“The essence of investment management is the management of risks, not the management of returns.”
– Benjamin Graham
The Through Line: With stocks near all-time highs despite a backdrop of concerning headlines, investor psyches are understandably disheveled by the dissonance. Economic fundamentals remain broadly supportive (for now), but a not-so-vague skepticism re the advance’s durability remains. We examine a few of the most prominent fears under different lights, and highlight moves that can potentially help ease the discomfort.
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