I did feel GFC would bring some collateral damages but I didn't realize the damages would hurt Europe so heavily. In hindsight, I was over-optimism in the April 2011, which came from my ignorance and arrogance. What happened is reality and I do want I don't waste my mistakes. The cost was $180,000 paper profit, which is big enough for me to pay my debt and be a full-time market student based on my rental from properties. It should be a amount of money, which means nothing for a successful Aussie business man but is very important who came to here at the late of 30s and have not business experience and good enough knowledge in economies, business, and psychologies. *** You have to admit your own mistakes and then you have choice to reduce the damages, get your toe in the right road again, and revive with sane brain. The lesson is that if we have ever been insane, we tend to be insane again and again. A lot of traders enjoy to find patterns in the chart but they don't have the senses to see the pattern of their behaviors. It is not because we are stupid in skills but we just have no ideas what can make us less insane and get the right skills for the right tasks. We have been modeled by our experiences, the education in our fields, the view of the world, and the sense to be self- and environment-awareness. This model give us the capability to earn for our living but it also makes us fail to get anything in the stock market but losses. *** Greek debt crisis has been destroyed too much globally. XAO just has been beaten again and again by the storms again and again for years. In this forum, it seems no winners but losers only as everywhere where some traders and investors still can talk. Slowly but definitely losers have stopped to blame or curse, which is good. We need to learn the lessons. We should not waste our losses for nothing. To most of traders and investors Greece crisis acts as a series of black swans, but it is not. The things have set its course for Greece and EU after GFC. We just fail to identify them and make us not lose. *** More and more traders and investors start to blame leverage after the damages have been done. It is understandable but wrong. After leverage was broken, you should get more damages and pay the cost of the broken leverage. Why do you take the leverage you could not be sure it would never be broken? Do you use leverage always in your home or office without following the safety rules and procedures? No one! *** It depends on the benefit and risk for you to use or not use the leverage. Why doesn't Buffett use leverage? Why he urges no losses? It is because it is very risky to run a business and run in the stock market. He wants to be strong to lift the thing he wants. Unfortunately most of us are not strong to life anything or even take any leverage but we do take the leverage to lift thing which could not be up. Greek debt crisis tells how people used the leverage for nothing but gear themselves into the hell. If you use the leverage you should be sure in worst case you could hold it and wait for the worst to pass by. Of course for safety don't lift anything you can not with or without the leverages.