[turbo6bar]

Schiff and Roubini were right, but their moves back then haven't proven brilliant. Schiff recommended international stocks. That didn't work out well. Roubini doesn't time the market (dollar averages). Essentially, you should follow the talk and not the walk.

The problem with the bears, like me, is being too optimistic. I sold off equities in fall 05, but I hung onto too many rental properties. I should have sold them all and taken the tax bite. I also tried to make a buck with put options on homebuilders and Citigroup. I was right about the direction, but wrong with the timing.