8. Social Mood and the Markets Today: So Where Are We?

To frame my answer to the question in the chapter’s title, I’d like to begin by asking two questions, which I frequently use to launch my presentations on Horizon Preference. The first question is, “We know things aren’t as good as they used to be, so when were they the best?” And the second question is, “As bad as things are today, is there a time you can think of when things were far worse?”

Before reading on, I encourage you to think about your answers to both of these questions and, if possible, to put specific dates on them.

When I am speaking to groups, after giving everyone the opportunity to silently answer the two questions I just raised, I typically call on members of the audience ...

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