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Old 05-04-2012, 06:53 PM   #41
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One of the lessons of the crash for me is that the world is a much more volatile place than I had previously ascertained. That being the case, I have been taking steps to help lower my risk profile and not all of them have been portfolio related. So while I have taken to keeping more cash and CDs handy and I have become more disciplined about selling stuff that runs up to my targets, I have also moved to an area with much lower catastrophe risk and lots of handy open forest nearby. I have chosen to stay in a rock solid job I could do with half my brain rather than take risk chasing big money (which probably is not there anyway). I will likely refi my ARM to a 30 year fixed later this summer and hang onto the cash rather than take a 15 or seek to prepay. I will be learning to hunt this fall (never go hungry if you can quietly pick off the occasional "limb chicken"). And we are slowly building up a supply of stored food, water and ammunition (I will probably never have to buy .22 shells ever again). The vast majority of this is probably unnecessary, but it takes a fraction of 1% of my portfolio and if it cuts off a very unpleasant tail scenario it is well worth it.

"Neither my companion or I carry firearms on our persons. We depend on the goodwill of our fellow man and the forbearance of reptiles."

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Old 05-04-2012, 07:35 PM   #42
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I was having a pretty good evening, then I read that our resident 'seer' is saying
the world is a much more volatile place than I had previously ascertained. That being the case, I have been taking steps to help lower my risk profile and not all of them have been portfolio related.
and then I read this thread http://

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Old 05-04-2012, 10:32 PM   #43
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Originally Posted by Koolau View Post
Wasn't I naive? I just assumed when the housing bubble DID burst - and I too was certain it would - those who bought McMansions and the STOCKHOLDERS of the institutions who made it possible would be the ones to suffer. Silly me. Surely we learned our lesson back during the S&L crisis. Maybe not. YMMV

I didn't expect the US would bail out a company like AIG. It didn't even occur to me that someone would sell that much uncovered credit insurance and go that far under.

I didn't think we'd try to pay 100 cents on the dollar to F&F bondholders.
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Old 05-05-2012, 10:56 AM   #44
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Originally Posted by brewer12345 View Post
I got whacked along with everyone else, although I regained the investment money I lost pretty quickly. The collapse was broader and less predictable than I would have guessed. The biggest loss was my extremely lucrative job, but since I am now in a far more livable situation job-wise that turned out to be a blessing in disguise. Ah well.
The problem with being right is that you could not have anticipated the widespread bailouts that changed the course of our history. I suppose shorting banks would have been good but the bailout prolonged their decline by years.

Who would have guessed that Buffett would have made money by investing $5B in Goldman at the peak of the crisis?

(Of course, a move to God's country is not a bad consolation prize!)

For the fun of it...Keith
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