Tips for surviving a correction

[fenders53]

I'm pretty sure I'll hedge a little more in the future.  It's as tricky as any part of investing though.  You can spend a lot of money for insurance over time waiting to be right.  The whole thesis for my covered put selling income strategy is taking premiums from those buying "insurance".  I agree that the risk was most obvious last month Otter.  I used my cash position as a hedge of sorts this time, since I've felt equities have been overpriced for most of the past few years.  If I could have used the typical 60/40 model, I would do that and call it a day.  That just doesn't seem prudent with these bond yields.  I don't see the opportunity to buy many longer term bonds for years to come, but things change so who knows?  I think the house of cards will have to tumble before anything will change.        

Some of my recent investments will probably be early in hindsight.  I usually am.  I'll have to treat those with patience.  That is why I am trying to be disciplined and only buy quality now.  Patience is MUCH easier for me, if I believe in what you own.  I'm finally not forced to buy distressed stocks like MO, oil and very few others just because they are the only thing that looks reasonably priced.  I look at a stock like F and think, "well this surely looks like the end you dummy".    I know better than to go crazy doubling and tripling down.  Some of them end up being a sucker bet and you nullify the ones you got right.