Why are puts the only thing you think of? I’ve been 100% out of stocks for a year, holding gold and a short term bond fund (SCHO). The bond fund is strong in the the deflationary scenario while gold will go down with everything else, just not as much as stocks. Gold is strong in the debasement scenario, while at least the bond fund pays a monthly dividend that about as high as it has been in about 25 years. When gold has gone up too aggressively, I’ve sold it off and increased the bond position. When gold has traded sideways or had a small correction, I’ve sold the bond fund to increase the gold position. By doing this, I’ve beat all three stock indexes by about double (almost triple the Dow Ind) for the past year.
