We have heard for decades that the most dangerous words in investing is that “this time is different”. Referring to the fact that cycles repeat and nothing new happens, because it is just a new generation of investors going thru the same cycles experienced by previous generations of investors. While there is a lot of wisdom in that concept, it misses the point explained in this piece. The runup over the last fifteen years has been very different to all the previous cycles in economic history. Therefore, it is not rational to expect the rundown of this cycle to follow all the past ones. The following article explains it quite well.                                                                                                                                    https://www.zerohedge.com/markets/when-whales-central-banks-need-exit-there-point-where-every-ordinary-investor-forced