Sell Hubris, Buy Humiliation
Sell High, Buy Lower
BIL is 3-6 month TBILLS, which are currently over 5% before Cap gains, which is what money market buys for their returns. . .
What's a normal market? Less mega cap dominance of the weighted price indexes, less correlation of component movements. Less passive investment, which increases component correlation which increases volatility on two fronts, and less dependence upon money supply / liquidity growth and more on investment growth.
from a recent Chinese dinner
GFTU
Good Fortune to You
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