Subject: Re: What Did You Buy Today?
I am more than 75% in cash or liquid equivalents outside of retirement accounts and I did not buy anything. My selling was done long ago.

The market is still priced above historic valuations, and it's hard - as someone stated earlier, as bullets are still flying - to assess the damage. We are watching a Steve Bannon and Curtis Yarvin driven destructive realignment of the existing global power structure. Unfortunately, the US is burdened with this lunatics and other global powers are not, and they continue to capitalize on our mistakes. And for those that missed the joint response from China, South Korea, and Japan to our tariffs - these increasingly persistent realignments are already happening.

It's just a terrible time. It's hard to think about investments while watching the Library of Alexandria burn. I think we are watching permanent impairment of economic productivity along with a marginalization of the USD for a longer time than many of us will be alive.

There are possible ways out before start incremental and broad purchases. I'll be looking for business resiliency over valuation this time. So XOM, WMT, backhaul telecom... the last bills that people and corporations will cut, and have limited exposure to currency fluctuations or trade. I may look for more leveraged companies than usual, as long as maturities are further out, also, as they may be able to repay their debts with devalued dollars in the future. I will likely devote some to non-US equities but probably via fund or ETF to spread risk.