The latest Michael Mauboussin piece just dropped. Lots of great insights on the nature of market drawdowns and recoveries. It digs into the historical base rates, psychological challenges, and what factors might signal a true turnaround.
One thing that really stood out to me was that the biggest returns often come after the deepest crashes. It really reminded me of the Strawman Index rebound after the 2021 small-cap collapse.
Fortune favours the brave!
Anyway, it's worth a read for anyone thinking about risk, resilience, and where real return potential lies.