15 Jul 2022 Mairs & Power: Examining Inflation, the Bear Market, and Economic Cycles ( Portfolio )

"Despite periodic declines, stocks have remained the best asset class for maintaining purchasing power and building wealth over the long term."

"Cycles are inevitable, and there will be times, typically of short duration, when the economy weakens and the market contracts. History shows that the best strategy for handling bear markets is to focus on the long term and invest in growing businesses with durable competitive advantages."