I agree. I doubt that we'll see sub 69k again when the bear market hits. Expected 18k last cycle because it was the previous high. 15k came at a surprise but it didn't last long and we went straight back to the 108k range. By that logic and assuming that we will ever see a ~85% bear market pullback, the firm should be fine. "should"

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* "straight back to the 18k range" <- this is why we need edits lol

But we’ve never had massive institutional long term allocation before. This will be interesting to see how a post parabola plays out

Alright thanks bro! Very helpful