When meaning “should be in cash”..is…as opposed to being in the major indexes, mutual funds/ETFs tied to them or influenced by them, etc. Yes, we’re still very comfortable with LI companies and the LI averaging down points. We placed some averagings at very wide points just to take advantage of huge sell-offs in order to get pricing that we’d otherwise never likely get. So, it’s how we make market downtrends our friend. If we didn’t have the downtrend, we’d never been able to get down to some of these averaging down zones. So, we’re allocating just like Buffett would do.
