I remain in belief that we are in a long-term secular bear that may likely last for another seven or so more years as we work our way through the consequences of deleveraging both domestically and worldwide. ... Sentiment is back in the Extreme Optimism (Bearish) zone and thus the timing of today’s update as I believe it is again time to revisit Sir John Templeton’s sage advice, “Sell when everyone else is buying”.
---Steve Blumenthal, CGM Capital Management, Subscriber email, 3/20
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