Portfolio Recovery? Any lessons learned?

Did we really make any drastic changes or adopt new strategies during 2008 and 2009 to enable our portfolio recovery at end Dec 2009?

or we just sit through the Greater Bear and the portfolio recovered by itself due to rising tide.

If the portfolio recovery is just due to rising tide lifting up many boats, did we really learn anything? I wonder other than learning that we need holding power to sit through the next bear.