$SPDR S&P 500 ETF Trust(SPY)$ $Invesco QQQ(QQQ)$  Managing risk can seem pointless when the market's going up. Trimming winners, keeping cash on the sidelines, paying for hedges that don't do anything—until they suddenly do on some random Tuesday. The street tends to cheer when you skip paying that premium. I'd rather set my own terms early, before the bill is due.

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