No, I can't let that happen. So an update about my thinking in terms of investing right now. I am still holding a lot of cash and even more "near cash" in the form of 3-6 month FDIC insured CDs, spread out at a few different banks. I have maintained my exposure to the municipal bond market through a relatively short duration (5 year-ish) managed account, which gave me a scare last fall and subsequently rebounded nicely. I am concerned about a lot of state and local finance issues, so I am taking the popular advice and staying national, with only about 15% of my muni bonds in Massachusetts. So Alaska, Maine, Virginia - keep your books in order!
And I still have some equity exposure - 10% in my taxable accounts, much more in the retirement accounts. I'd add to it if I felt better about whether we are at the bottom or not. I easily could see this market testing the lows of November and then running down another 10-15% in the next few months. After that the road back will be fairly long, fairly slow and full of opportunities to make some money investing in good companies, and also to lose tons of money. And Uncle Sam's hand will rest more heavily on everyone, mostly for ill, and will eventually reach deeper into our pockets, which is always for ill, in this closet libertarian's book.
Meanwhile, we are weathering things well enough in this house, thank God, to allow us to enjoy some interesting meals out lately. I heartily recommend Rincon Limeno in East Boston for excellent Peruvian food (try the ceviche, the roast chicken and anything fried) and Jojo Taipei in Allston (Three Cups Tofu, Sour Cabbage and the Taiwanese Noodles, which Roxanne inhaled). On the beer front, both Publick House Provisions in Washington Square, Brookline and Wine Gallery on Route 9 in Brookline, near Brookline High, are worthy of your patronage. Very different vibes and selections - your domestic micro six pack needs will be met with a smile at Wine Gallery, while the very hip PHP is the only place in town that I know of to consitently carry De Koninck - the true king of beers.
