It is crucial that investors understand that it is time to choose between 2 different economic narratives, which are very well described here:
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As investors consider this, it might help to realize that, for the fifth year in a row, JP Morgan has just been forced to shift from Narrative A to reality Narrative B in 2014:
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JP Morgan is now forecasting 1.4% US growth in 2014 from 2.8%. US growth in 2014 is now forecast to be the weakest since 2009.
Tax-Efficient Investing: How the Right Strategy Saves You Hundreds of Thousands
Effective compounding and tax minimization are not competing goals. They reinforce each other. The discipline that drives superior long-term compounding uses aggressive risk management to minimize drawdowns and so also
