NBBT Revisited.

To Which We Revisit the Concept of NBBT. {Next Big Bad Thing-pronounced Nibbit!}.

NBBT is the 500 pound guerrilla lurking in the room. We first discussed NBBT back in June of 2005 here: http://lumencapital.blogspot.com/2005/06/next-big-bad-thing.html Interestingly enough that NBBT dealt with housing {which obviously became a problem} and introduced the possibility of an unlooked for event {a catastrophic earthquake in the southern Midwest}. Eventually as we recover, I am asked what worries me the most. It is a man-made or a natural event such as an earthquake forcing us to spend billions of dollars we currently don't have on the recovery of a city {New York after 9-11}, or region {think Katrina}.

Lots of things are factored into the market right now. I'll guarantee you nobody is thinking about the consequences of this sort of thing happening.