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Do You Think We Could Be in a Generational Bear Market?
I think we're looking at a generational bear market. The S&P went from the 1929 top and it returned inflation adjusted to the same value in 1981. If you are at a top, you can't win from there. There's no way to win. Unless you're unbelievably dexterous, there might be good value but hustlers would say, look, you got a stock that's got a P e of 10, you're going to make 10% in theory.