Vitaliy Katsenelson’s Contrarian Edge: This should be your No. 1 criterion when buying stocks now

Investing is a forward-looking endeavor. Investors need to build a portfolio for the economy that lies ahead, not the one in the rearview mirror.

Unfortunately, the view of the road before us is murky at best. History is not very helpful either, as the global quantitative-easing experiment has never been attempted at its current magnitude. How can investors prepare for the consequences of such engineered, inorganic growth?

To paraphrase Warren Buffett, “To finish first, first you need to finish.”

The stock market today requires that you build an “I don’t know” portfolio — a high-quality group that is equipped for any conditions.

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