The Russians knew in July.

Roubini’s been lecturing and writing since 2006 (?) or thereabouts.

I’ll be (slowly) letting this go, since I have no new thoughts to add, but I would not be nearly as angry if this had been confined to a “normal” 15%-20% correction, instead of the 40%-50% loss (it’s not over yet) coupled with the magnitude of the bailout yet to be determined.

But that’s OK. Not being a young person, I repositioned some of my portfolio into cash just as the sun started to break through the clouds.

Buy high. Sell Low.