Agenda:
Current markets:
Investing Rules to Remember
Markets tend to return to the mean over time
Excesses in one direction will lead to an opposite excess in the other direction
There are no new eras — excesses are never permanent
Exponential rapidly rising or falling markets usually go further than you think, but they do not correct by going sideways
The public buys the most at the top and the least at the bottom
Fear and greed are stronger than long-term resolve
Markets are strongest when they are broad and weakest when they narrow to a handful of blue-chip names
Bear markets have three stages — sharp down, reflexive rebound and a drawn-out fundamental downtrend
When all the experts and forecasts agree — something else is going to happen
Bull markets are more fun than bear markets
