Managing Editor, The Black Swan Portfolio
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I’m Bram de Haas. I seek downside protection and upside optionality through idiosyncratic, truly differentiated investments. Investing, like poker, is all about taking calculated risks. I research investment opportunities far off the beaten path for my benefit and that of my subscribers. ...more

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Why I'm Slashing My S&P 500 Exposure
7 years ago

Really good question Fabrizio. Maybe it's helpful to realize historically the range for the U.S. has been between 35% and 149%. Obviously 132.9% is much closer to the high end of the range.

In this article: SPY, SPX
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