Subject: Re: Some Thoughts - Maybe Too Many
A $350B equity portfolio is reduced by 20% and short term treasuries are increased 150%, in under a year. It's a big move for someone I had considered patient. It could be as simple as not liking the size of BAC and AAPL positions, but not redeploying into equities and taking the 5% on treasuries instead is meaningful, given the capital gains bill. He could have sold more slowly, and even if he was really unenamoured with Apple, there are non-treasury alternatives.

What would you suggest instead? We are talking about over $100B.

(I've already suggested buying all of Chubb, ~$50B, and the rest of Occidental, ~$50B.)