[patientrenter]

equalizer, if those big, rich, nasty banks, 100% of whose money belongs to their depositors or investors (that’s you and me) take losses on a massive scale when they lend more than, say, 50% of the purchase price of a home, then guess what, minimum required downpayments will become 50%.

Do you want to live in that world? I’d love it, but I have the impression that the people who complain the most about an “excessive” emphasis on personal responsibility would do very poorly in that new world.

Patient renter in OC

[patientrenter]

equalizer, if those big, rich, nasty banks, 100% of whose money belongs to their depositors or investors (that’s you and me) take losses on a massive scale when they lend more than, say, 50% of the purchase price of a home, then guess what, minimum required downpayments will become 50%.

Do you want to live in that world? I’d love it, but I have the impression that the people who complain the most about an “excessive” emphasis on personal responsibility would do very poorly in that new world.

Patient renter in OC

[patientrenter]

equalizer, if those big, rich, nasty banks, 100% of whose money belongs to their depositors or investors (that’s you and me) take losses on a massive scale when they lend more than, say, 50% of the purchase price of a home, then guess what, minimum required downpayments will become 50%.

Do you want to live in that world? I’d love it, but I have the impression that the people who complain the most about an “excessive” emphasis on personal responsibility would do very poorly in that new world.

Patient renter in OC

[patientrenter]

equalizer, if those big, rich, nasty banks, 100% of whose money belongs to their depositors or investors (that’s you and me) take losses on a massive scale when they lend more than, say, 50% of the purchase price of a home, then guess what, minimum required downpayments will become 50%.

Do you want to live in that world? I’d love it, but I have the impression that the people who complain the most about an “excessive” emphasis on personal responsibility would do very poorly in that new world.

Patient renter in OC

[patientrenter]

cooprider, I think you asked me months ago what I was investing in. I forgot to reply then, and this just reminded me. I think at the time I laid out my basic portfolio, and you were just asking about my hedges. Anyway, in brief here it all is again:

Basic portfolio =
1. 401k and other tax-sheltered investments = mostly fixed income stable value investments. Done for diversification and risk-aversion and tax minimization reasons. This is my “reserve fund”.

2. Stocks = 10% in V’guard domestic index fund + 7.5% in V’guard int’l index fund + rest in a personally picked high-dividend 50-stock portfolio diversified across continents, industries, and company sizes, with a bias towards small stocks. I live on the dividends from this.

3. “Hedge fund” of about 10% of my assets, that is invested highly specualtively, or to hedge dangers in my basic income portfolio. Right now I have JPY/GBP and JPY/EUR cross-currency futures, in favor of the Yen, split equally, for a nominal amount equal to my total assets, or 10 times the amount in the “hedge fund”.

4. Housing fund. This is now between 7% and 9% of my assets and still building, but should be enough to pay cash for a 2+2 condo in a non-gang area when the property market is nearer the bottom.

I am kicking myself a little for not thinking harder about Chris Scoreboar’s late 2007 advice to short the US equity market for the first quarter of 2008. Probably will turn out to be a very good call. I even kinda agreed with it, but hadn’t spent enough time thinking it through to act. Maybe I’ll add S&P500 futures (long/short) to my quiver for next hunting season.

Patient renter in OC

[patientrenter]

cooprider, I think you asked me months ago what I was investing in. I forgot to reply then, and this just reminded me. I think at the time I laid out my basic portfolio, and you were just asking about my hedges. Anyway, in brief here it all is again:

Basic portfolio =
1. 401k and other tax-sheltered investments = mostly fixed income stable value investments. Done for diversification and risk-aversion and tax minimization reasons. This is my “reserve fund”.

2. Stocks = 10% in V’guard domestic index fund + 7.5% in V’guard int’l index fund + rest in a personally picked high-dividend 50-stock portfolio diversified across continents, industries, and company sizes, with a bias towards small stocks. I live on the dividends from this.

