I Have a Bearish Bias

This is my forty fifth consecutive year as a chief investment officer. In forty five years, i've never seen a constellation, or, frankly, studied one where there's no historical analogue. Right now, i probably have more humility in terms of my views going forward ive ever had. I have a bearish bias. One of my job is to manage myself and know that the bias exists. But it does exist in me, and listeners should beaware of it. Maybe all this pessimism of viewing isn't going to happen.