Good morning,

“The ironic thing is, when prices are high and everything seems fine, people feel safe, but it’s exactly at that time that the risk reaches its highest level because the safety margin disappears.
When things look bad and prices are low, people think it’s risky, but in reality, the risk is usually at its lowest then.
You need to have the mental strength to evaluate numbers and valuations independently of the crowd’s dominant emotions.”
- Charlie Munger