Subject: Re: OT: Predictions from US/Israel bombing of Iran
What would you regard as acceptable disaster insurance?

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[Y]ou'll probably lose all the money you put into such a strategy. It's probably not prudent capital allocation. Never stops me, though, because I'm slow learner. On rare occasion, it is a lot of fun...September 2008 was among my all time best months ever because of my hedging.

Thanks Jim. I appreciate your elucidation of the strategy, but I'm afraid it's a bit too complicated and attention-demanding for me. I was hoping for simple ownership of some value stocks that might mitigate a negative plunge. Thus far I've been relying on Berkshire's steadily increasing IV for a somewhat delayed recovery.

I must add that if you're a 'slow learner' then I'm fast in reverse. I suppose at age 85 that's not uncommon.

Tom