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Dear fellow investors, We are approximately six to twelve months into a bear market in stocks and bonds. This bear market is the natural consequence of the financial euphoria episode which preceded it. How do wise long-term investors handle these cold stretches in the stock market? Why is it worth fighting through these stock market corrections? How should we as investors behave in a process which takes time, courage and patience? My Dad, Captain Harold Smead, was what I’d call a successful poker player and gambler. As a ship pilot, he was paid to be risk-averse on behalf of the steamship comp…