Assessing the Action

This week and next, the TheStreet and RealMoney will be exploring the aftermath of Lehman Brothers' bankruptcy filing and the ensuing market chaos it brought to a head almost a year ago. This newsletter was sent Tuesday to subscribers of Najarian's "Deep in the Money Calls" service. For a free trial of his newsletter outlining all his options strategies, click here.

NEW YORK (TheStreet) -- We'd like to share with readers some of our thoughts about the events that took place about a year ago, when the collapse of Lehman Brothers sent the financial system careening toward the precipice.

Understanding the Post-Lehman World By Jim Cramer

Living through the 12 months since Sept. 15, 2008, has been like living through a war: Things we never thought could happen did, in fact, happen. Such figures as economist Nouriel Roubini and banking analyst Meredith Whitney emerged as new financial news heroes, while older authorities we had trusted for many years, such as the credit-rating agencies, were badly embarrassed.

Nothing Is Too Big to Fail

The biggest message the crisis imparted was that no company is too big to fail. Quite frankly, investors had become far too complacent in their trust of institutions like Lehman and the larger financial institutions. Investors should always be skeptical when something seems like a certain bet, because it often means that everyone else is positioned in the same way. That means you're probably in a crowded trade and could get trampled if everyone rushes for the exits at once.