Mate. Spent the evening and some of the middle of the night researching our friend, Virus, and trying to figure out what is likely to go down.
After hours of pontificating, it boils down to the following simple fact. I decided that the chance of the market being up over the next twelve months by a significant amount is pretty much zero. The chances of the market being significantly lower over the next twelve months are, imo, pretty high.
So, as a consequence, I took almost everything off the table this morning. Everything except some D2O and K2FOA was sold (no liquidity to offload what I have left).
Sounds drastic, I know. You know I don't panic, but imo, and you know my background, V is the real deal. Don't underestimate it's spread or the damage to the world economy it will cause. If I am wrong, and I hope I am, I still don't see the market shooting the lights out, so I don't see much opportunity cost. If I am right, well, a world recession, or worse, is heading our way.
So now I am pretty much on the sidelines, and all cashed up. A position I am unfamiliar with.
Trying to decide if I should buy gold
or BBOZ........ I think the smart thing for me is to do nothing. But, as you know, doing nothing is something I find very hard to do.
