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Strategies & Market Trends : Effective Collaboration - Team Research for Better Returns:

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To: bruwin who wrote (3682)	9/29/2014 2:01:48 PM
From: The Ox	Read Replies (2) of 8288

Thanks! I know that my view is not held by many out there. Separately and unfortunately, I know too many people who were completely taken out by the collapse in 2008-09. I had a friend who was in the mortgage industry when Lehman was taken out and he called me the day it happened. He said I was the only one he knew that said one of the major banks was going to go down. I told him that about 9 months before it happened. At that time I thought it would be Citi. At any rate, thanks in great part to many of the people involved here on SI, I was solidly in front of the curve. That same friend called me crying the day they took out Bear. His financial life was in ruins and he called once again to say I saw the writing on the wall before anyone else he knew. There was no comfort whatsoever in "knowing I was right". We used to have fun but heated arguments on the use of leverage and how people should handle their individual finances. Like way too many back then, being leveraged created the worst possible outcome for him and his family.

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