Sean, I listened to the interview and learned how well positioned we are with #1, #5 and #11. Although I did know that already, it was a confirmation. So thank you for posting it.
You're welcome. Yes, I look into the future (fundamentally) and see what is very likely and position ourselves for it. Downturns comes, corrections come, unemployment spikes, etc. and even though these things ALWAYS come usually every 7-10 years, most people invest like they won't come or will never happen again. Also, the act like they're helpless (with their investments) during those times. They're just not properly educated and prepared for those things. Just because those things happen doesn't mean our long-term net worth has to be subject to these tides.
Instead, we'll profit some by being in assets that benefit from downturns. And we'll benefit other ways by being able to average down on great companies, fundamentally...giving us lower average breakevens, lower average P/E's, higher average dividend yield %'s, as we use downside and volatility as our friend.
I wondered in 2007 if we wouldn't have been better off to take the hit and let the banks fail... looks like the chickens are now coming home to roost.