Don't confuse brains and a bull market ...

I understand what your saying mate, I just mostly disagree. Each country has unique fundamentals (political, financial and social systems and stability) which makes it very hard to make even comparisons, imo. I very much doubt we'll see a drop in 50% on Australian houses for many, many suburbs. The demand is just too strong with limited liveable supply.

With regards "can succeed or fail based on external events outside of personal control". Well what about risk mitigation. That's in our control. Buying Below market value is in our control. Buying something that you can add value to is in our control. Having financial buffers is in our control. Having exit strategies is in our control.

I do see where you are coming from mate, I am just disagreeing but I respect your opinion.

 

But you never read about the ones that go belly-up never to be seen again,only the ones that make it then out of nowhere and sometimes without any warning the power of 5-10-40 plus goes the other way
in any market from collecting comics artwork gold bars old cars all experience the power of ten in reverse at some time ,then the superchargers hit the high speeds fans..