The deeper questions that created the recent convulsions have not been answered, and the easing of so much useful fear will make them much more difficult to address. That’s why the uncertainty and volatility of the past half decade is far from finished — and is almost sure to trigger new crises. Be sure your seat belt is securely fastened, because nothing has really come to rest. We have entered the New Abnormal, a period in which every market assumption must be questioned and the wise investor is prepared to be surprised.
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