Every Crisis Feels Unprecedented
Every generation thinks its crisis is unprecedented. Every generation is wrong about that part.
The names change: inflation, debt, war, a banking panic, a technology bubble, a housing collapse, or a market that refuses to behave as expected. But the recurring mistakes are familiar. People extrapolate recent trends, confuse a long bull market with skill, and assume that the next recovery will look like the last one.
History is not a promise that every asset recovers quickly. It is a reminder that preparation matters more than prediction. Cash, manageable leverage, diversified exposures, and a written process create options when the consensus is forced to sell.
The investors who survive difficult regimes are rarely the ones who forecast every turn. They are the ones who can keep making decisions when the story changes. The crisis may be new; the need to be prepared is not.
