I thought I'd ask our resident experts what their preferred method of playing a flight to quality is? I.e. when everyone gets risk averse due to some liquidity crunch, such as post 9/11/2001, 1998 LTCM debacle, or this August just gone. In the past I've just Texas-hedged by going long T-bonds and Eurodollars, but I'm sure there must be a more efficient way of doing things. Anyone have tips for the best way to play this? Any useful past market experiences or anecdotes?