Hi Menta
I've hedged my bets by keeping the super cash box ticked for most of the last 11 years and for ensuring that cash actually means cash in the fund concerned. I don't see any need to pick bottoms too quickly because unlike 2007, black swans are global and will take some time to fully show themselves.
I'm not an expert on high yield spreads. I would have thought that the greater the spread the greater the expectation of junk bond default...…. but I guess that the grasshoppers will continue to play until winter actually bites.
I've heard some commentary about so-called smart money getting out of equities. As I see it, only a very select group of small caps can sail against such wind.
cheers
