I agree with you on the following: If we practiced buying on a dip since the start of this bull market in 2009, we should have accumulated significant wealth by now. QQQ went up 17x since 2009 even without buying on a dip. The question is, how many of us become wealthy practicing buying on a dip?
Unless the BRICs want to relinquish control of their currency control there will be no new reserve currency. As we've seen from the GFC, when everything is rosy they all want global flows and the moment it turns sour they reinstitute currency controls (Thailand during the real estate crisis in 1997, South Korea & China after the GFC, etc.)
tell me about 1997, i was in the middle of it. brics are not stopping usd/euro in circluation. what they are doing is to build a parallel track when their transactions are not invovled with the g7. india buys oil from russia settled in chinese yuan, no more usd/euro middleman fees. my guess is that it will start with large commodity trades without using money, just central bank ledgers offset. everyone gets what they want, buyers will pay local currency and receive the goods, sellers will receive their own local currency ang develier goods.
One has to be lucky and dumb. Lucky to be in this 15 year bull market, but dumb enough to not try to time the market.
Why? When an index tanks slowly scale into it. When an index is at all time highs slowly lighten up. Diversify and have some dry powder to take advantage