Simon discusses how challenging market timing can be even if one knew economic outcomes ahead of time. He argues for discipline in a frenetic, headline-driven environment. He suggests that valuation expansion, leverage levels and recent stock performance are not all that suggestive of a large cap Technology bubble and how rotation into other asset classes, as well as the "other 493" within the S&P 500 are healthy developments. Portfolio diversification is challenging to maintain and requires multi-year patience.
WIG Names: None
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