brewer12345
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Mar 6, 2003
- Messages
- 18,085
It is quite possible that as long as this stays a small, sleepy market where people keep playing by the same rules, it will be a safe source of return. However, the things that make it safe are behavioral rather than contractual and they can change, possibly without warning. The big mistake I made in not catching the crazy turn into the sewer of the mortgage markt is that I underestimated how foolish people would become with their homes and how draconian they would be once things were not stacked in their favor. Church bonds might be and remain a good place to park money, but the lack of contractual protections make me uncomfortable.