This is Howie Dewitt

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This chart from Grant Hawkridge is a beautiful representation of how our stock market has functioned over the last century and then some.

All-time highs are a part of the process, but they’ve been separated by brutal bear markets that can last years, even decades. This last point is one of many reasons why the latest “research” on why you should have a 100% stock portfolio is hilarious. But I digress.

The last time the Dow Jones Industrial Average made an all-time high was January 2022. That’s 485 trading days ago, 707 if we use the calendar.

If you did one or two minor things you wish you hadn’t during the bear market, shake it off. Nobody’s perfect.

If you made a big mistake, look yourself in the mirror and get to the root of the problem. I always say that past behavior is indicative of future behavior, so if you acted out of emotion and went to cash, you’re likely to do the same thing next time we inevitably find ourselves in this situation. Between now and then, figure out how to put some distance between yourself and your portfolio, to the extent that you can.

If you’ve been fighting the recovery the whole way up, it’s time to change who’s influencing the way you think about the market.

And if you survived this bear market, congratulations. It wasn’t easy. It never is.

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