"I run risk management. It just doesn't seem like a natural place to start cutting."
--Eric Dale (Margin Call)
Updated asset allocation as we enter the new year. In percent of all financial (i.e., 'paper') assets.
fixed income 1%
precious metals 26%
Stocks are primarily miners and 'special situations.' Precious metals are closed end funds that hold physical metal.
No shorts to begin the new year.