I am not so sure about that this time Sam. An economic Perfect Storm has been created by the Central Bank manipulation, the creation of imaginary money out of thin air (QE), hundreds of Trillions in unfunded liabilities in the US alone, debt on a Biblical scale, and years of government lying about the real data and our economic situation.
Happy talk might have stemmed the tide, but this slow motion crash is global. Everyone hid under the skirts of China for awhile, but now that glass house is broken.
I think the old rules of "buy and hold" may not apply anymore. Normalcy bias seems to rule the "experts."
Well put. Same thing I said, but more articulate.