Admit it. You are feeling a little bit edgy these days. While you understand that fear is the elixir of investment opportunity, you also recognize that there is little glory for the last person standing on a sinking aircraft carrier.
Most in the media have been touting bull market accomplishments, job gains and economic progress. Writers regularly highlight the monster percentage gains that U.S. stocks have enjoyed since the lows hit in March of 2009 rather than discuss the reality that U.S. stocks have yet to recover inflation-adjusted highs set in March of 2000. Similarly, commentators typically celebrate monthly job growth of 200,000 without an acknowledgement that jobs paying an average of $62,000 per year have been replaced by those paying about $47,000 per year. It follows that inflation-adjusted wages have been stagnant since the recovery's inception. And economic progress itself? Analysts often dismiss the dismal (1st quarter contraction),