Markets "Overdue" for 10%-20% Correction?

Market Overview - The current market pullback is seen as a normal profit-taking phase, with expectations of a 10% to 20% correction within the next six months [2][3][4] - The market is considered overblown, and a correction is anticipated, potentially triggered by unforeseen events [4][5] Investment Strategy - Investors, particularly those nearing retirement, are advised to maintain a cautious approach, keeping a portion of their portfolio safe from market losses while diversifying [7][10] - Companies like Berkshire Hathaway, which hold significant cash reserves (over $380 billion), are positioned to capitalize on market downturns [8][9] Sector Analysis - The technology sector remains bullish long-term, despite recent pullbacks and layoffs in major companies like Amazon and Microsoft [14][15] - Utilities are highlighted as a stable investment, especially with the growth of data centers and tech companies [17] - Silver is suggested as a diversification opportunity, alongside gold, which is currently above the $4,000 level [18][19] Economic Concerns - There is a significant concern regarding the all-time high levels of credit card debt, with interest rates exceeding 20%, which poses a risk to the broader economy [21][22] - Consumers are refinancing low-rate mortgages into higher rates to manage credit card debt, indicating a potential economic reckoning within the next year [23]