Well, it's finally official: We are in a bear market.
But the evidence has been abundantly clear for some time now: the stock market has NOT been healthy.
As a result, we would argue that you should have already implemented your defensive portfolio strategy.
Unfortunately, every time we go through something like this, the financial news media talking heads pull out the same sermon they have been preaching for decades. Sadly, not only does this sermon not make you feel any better, it's a sermon based on bad doctrine.
While we go through this bear market, there are generally two types of investors. Some are quite calm. They are pleased they (or their advisor) designed both an offensive and a defensive game plan and are following the rules in that playbook. Currently, they have implemented their defensive strategy and are resting easy.
Then there are those that do not have a defensive strategy. They are hoping this storm passes quickly and the market recovers. But, the reality is that hope is not an investment strategy. As a result, their portfolio is getting decimated and they are likely quite stressed out ... especially, if their planned retirement is just a few short years away.
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