I've never before sensed such capital preservation concerns as with todays posts.
What you are reading has always been Merlin's position, I believe, he is much more conservative than I am. But, You are watching me change my mind in "real time,"
Three months ago, when I decided to retire; I thought I would pull out one year's income and do exactly the same investment strategy as before with the rest.
Two things happened to change my mind.
1) I went through the 20% dip in Q the first week of this year.
2) I looked at the amount of money I had on hand, and realized that I had no need to make any more money. I could afford to take it all off the table, but it at interest, and still have more money available to spend each year than I would ever spend. Inflation could cut my income by 1/2 over the next 30 years, and I would still be OK.
So I looked at my investment strategy, and said, "why take this much risk? If I have only 7 Million in my investment account on Jan 1, 2001, instead of 8 Million, what the hell difference will it make to me? None!"
That is why I am taking 22% off the table next week.
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