Why do investors charge ahead without first taking care of the basics? Why does something as important as their level of income in retirement get pushed so far down the priority list? I know life gets in the way, but there are other reasons.
If that isn’t enough, the markets right now have a lot of “not right now” going on. The common refrain from economists, strategists and analysts is not to buy yet. The long-term potential for stocks is good, but the short-term outlook is ugly. There are more interest rate hikes coming. Corporate profits are just starting to turn down. Europe will be in crisis for a while and China is no longer the world’s growth engine. In other words, there’s a convergence of risks and no need to hurry.
And third, there’s research from Miller Value Partners LLC, a firm started by legendary investor Bill Miller, that backs up the contrarian indicators. It looked at the 15 instances since 1938 when the S&P 500 was down at least 20 per cent, which is the threshold that defines a bear market .Article content
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