Good discussion of big picture in this segment with John Mauldin and Harry Dent. Here is a direct link.
As Mauldin alludes near the outset, our own analysis also suggests that the next cyclical bear market could be the last one of the secular bear that began in 2000. It has been a long time coming…but history assures us that for those who are prepared, the opportunities presented will be well worth the wait. Meanwhile the buy and hold crowd may look busy and confident, but capital under their direction has barely advanced on a gross return basis over the past 14 years. And since most individuals pile in cash near tops and sell in panic after price declines, actual results in practice have been much worse than a look at the overall index experience since 2000 would suggest. Most systems and investors are repeatedly mauled during secular bears. But only because they do not understand and calibrate their responses to protect and prosper through the climate at hand. This big picture chart of the Canadian stock market TSX 60 (XIU) is a great view of this secular bear from 40 thousand feet and counting…The next price reality check for stocks is shaping up to be a beauty.
Source: Cory Venable, CMT, Venable Park Investment Counsel Inc.
;
