I know most of my limitations. I learned awhile ago, for example, that I'm not a stock picker. I also learned that trying to predict the stock market's trajectory is a futile and dangerous exercise.
One financial adviser whom I've known for decades (disclosure: we've been lifelong friends since childhood) addressed the oft-asked question -- When-will-the-stock-market-crash? -- in his recent client newsletter. David C. Hoelke is a Minneapolis-based adviser with Focus Financial who wrote...
"The chances of individuals guessing when the stock market is going to crash is approximately the same as my guessing when the sun is going to explode. Since I can't reasonably hazard a guess, I prefer to go about my day without worrying about the sun exploding."
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