Given today’s general dearth of beaten-down assets outside of residential real estate and financial institutions, investing gradually probably won’t cause you to miss great opportunities. But it will keep you out of trouble and ensure that you have capital with which to take advantage of any bargains ahead. In my book, going slow here makes the most sense.

You can read the whole 12 pages here, I assure you it will be time well spent.

It is good to see my current thinking and portfolio stance validated, yet at the same time this train of thought is getting close to the consensus. Everyone is predicting a slow global economy until at least 2010. Can they all be right?