Waves are common, yet hardly predictable. Some barely get going and others travel thousands of miles. Individual small wavelets often die out, yet many combine until they break and lose their energy at the shore. The process continually repeats. And so on and so on.

Successful investing is about riding the lasting waves and avoiding those about to crash. Stocks have been riding the wave of lower interest waves since 1981 when the average annual rate was almost 17%. Since then, stocks have been in a fairly consistent uptrend – and even the pandemic-induced recession couldn’t stop the surge. In fact, the S&P 500 index increased by 18.4% and the MSCI World index swelled by 15.9%. Your account performed extremely well in this environment.

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