Subject: Re: Getting Defensive?
Not quite sure what I will do - sell some stocks, buy some put options

Re put option the last years I several times thought similar: "Unsustainable", "Too expensive", "Exuberance". I acted on that --- and lost each time, with single stocks (TSLA) and the index. I had to realize that when I, with my sceptic mentality think "This can't go on", it probably will go on --- for far longer than I think possible.

So personally I am little tempted to even do the opposite and for once opportunistically and contrary to my conviction re valuations "run with the herd" (with a tiny little play money only, just for entertainment purposes).

So although I very much feel reminded on the year 2000 with respect to the market in general: From my modest experience with them I'd recommend to stay away from buying puts if the market goes up and one thinks "too expensive... has to come down... unavoidable". That one thinks that and that it's reasonable thinking is not a good enough reason for such a move --- at least not for the market in general.

I am not sure whether it makes sense but after having repeatedly been burned with puts, while I have no problems to buy calls when things are supposedly cheap, I see buying puts when they are supposedly expensive very different now.

And regarding Berkshire: Why not instead of thinking about such a risky move selling covered calls instead, the much more conservative option?