... embrace risk and stay highly diversified!Howard, So few post to this board who actually buy their own bonds. So it's good to hear from you. When the sand hits the fan, diversification (as it's conventionally understood, i.e., spreading assets among things that have low correlations with each other) isn't going to offer protection, and it never has before, because when markets are under stress, correlations tend toward 1.0. Instead of attempting to create robustness through diversification, protection from Bernanke might be obtained by fading him. That's what requires some thought (and a lot of discipline to implement). Charlie
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