Dear Mr. Market:

Ah, Mr. Market, you’ve never been one for subtlety, have you? We’ve all grown accustomed to your erratic behavior, but these past few weeks, you’ve outdone yourself. The dizzying heights we’ve climbed recently have turned into a sharp, gut-wrenching descent. It’s like we were steadily walking up the stairs, only to realize we were stepping into an elevator shaft, and now gravity is having its way with us.

The Stairs Up: Slow, Steady, and Full of Hope

For the past year, we’ve been witnessing a remarkable climb in the market. Fueled by optimism, the scent of economic recovery was in the air. Tech stocks were soaring, companies were beating earnings expectations, and the Fed’s steady (or perhaps stubborn) hand reassured us that we were on fairly solid ground. Like the patient climb of a seasoned mountaineer, each step forward felt measured, deliberate. Investors were content, seeing their portfolios grow incrementally with each passing day.