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The S&P 500's Sell Off Is Not Expected
On a two year basis, punch but the risk reward has been terrible. Max gain from two years ago to today is 10 percent. Max drawdown was 20. So if you have an endeavor of any kind which leaves you with no results unchanged but one had a max upside of 10 percent and a max downside of 20 that is called on a risk adjusted basis a bad proposition right. It's interesting through that lens it makes a lot of sense.
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