3. “Hedge fund” of about 10% of my assets, that is invested highly specualtively, or to hedge dangers in my basic income portfolio. Right now I have JPY/GBP and JPY/EUR cross-currency futures, in favor of the Yen, split equally, for a nominal amount equal to my total assets, or 10 times the amount in the “hedge fund”.

4. Housing fund. This is now between 7% and 9% of my assets and still building, but should be enough to pay cash for a 2+2 condo in a non-gang area when the property market is nearer the bottom.

I am kicking myself a little for not thinking harder about Chris Scoreboar’s late 2007 advice to short the US equity market for the first quarter of 2008. Probably will turn out to be a very good call. I even kinda agreed with it, but hadn’t spent enough time thinking it through to act. Maybe I’ll add S&P500 futures (long/short) to my quiver for next hunting season.

Patient renter in OC

[patientrenter]

cooprider, I think you asked me months ago what I was investing in. I forgot to reply then, and this just reminded me. I think at the time I laid out my basic portfolio, and you were just asking about my hedges. Anyway, in brief here it all is again:

Basic portfolio =
1. 401k and other tax-sheltered investments = mostly fixed income stable value investments. Done for diversification and risk-aversion and tax minimization reasons. This is my “reserve fund”.

2. Stocks = 10% in V’guard domestic index fund + 7.5% in V’guard int’l index fund + rest in a personally picked high-dividend 50-stock portfolio diversified across continents, industries, and company sizes, with a bias towards small stocks. I live on the dividends from this.

3. “Hedge fund” of about 10% of my assets, that is invested highly specualtively, or to hedge dangers in my basic income portfolio. Right now I have JPY/GBP and JPY/EUR cross-currency futures, in favor of the Yen, split equally, for a nominal amount equal to my total assets, or 10 times the amount in the “hedge fund”.

4. Housing fund. This is now between 7% and 9% of my assets and still building, but should be enough to pay cash for a 2+2 condo in a non-gang area when the property market is nearer the bottom.

I am kicking myself a little for not thinking harder about Chris Scoreboar’s late 2007 advice to short the US equity market for the first quarter of 2008. Probably will turn out to be a very good call. I even kinda agreed with it, but hadn’t spent enough time thinking it through to act. Maybe I’ll add S&P500 futures (long/short) to my quiver for next hunting season.

Patient renter in OC

[patientrenter]

cooprider, I think you asked me months ago what I was investing in. I forgot to reply then, and this just reminded me. I think at the time I laid out my basic portfolio, and you were just asking about my hedges. Anyway, in brief here it all is again:

Basic portfolio =
1. 401k and other tax-sheltered investments = mostly fixed income stable value investments. Done for diversification and risk-aversion and tax minimization reasons. This is my “reserve fund”.

2. Stocks = 10% in V’guard domestic index fund + 7.5% in V’guard int’l index fund + rest in a personally picked high-dividend 50-stock portfolio diversified across continents, industries, and company sizes, with a bias towards small stocks. I live on the dividends from this.

3. “Hedge fund” of about 10% of my assets, that is invested highly specualtively, or to hedge dangers in my basic income portfolio. Right now I have JPY/GBP and JPY/EUR cross-currency futures, in favor of the Yen, split equally, for a nominal amount equal to my total assets, or 10 times the amount in the “hedge fund”.

4. Housing fund. This is now between 7% and 9% of my assets and still building, but should be enough to pay cash for a 2+2 condo in a non-gang area when the property market is nearer the bottom.

I am kicking myself a little for not thinking harder about Chris Scoreboar’s late 2007 advice to short the US equity market for the first quarter of 2008. Probably will turn out to be a very good call. I even kinda agreed with it, but hadn’t spent enough time thinking it through to act. Maybe I’ll add S&P500 futures (long/short) to my quiver for next hunting season.

Patient renter in OC

[patientrenter]

cooprider, I think you asked me months ago what I was investing in. I forgot to reply then, and this just reminded me. I think at the time I laid out my basic portfolio, and you were just asking about my hedges. Anyway, in brief here it all is again:

Basic portfolio =
1. 401k and other tax-sheltered investments = mostly fixed income stable value investments. Done for diversification and risk-aversion and tax minimization reasons. This is my “reserve fund”.

