Bigger Than a Bear Market

A dear reader wrote in to complain that the Dow was up some 1,500 points since he acted on our gloomy view… and sold out of the market. But we hold to our opinion: This ship is sinking.

As an investor, you face two kinds of risk: the risk of missing out on gains and the risk of taking losses. It's up to you whether you continue to bet on rising U.S. stocks. But our view is you will be glad you got out when you did.