The Paradigm Shift That Altered The Odds of Investing

Looking at a chart of the S&P 500 index from 1960 to 2013, it doesn’t take a rocket scientist to recognize that the early 90’s was clearly an inflection point of some new trend-setting phenomenon or paradigm shift relative to investing. In my opinion, this is the point where the rational investing paradigm of old morphed almost overnight into the irrational speculative paradigm investors have all witnessed the past 20 years.