Dear Reader,
Often traders believe that if you are in a Bull market you just need to get into a position and you’ll make some money.
That attitude is perpetuated by the expression, “don’t confuse a bull market for genius,” meaning if you are in a raging bull market it doesn’t take a genius to make money.
That’s 100% true in a RAGING bull market…
But we aren’t in a raging bull market.
This bull is long in the tooth. I know it just started last year, but let’s be honest…
It’s basically a continuation of the previous bull market, which was the longest in the history of the stock market.
That means that even though there are enough stocks gaining value to drive the indices up, there are still a lot of stocks losing.
Think about how I have been warning for the last week or so about undercurrents in the market.
That’s what’s happening right now.
Grinding it Out May be Boring, but it is a Reliable Way to Build Wealth
That means it’s more important than ever to follow the rules you laid out for yourself. And I promise you these are the times when you will be tempted to stray.
As Aesop said, slow and steady wins the race.
The people chasing the meme stonks…
The people trying to make a lifetime of returns in the next month…
The people who are just jumping on the “tulip bandwagon”…
They all seem to be getting rich, and here we are grinding it out as usual.
But remember, when all the meme stonks and newbie investors are broke and out of the market,
We will still be building wealth year in and year out.
That’s why we keep smashing the S&P every year since we launched.
To Your Success,
Steve
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