1.   As investors catch a chill from falling stock prices, colder weather and Iraqi saber-rattling are insulating crude oil investors.

2.   Gold, often perceived as a hedge against inflation, has historically also insulated investors from economic calamities.

3.   Since the price the utilities pay for the electricity is partially indexed to the U.S. dollar, investors are insulated from a large devaluation of the Brazilian real.

4.   Such variable rate securities, which insulate investors from inflation risks, would be attractive to investors who believe inflation might accelerate.