 8-12 months, possibly longer. Wage slaves are getting killed by inflation, retail inventories are high, big-ticket purchases are down, car repos are extremely high... Think it's bad now? Just wait until layoffs start and the banks stop lending. Regular folks will be ground to a nub.
That said, wake me up when home prices in The Villages drop 40% or more...
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