Highlights
- To expose their opponent's chin for a knockout punch, MMA fighters often soften them up with annoying but painful body punches and leg kicks.
- In investing, corrections and volatility serve the same purpose, knocking us off our plan in the most inopportune moments.
- To combat this tendency to respond to pain at the expense of victory, we must instead remain vigilantly focused on market structure.
- This week's note puts into perspective the many body blows and leg kicks delivered by. . .
