It's hard to go against the market, but good investors live for times like these

Unfortunately, there are problems with this approach, including that we aren’t qualified and the connection between theand stock market is sloppy at best. Getting the macro picture right doesn’t mean we’ll time the market correctly.

We’re all looking for clarity, but it’s not the time to get entrenched on one view. The late investment manager Peter Bernstein said it best, “In calmer moments, investors recognize their inability to know what the future holds. In moments of extreme panic or enthusiasm, however, they become remarkably bold in their predictions.

We can’t predict when stocks will bottom, but we know one thing: it will happen well before the war and economic slowdown are declared over. By waiting for certainty, you may avoid a few mistimed purchases, but miss out on a bulk of the market’s recovery.In bull markets, risks get swept under the carpet. They’re put aside because things are going well. In bear markets, the carpets get rolled up and all the dirt is in plain view.

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