Subject: Re: indexes down another 1.5-2 percent
It hasn't dropped more because many investors still think this is temporary.

Hmmm, their belief that it's temporary may itself be temporary.

As I mentioned some time back, I bought a few BRK puts a while back for fun. I recently closed those for a tidy profit, and instead bought puts against US small caps. They always get whacked hardest when poop hits the fan. If such poop does fly, it would be nice to have something "up" to feel chipper about.

Any other thoughts on what might plummet? I note that despite the recent little dip of 5-6%, JNK is at the same price as it was 1.5 to 2.5 years ago. That seems wrong, somehow.

Jim