This Time It’s Different… That is what people always say when justifying high market valuations, speculative investments, or ignoring historical risks. Those words have been heard before every market bubble: the tech boom, the housing bubble, and even earlier episodes like the dot-com era or the 1929 crash.

We are in a time where market prices seem disconnected from fundamentals. Valuations are high, and volatility is low. Yet investors continue to pile into riskier and riskier assets, convinced that “this time it’s different.”

It rarely is.

History tells us that while the world changes, human behavior remains consistent. Fear, greed, and overconfidence still drive markets. That’s why we remain committed to disciplined investing grounded in fundamentals — value, quality, and long-term thinking.

Avoiding fads, staying diversified, and focusing on risk-adjusted returns isn’t glamorous, but it works.

Sincerely,

Katz Family Financial