No. of Recommendations: 2
Perhaps it might be time to consider shrinking positions a little?
It has been a rather enthusiastic rally on not much news.
I'm happy to hold. I think the returns from here will remain considerably better than on cash over the next few years, which is more or less my investment thesis, which seems intact. Another price plunge is always possible, of course.
One notion is that rather than merely seeing panicky prices end, they might actually be seen some day as a decent investment offering growth, and multiples might expand. That may take a few years for the tide to turn, of course, but I feel I have managed an entry sufficiently good to give me reasonable returns/safety till that time.
Jim
