Warning: mucho meta and nerdy ahead. ...
Wednesday, March 11, 2009
Tuesday, March 10, 2009
Everything Is Ok..?
So the Dow is up 380 points today. Great news, right? Well, most people who care to comment on such things are saying no, not really. Its actually a sign of a lot of pessimism on the part of investors.
We can't win. But at least we're a tiny bit further away from hitting zero, right?
In such dire economic times, I find myself unable to ignore the Big Arrow in the corner of my news feeds, and - sadly - it often really has an impact on my mood from hour-to-hour and day-to-day.
Yesterday Warren Buffet spoke at some length about our current situation, and the non pull-quote version of the interview said what he's been saying all along, really: yes, its ugly. yes, things are bad in all quarters. It's a war - it will be expensive, and painful, and it will take time, but our best days are ahead of us. Similarly, a finance professor interviewed yesterday by an msnbc affiliate spoke of the fact that, unless we are hit by a meteor, or nationalization of everything makes the stock market obsolete, zero isn't going to happen. Painful as it is, we are still smart to ride it out. It makes sense if you think of it as - buying when things look rosy and selling at times like these means you are buying high and selling low...
Since my IRA is worth about $12 right now, I guess I might as well hope "riding it out" is the right choice.
We can't win. But at least we're a tiny bit further away from hitting zero, right?
In such dire economic times, I find myself unable to ignore the Big Arrow in the corner of my news feeds, and - sadly - it often really has an impact on my mood from hour-to-hour and day-to-day.
Yesterday Warren Buffet spoke at some length about our current situation, and the non pull-quote version of the interview said what he's been saying all along, really: yes, its ugly. yes, things are bad in all quarters. It's a war - it will be expensive, and painful, and it will take time, but our best days are ahead of us. Similarly, a finance professor interviewed yesterday by an msnbc affiliate spoke of the fact that, unless we are hit by a meteor, or nationalization of everything makes the stock market obsolete, zero isn't going to happen. Painful as it is, we are still smart to ride it out. It makes sense if you think of it as - buying when things look rosy and selling at times like these means you are buying high and selling low...
Since my IRA is worth about $12 right now, I guess I might as well hope "riding it out" is the right choice.
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