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My hope is that we will -- if not forever, then at least for a long time -- avoid the terrible problems and setbacks that have plagued all of human history. The spread of technology, and its acceleration, lead to increased efficiency. That leads to increased prosperity. Prosperity nurtures peace. Peace nurtures prosperity. All this really may offer a new model, of sorts. Maybe the market's a bargain here and the new world order is: buy! Then again, electricity was no small thing -- think about it! -- and neither was the telephone or the airplane or television or computers. Yet the market didn't go up 20% a year over the last century, or anything even vaguely close. And recessions and panics did not disappear.

The individual who approaches an auction market with rationality as opposed to blind faith is more likely to sleep well at night than one who buys at any price then just hopes like crazy that he hasn't been led down the garden path. But then that's what faith is. The question one must ask himself is how much of his portfolio should be based on faith, and the answer need not be the same for everyone. But everyone should at least think about it.
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