These are the only long positions I feel are good values right now. There will come a time when the overall U.S. market is a great place to invest in. But we’re not there yet.

There’s a lot of bad business models and practices we need to kill first. The financial system needs to be demolished and rebuilt. There’s tons of necessary reform to be done. But will it get done right? I’m optimistic, but will mostly be on the sidelines until the picture is clearer.

I’ll keep holding decent-sized short/put positions in CRE (mostly SPG) and banks (JPM). But government intervention is the big nasty unknown. And I need to figure out how this flation issue is gonna play out, ASAP. Cause right now I’m torn about precious metals, like a lot of others.