like James Stewart. He has written some interesting books, but he is dialing it in here. An excerpt: As the economy shows signs of improvement, I plan to gradually shift out of defensive positions like consumer staples and health care and into more growth-oriented positions. Meanwhile, I still have the cash position I raised by selling stocks in April. With benefit of hindsight, that sale was premature, a decision for which I nonetheless remain unapologetic. As I’ve said many times, no one can time the market perfectly. I’m in no rush to put that money back into stocks. Last week’s drop was a reminder that even bull markets suffer declines. Eventually there will be a 10% drop, which will be the trigger for me to put more money into stocks. No doubt by then, fear will again have made its presence felt.
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