Manias plus buy and hold
 

If you are not aware of it, Alan Newman puts out a nice web page that gets updated about once a month. He looks at a lot of big picture items and has been focussed on the "mania" of the last few years. I find it thoughtful and sobering. I don't think it means you can't make money in the next few years, but it may be hard to do if you buy and hold or even if you stick to old strategies. Likely to be a different place for some time to come. Probably requires new strategies if you don't already have some. Check out the link.


http://www.cross-currents.net/charts.htm