Rallies are about the Future, Selloffs are about today

No change in positions.  Aggressive portfolio is 85 percent long stocks and we still have long dollar, short T-bond positions. Conservative portfolio is 25 percent long stocks.

Like they say on the farm, the horse left the barn a year ago and everything has followed, nothing left to do but pound the wall and scream, so it is with investors today.  So we are following the horse will come back eventually scenario, although it is tempting to join the screaming crowd every morning.

7:32 AM CST

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