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TIP478: Market Cycle Masterclass w/ David Stein
We Study Billionaires - The Investor’s Podcast Network
Is There a Backward Bias?
I remember back in 2020 in March with COVID happening and the markets just declining, you know, dropping every single day. What was different in 2020 versus 2008 is the willingness of central banks to act and to start buying up assets. And that's when in our portfolios, we added investment grade bonds because they were now yielding 3 and a half, 4%, 5%. But it's, you never know enough to get completely out because especially the wildcard of the central banks right now. So, all we can do is calibrate our risk based on where things are so that hopefully we have enough in reserve to take advantage of opportunities.
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