Introduction

The 2008 financial crisis was scary. So was the 2011 European crisis, the 2000 tech collapse, the 1987 market crash and the 1974 recession. Media pundits warned that the markets may never recover. Fearful investors ran for the exits. Yet, in each case, markets regained their equilibrium in relatively short order, producing stellar gains along the way. The question is why do some investors sell at the bottom while others get into position for a recovery? And why do most sit on the sidelines while a select few profit from historic rebounds? We believe successful investors have sound investment principles to guide their decisions and the experience to act with confidence. At Cumberland, we’ve been refining our investment principles through more than four decades, including five major economic cycles and innumerable ups and downs in the market. These principles have given us the courage to capitalize even while others are afraid and keep our clients a step or two ahead of the market for a very long time.

…

Click to download the report: