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If you believe in buying low and selling higher or desire to buy and hold, what should an investor do a this point?
In my humble opinion we should think along these terms…In the 200 year history of the United States, no long-term buy and hold bull market has STARTED from these levels.
Now that DOES NOT mean that the current up trend will end right now!
My mentor and world famous value investor Sir John Templeton always had a keen eye for the big picture. If Sir John was alive today, would he look at this indicator and feel like stocks are cheap?