Hi Danielle, I wonder if shorting bonds isn't such a bad idea. What if we are seeing a bottom in yields and conversely a top in value? I have been reading Martin Pring's book "the investors guide to active asset allocation" which seems to mesh quite well with your philosophy of investing in etf's and trying to avoid the buy and hold mentality. One graph in particular struck a cord that got me to wondering. When one looks at a long term graph of government bonds, there is a long steady uptrend in price and downtrend in yield over the last 20 years. Do you have any insight into what flipped the switch 20 years ago and the reverse 20 some years before that? Is it possible that the volatility we see in 2008 is another major turning point in which people lose confidence over the long term and thus bond and equities are beginning the next 20 year bear cycle where values stagnate but yields (and interest rates) rise? Would this mean that a loss in risk appetite will reverse relative yields and now average equity dividend yields will exceed bond yields due to the implied risk that comes with holding equities (i.e. a switch in environment from growth to value investing)? This seems to back up what many analysts are saying, although I'm sure one can find ideas to support any argument in such volatile times. I'm a young investor with a 20+ year outlook ahead of me. Should I ignore the really long term trends and just focus on investing the 4-7 year business cycle? I don't have the time or ability to become a value investor if the growth investing paradigm has run its course. Sorry for the long winded note, I'd welcome any words of wisdom from someone well studied in historical markets. Thanks! Martin