A relentlessly bad week for stocks…and now the worst December since 1931. The S&P 500 now down about 17% from its peak and close to bear market territory. Wes reviews the important concept of Participation vs Perfection when it comes to investing in stocks. As bad as markets are for now…economic data (for the most part) continues to hold up. Of course, if the economy does in fact hold up its important to note that market sell-offs not accompanied by a recession tend to be in the down 20% range…a level which we are already close to.