Money is fleeing to safety, economic growth is fizzling out and political tensions are always just a spark away from igniting, yet U.S. stock indexes are reaching new highs. For those with the guts to stay invested at a time like this, the logical strategy is to buy the margin of safety offered by value stocks, an approach Seeking Alpha contributor Mario Glogovic outlines in a recent article. This podcast (5:40) extols the virtues of remaining cautiously pessimistic by staying invested yet armed with lots of liquidity, in the same way that not being too greedy benefits investors in giddier times. In other words, it rejects being all-in or all-out at different phases of the market cycle. Learn more about your ad choices. Visit megaphone.fm/adchoices