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And it history repeats itself actually heard a lot of comments from the the board here on.
People thing that the facts you know we do to look back but also look ahead so -- what would you be advising investors right now to.
Really be looking -- if his group without that we in for another boom and bust cycle is gonna continue.
That -- just say on the personal finance side.
I think a lot of people are having severe.
Cash -- -- -- -- they're worried about whether they're gonna have enough cash.
To live the kind of life they want to live not just in retirement but maybe for the next.
Years so I do think that having a like at 88 cash reserve is tremendously important OK beyond that.
I I believe that stocks are the place could be.
And but their only the place to be for people and we said this in our book and I've I've said it in my -- eleven years that I wrote for the Washington Post and the the three -- four years that I've been writing for kiplinger's personal finance today.
That stocks are only.
For people who can put their money away for the long term.
And I think what we've seen is a long term -- got a little bit longer hate that they -- a lot of -- life that.
For us playing 57 years -- -- I think it's more like ten years in other words.
To be a stock investor you need to be able to put your money away for ten years although we've just suffered the worst ten year period exactly in history.
We have suffered.
We have and you -- I brought this up but I on another show that.
Even if that might cent toll in Barron's wrote this maybe a month or so ago that even if the next ten years for average you know -- -- not that bad it would still be the worst one year.
Period in history so this is there is a rough time for the market but I guess -- use the logic.
The it's been so bad that if you stand for the next ten years is going to be better than it's been right -- that is it that simple.
Well I mean you know what when you look at the -- at the last really terrible ten year period which was in the 1930s mean there were periods in which.
The market was up 53% in one year and so certainly certainly that can happen I think.
Though the essential question is.
Does history have any meaning -- -- or.
Is something changing and -- look I'm not.
I'm not somebody who believes that history is always.
The guide to the future sometimes things in fact do change.
And that's the question in investors need to ask at this point.
I really frankly have nothing more than history to go on.
And I feel that's true for most investors -- by about freighters you know one thing that a million long term decision to Fred in Michigan just wrote in a moment ago that we've never been in in a world crisis like this yeah precisely like this which I think his point was that.
May be using history as a guy doesn't work if this is unprecedented to some degree when he said that well -- I don't -- so I don't think is unprecedented -- Certainly we had this kind of problem -- in in the 1930s.
We had what I would consider a worse situation in the 1970s.
We had as as Peter pointed out.
You know unemployment -- reached ten point 8%.
82 and 83.
So I'm not so sure that that's true I also think that we've learned a lot in monetary policy.
Monetary policy is going to eventually pull us out of this.
I'm not sure we've learned very much in fiscal policy but I think it.
I think we have learned some things let's not go overboard on this but I do think that that.
It is it is perfectly prudent for investors to do at least begin to doubt.
Whether history has the same applications that are as before -- -- before I believe it does but I think that as I say I think it's it's it's a legitimate.
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