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I just read the introduction to today's newsletter. Here is the excerpt I found interesting:

"No one has seen a market quite like this. What's worse, there has been no place to hide."

Right after this statement, this was written:

"It may be painful to watch, but this dislocation has created the potential for truly outstanding returns going forward. These are once-in-a-generation opportunities -- and the vast majority of them will be overseas... Virtually 100% of all past recessions and depressions have ended. So, too, shall this one."

Well, since none of us have seen a market correction quite like this, a once in a generation phenomenon, how can we then assume that the corresponding recovery WILL BE like all previous ones. This deduction doesn't equate.

What if the recovery is none that we have seen before as well? What if the recovery is also a once in a generation phenomenon, meaning it may take 5 to 10 years to recover versus the typical 1 to 2 years. Cramer is basically hinting at a possible recovery period of 5 years by advising people to not invest in the stock market if they need the money within the next 5 years. What if what we go through is like Japan in the 90's, a flatline for 10 years. I would think that this is the more logical conclusion to the almost unprecedented correction.

I'm not trying to be pessimistic, just cautious. I also think there will be great opportunities in the future but not sure if it will come that quickly. Keep in mind that there is another ticking time bomb - the huge credit card charges that many people will default on (the next subprime "Pearl Harbor").

WCC
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