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> but as Keynes once said: the market can stay irrational longer than you can stay solvent. My strategy has just been to stay away

To take it a step a further, you cannot reason people out of a position that they did not reason themselves into.

And “bonds are math, stocks are stories”.

Oooh, I like that one! Thanks for sharing it.

> especially when the market as a whole is doing so well.

… is it? There was some news maybe within the last month saying only the top 15 or so of s&p companies were the only companies showing healthy growth and everything else below that has barely any growth, is losing value or is stagnant.

You forget it can stay flat. Butterfly option otherwise.