You still don’t understand. It is not hard to spot an asset bubble. The warnings come long before they pop. It is so easy to spot an asset bubble that even mediocre prognosticators report the bubbles. What is hard is predicting when they will pop. I was on the sidelines for more than a year before each of the last two market crashes and I have been on the sideline for more than a year now. I would rather give up some gains (even a lot of gains) than be caught with my pants down. Now if you could tell us with certainty when the bubble will burst, then you are a genius. I think you would have to be ignorant to not know we are in an asset bubble. Yeah, lots of financial advisors tell you to just buy and hold and ride out the bear market. Me I just feel better to have a lot of cash when the market tanks. The closest thing to a sure thing is when the market crashes it will recover. Buy low, sell high.

TEK