I believe it should, but am interested in your speculation as to how you think it would hold up. About half of it is not in equities (cash, bonds, commodities,

I believe it should, but am interested in your speculation as to how you think it would hold up. About half of it is not in equities (cash, bonds, commodities, real estate). And I did not include actual land holdings in the %s (including our personal residence), which brings it up to a majority. Also, some of the equities are international, and we are in a much more global environment now as compared to 1928. Over 40% of large cap earnings are from abroad. Are you saying that you hold 100% of your assets in gold and land? "Cash flow from the business" was specifically excluded from the question, i.e. income does not enter into it.