2016: The Year Of Conviction

I think too many commentators and investors are way too sanguine about global equities' dismal start to the new calendar year. Historical precedents and technical trend lines suggest weakness could potentially extend to much lower levels. Is this a new global financial crisis? No, but that doesn't mean an adjustment to slower growth across the globe cannot trigger more negative shocks or push equities into a new bear market. Regardless of the ultimate outcome, I think an investors' worst enemy right now is complacency and over-confidence all shall be OK after some volatility. This is the time to take a hard look at one's exposure, in my view, and concentrate on Conviction positions and strategies. It is also a time to not shy away from having cash on the sidelines. Cash offers options. Hoping for the best is never the best strategy available. My opening comments for the New Year: (VIEW LINK)


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