One thing I have actually learned about difficult times, if there’s anything to learn from them at all, is you learn who the toughest and realest people are. You also learn who the weakest are. The ones who played you the entire time.

As of late, I have been somewhat outspoken toward certain figures in our society. The ones who have taken the latest bull market to gloat, write books, and to constantly pound their chests about how good they are. What I find strange about these people is that when times get tough, they disappear. They take off. In my view, these people pillaged for themselves in the good times, just to run away with the loot in the bad. Many CEOs during the Great Financial Crisis proved to be experts at this.

Anyone can show off in a bull market. It is not hard.

Practically no one shows off in a bear market.

So when markets are dropping or cratering, I always turn my attention and remember those who celebrated on the way up and then went silent on the way down. These are the people I want to *avoid* because I do not believe in their moral or ethical code. The people I look for, the people I want to surround myself with, are the people who remained cool on the way up and even cooler on the way down. I trust people who have that kind behavioral and moral control of themselves.

That is all for now.

I will be back with more later.