Ann: Daily share buy-back notice - Appendix 3E, page-25

Money is safe in un-leveraged tangible assets. Tangible assets can't disappear over night like intangible assets, ie rights. Shares are just the right to a future income stream, derivatives are even worse as you don't even hold rights directly. When the future is unpredictable then those rights carry uncertainty which could cause that income stream to become insufficient to meet liabilities so that right can be lost forever. A un-leveraged tangible asset like a house, property, gold, collectable car, fine art, jewellery etc may lose some value while the future is uncertain but once certainty is restored its value relative to all other things around it will restore in a relative sense, ie if all asset prices come down as a result of the asset bubbles bursting those tangible assets I mention will be worth the same relative to everything else once asset prices stabilise at their new level. Wealth is not and absolute thing, it is a relative concept. The man on a desert island who brought the knife or cooking pot is wealthier than the man who brought his new iphone (that does not have reception) despite the iphone costing much more than the knife or cooking pot.Esh