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Hi Sean. It's officially exuberance season. As I write the DOW is up at staggering 351 points and rising. I hear sports radio people remarking on it. Madness begets madness, I can only think the eventual downturn will be steeper and longer than what we've seen before. Thanks for being a sane voice in a sea of upheaval.

Yep, it's what the tail end of uptrends look like (wave 5's). It's the point of maximum optimism, which chooses to disregard valuations because they just want to get sucked up into the emotion/greed. They're being unwise. Thanks, yeah being a contrarian isn't always popular but yet it's the best way to invest over time.

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