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The saying “Risk equals reward” is incomplete on its own. For example, were you to say, “Risk equals reward, but not all risks are rewarded”, you’d be correct (that’s a topic for another time). Furthermore, there’s a time factor involved in the reward side of this simple equation. We’d say, “Risk equals reward. But you must wait for it.” How long? You never know. And therein lies the risk. While we’ve recently hit new highs (February 26th), the road to these levels has been peppered with periods of no growth, or no reward for the risk – periods that can …