Bull Market Rhymes
The Memo by Howard Marks
Bull Market Psychology
Bull market psychology isn't a positive. It connotes carefree behavior and a high level of risk tolerance. Investors should find it worrisome, not encouraging. Bull markets don't arise out of thin air. The winners in each bull market are winners for the simple reason that a grain of truth underlies their gains. As warren buffett puts it, the less prudence with which others conduct their affairs, the greater the prudence withwhich we should conduct our own affairs.
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