But what was actually going on then was, as we now know, a remarkable opportunity to buy companies for net cash, with gold in the ground given away for free. The result, after the liquidation panic had cleared was a sling shot to profits. That account (NFTRH speculative portfolio) is +153% today and still above break even for 2011.
So, while I am enduring a thousand little paper cuts, managing risk (more efficiently than in 2008) and remaining rational amid the terror, I am also looking for another sling shot opportunity. It is important to remember that I am the guy who talks bearish before bearish becomes the fashionable thing, and bullish before it is all the rage. It is kind of how I am wired.
Okay, now where did I leave my bayonet.