"A 60:40 allocation to passive long-only equities and bonds has been a great proposition for the last 35 years… We are profoundly worried that this could be a risky allocation over the next 10." - Sanford C. Bernstein & Company analysts, January 2017
"Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria." - Sir John Templeton
"Life and investing are long ballgames." - Julian Robertson
Introduction
During my time writing on Seeking Alpha over the past six years, I have emphasized two points on a regular basis. First,