Current AA

"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.

stocks                  11%
fixed income         1%
precious metals   26%
cash                     62%

Stocks are primarily miners and 'special situations.' Precious metals are closed end funds that hold physical metal.

No shorts to begin the new year.