Portfolio Insurance, page-5

Absolutely agree WR888!

That is a BIG part of this game: The price one pays. A good equity at a more than fair sp leaves little upside while increasing downside risk. That is a BIG segment of these markets, and a part of my thesis for investing in ALF, calendar, a possible Trump Dump, are others. Cohn's effect vis-a-vis tax reform and being the adult in the room could provide upside.

Bearing the above in mind; and that's FAR from all the factors, eg. North Korea; my thinking on buying another long equity keeps evolving (another way of saying muddied thinking).

Good Luck to all.

OV