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[nimblebear]

that's what low rates are intended to do. To obscure true risk, and make everyone believe that all is well. While also leaving everyone with little choice to do anything else. No bonds. No money markets. No CD's. No FDIC insured savings deposits. The Fed doesn't want a soul in any of that. Well except for maybe treasuries, but that is another story. This is pretty sage advice, but I doubt anyone is going to heed, no less believing a rip roaring bull market or at least a very risk free run up from here is at hand. Jeff Saut (Raymond James Chief Strategist) is out with his latest commentary today and it opens with a killer quote from the famed investor, historian, and economist Peter Bernstein: "I have opted for more conservative ideas and not aggressive ones.” "After 28 years at this post, and 22 years before this in money management, I can sum up whatever wisdom I have accumulated this way: The trick is not to be the hottest stock-picker, the winning forecaster, or the developer of the neatest model; such victories are transient. The trick is to survive. Performing that trick requires a strong stomach for being wrong, because we are all going to be wrong more often than we expect. The future is not ours to know. But it helps to know that being wrong is inevitable and normal, not some terrible tragedy, not some awful failing in reasoning, not even bad luck in most instances. Being wrong comes with the franchise of an activity whose outcome depends on an unknown future (maybe the real trick is persuading clients of that inexorable truth). Look around at the long-term survivors at this business and think of the much larger number of colorful characters who were once in the headlines, but who have since disappeared from the scene."