I cannot totally incorporate your thoughts on this complex subject area into my own thinking because...

Fair enough! Probably best to assume that they're not all valid anyway.

I'm not sure I can incorporate my thoughts either, but I decided in March "what the heck, let's just pull the trigger on getting out while the getting is good". In a few ways it's a different risk/reward calculus for someone living in the US (First they came for the foreigners...), and geopolitical concerns or no, I would likely have done different things if Berkshire had been cheap instead of richly priced at the time.

As I mentioned then, I do fully expect my reduction of US exposure to cost me money in foregone gains.

Though it hasn't yet, oddly enough--I'm beating the S&P nicely TTM and YTD despite averaging over 70% cash. Sometimes everything moves the direction you expect, and sometimes it's all the reverse. Smart can work, but lucky is better.

Jim

Berkshire Hathaway FAQ

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