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Days like Today, Part 2
Wow, another days like today post. I think it is warranted. This does NOT feel like your average down day. Many names, including the names Fiducia owns, are up. We can all speculate why the market moves the way it moves, bottom line no one "really" knows. We can say UK lockdowns, new COVID strains (that have been out for months actually), but there is no point for me.

But lets step back and focus on our businesses we own. They are still on fire, ignoring the day to day noise may be the best investment decision one could make. Now, unless you are a trader, today really shouldn't matter. I dont add to me names unless there is a rather large dip. I have price targets in my head and valuations that I would like to add at. Below is a photo of my monthly returns since I started managing this account in 2014. Can you see where the Central Banks really ramped up their buying? My largest personal drawdown as only been 18% as well, in March of 2020. That was crazy.

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My standard deviation changed slightly as well over the years:

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2021 is going to be an exciting year for many reasons, we have a vaccine, economy should get back to normal, buybacks resuming, new administration, and many more. I also think returns will be, meh.

But what are the risks? Let us start a thread on possible risks the market faces because as we know, we can never become complacent. Markets climb a wall of worry.

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