Investing is a lot like sailing. Back when I delivered and raced sailboats on the open ocean, you picked your heading and set the sails accordingly. The wind took care of the rest. Other times it was all hands on deck. Reefs, dangerous currents and massive merchant ships at close quarters required constant vigilance and course corrections. For investors, autopilot has worked well for much of the last decade. The Federal Reserve’s largesse produced an epic bull run. It’s been easy to go along for the ride. The COVID-19 pandemic changed all that. The Fed is still providing a steady[…]
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