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Stocks are long term investments, 10yr+ So you should expect the possibility of a sideways market.
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If you didn't participate in it, what are you hedging?
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I would guess, longer positions held from before the past year to date period.

(As for me, I'm just hedging my rhetorical front lawn.)

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> If you didn't participate in it

But that's not what they said?

>> I didn't get to participate in much of that

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