From the post;
The first two conversations were along the lines the most basic elements of portfolio construction in terms of equity exposure versus fixed income and how an emergency cash balance fits in. I discussed the extent to which every so often the stock market goes down a lot scaring the hell out of a lot of people but that it always comes back–the variable being how long it takes to come back. I also talked about how certain bond funds will likely get crushed if interest rates ever go back to normal levels.
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The picture is from the road to Hana on Maui. There is what amounts to a shopping center a mile or two before town. There are three or four shacks with stores including this little espresso house.