Walking through down town San Diego this morning I looked up and noticed a cat walking outside a fourth floor condo. This cat was perfectly content. Looked happy. Not a care in the world. My thought? The cat was walking on a three inch wide railing surround the balcony facing certain death if spooked, wind or whatever knocked it off. The cat did not fall as I watched for a few minutes. It probably jumped down and is fine…for now. However, the risk for the cat did not seem close to being worth the benefit. And for me that seems like a nice connection to America and its current investing strategy. How does the average American perceive risk? Does the average American perceive or attempt to measure risk? The answer at this time has to be a resounding “no”.