I think he was speaking the way he THINKS it should be and not the way it is. Sometime back there was a nice article by Ritholtz on his blog about many investors let their political leaning to influence their investment decisions.One of the examples are some of his Republican friends fearing Obama presidency, stayed in cash and in sidelines for too long and thus completely missed the bull market from 2009. It was an eye opener for me. I am still not able to shake my uneasy feelings when it comes to buying stocks. But at least it helped me to realize I am falling behind the market by staying in cash and letting inflation erode my savings.This is partially offset by REIT Preferrds. Especially in the last 12 months the REIT preferred portfolio returned 10% +, which I would have completely missed if I stayed in cash.PS: Still I find investing in stocks bit difficult, as I see most industries, companies are having peak margins and it is not clear how they can stretch their margins or profits any further.
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