Long time readers of Contrary Investor know we have been bearish for quite some time now regarding equities. In fact VERY bearish. Probably the most important lesson we learned long ago in this business is that flexibility is the key to longevity in the investment world.
Balance is a necessary ingredient for long term success.
The financial markets are all about change. The human condition is all about change. By nature, we are skeptics. Skeptical of emotion. Skeptical of consensus thinking.