Bear in Bull's Clothing

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Since 2003, our market has been a bear in bull's clothing and it is finally beginning to be revealed. I believe we are in the middle of a secular bear market which will hurt anyone who believes in "Stocks for the Long Run". The misinterpretation of an equity risk premium has turned it into and equity risk DISCOUNT, so the best strategy is to be invested in a absolute return portfolio with disciplined risk taking.

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