I read it, don’t disagree with any of it fundamentally. Really comes down to “historical returns don’t predict future results”. Mike and I have done this dance before. Does the economic paradigm of 2008 and 1999 apply to now? Some of the bears El Arian, Jeremy and many others think it does and have been preaching this since 2012. They are very smart people and have data to back them up. Anyone following them will do fine as long as they remain invested. I think things are different this time (since GFC) and yes it makes my skin crawl to even say that but here we are.