How to Avoid Stock Bubbles

Alex Castellanos: I think people get seduced by the stability that we see around us. To assume stability is there and to not have some sense of probability, it's where it all kind of breaks down. This is why as many as 90% of all active professional investors underperform over long stretches of time. When bubbles implode, you usually have a bear market that ensued,. It took almost 30 years for the Dow Jones to recover its losses after 1929 crash.

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