S&P 500 approaches historically high despite warnings of a recession by analysts and central banks. The European Central Bank, with its President Christine Lagarde, states that the economy of the euro area diverges from the base scenario due to energy costs, but does not justify an increase in interest rates. Markets discount the future while analysts interpret tomorrow through yesterday. Charlie Munger had condensed philosophy: «When I don't know what to do, I don't do anything.»Disciplined inertia often proves the most profitable attitude for long-term investors.