Taking a position in monex or Mazda or any of a hundred other stocks geared to a cyclical upturn would have been prudent at the start of the rally in December last year rather than sticking to value stocks with limited downside risk and stable earnings through 16 years of deflation. I will have to remember this in another 10 years when the next such opportunity arrives. Such is the lament of a value investor; to watch the greatest party in years erupt and be stuck with your cousin for a date.
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