Portfolios are starting to look the way they used to.That is,they're starting to be worth something again.They have a way to go,but it's certainly been a relief to see them recover lately.The worry is,September and October are drawing near.Historically,these have been terrible months for the market.The contrarian could well have an advantage now.Contrarians are expanding their bond holdings,gold and cash.They suspect the early autumn could see a significant decline for equities,so they are buffering their holdings.Recent history makes it easier than ever to be a contrarian.You just don't want to have your assets knocked down to nothing again.You're warier than you ever thought you could be.
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