2. Stocks = 10% in V’guard domestic index fund + 7.5% in V’guard int’l index fund + rest in a personally picked high-dividend 50-stock portfolio diversified across continents, industries, and company sizes, with a bias towards small stocks. I live on the dividends from this.

3. “Hedge fund” of about 10% of my assets, that is invested highly specualtively, or to hedge dangers in my basic income portfolio. Right now I have JPY/GBP and JPY/EUR cross-currency futures, in favor of the Yen, split equally, for a nominal amount equal to my total assets, or 10 times the amount in the “hedge fund”.

4. Housing fund. This is now between 7% and 9% of my assets and still building, but should be enough to pay cash for a 2+2 condo in a non-gang area when the property market is nearer the bottom.

I am kicking myself a little for not thinking harder about Chris Scoreboar’s late 2007 advice to short the US equity market for the first quarter of 2008. Probably will turn out to be a very good call. I even kinda agreed with it, but hadn’t spent enough time thinking it through to act. Maybe I’ll add S&P500 futures (long/short) to my quiver for next hunting season.

Patient renter in OC

[patientrenter]

So equalizer (and Marion), if an event causes lots of damage, and the person who suffers most from the damage is a sympathetic character, and another (innocent) party is rich and unsympathetic, then there should be a payment from the rich unsympathetic entity to the sympathetic person?

You know those materially poor countries that can’t seem to get their economic act together because their legal system is not based strictly on personal responsibility? Well, there’s no magic reason we couldn’t get there too if we fall too easily for these “big rich corporations vs nice poor people” visions of our society.

Patient renter in OC

[patientrenter]

So equalizer (and Marion), if an event causes lots of damage, and the person who suffers most from the damage is a sympathetic character, and another (innocent) party is rich and unsympathetic, then there should be a payment from the rich unsympathetic entity to the sympathetic person?

You know those materially poor countries that can’t seem to get their economic act together because their legal system is not based strictly on personal responsibility? Well, there’s no magic reason we couldn’t get there too if we fall too easily for these “big rich corporations vs nice poor people” visions of our society.

Patient renter in OC

[patientrenter]

So equalizer (and Marion), if an event causes lots of damage, and the person who suffers most from the damage is a sympathetic character, and another (innocent) party is rich and unsympathetic, then there should be a payment from the rich unsympathetic entity to the sympathetic person?

You know those materially poor countries that can’t seem to get their economic act together because their legal system is not based strictly on personal responsibility? Well, there’s no magic reason we couldn’t get there too if we fall too easily for these “big rich corporations vs nice poor people” visions of our society.

Patient renter in OC

[patientrenter]

So equalizer (and Marion), if an event causes lots of damage, and the person who suffers most from the damage is a sympathetic character, and another (innocent) party is rich and unsympathetic, then there should be a payment from the rich unsympathetic entity to the sympathetic person?

You know those materially poor countries that can’t seem to get their economic act together because their legal system is not based strictly on personal responsibility? Well, there’s no magic reason we couldn’t get there too if we fall too easily for these “big rich corporations vs nice poor people” visions of our society.

Patient renter in OC

[patientrenter]

So equalizer (and Marion), if an event causes lots of damage, and the person who suffers most from the damage is a sympathetic character, and another (innocent) party is rich and unsympathetic, then there should be a payment from the rich unsympathetic entity to the sympathetic person?

You know those materially poor countries that can’t seem to get their economic act together because their legal system is not based strictly on personal responsibility? Well, there’s no magic reason we couldn’t get there too if we fall too easily for these “big rich corporations vs nice poor people” visions of our society.

Patient renter in OC

[patientrenter]

pabloesqobar, you didn’t ask for a moral lesson, just an assessment of how likely it was that your friend could successfully defraud the city. But seeing this sure doesn’t make me want to vote for any new low-income housing assistance from any level of government, i.e. from my pocket.

Patient renter in OC

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