VLT - Everyone Wanting To Buy Suggests The Bear Still Prowls

Everyone Wanting To Buy Suggests The Bear Still Prowls

"If you own 10% equities, as we do, and the market falls 100%, you will lose 10%. That said, you have 90 cents on the dollar to buy equities for free."

- Michael Lebowitz

Let me explain his comment.

Last week, we wrote a piece titled: Risk Limits Hit. When Too Little Is Too Much in which we discussed reducing our equity risk to our lowest levels.

For the last several months, we have been issuing repeated warnings about the market. While such comments are often

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