I notice that the market has dropped smartly this past several days. The short answer is: “I don’t know.” But, as any of the stocks you own because of me were bought with money you can truly afford to lose — and because they are speculations just as interesting (or daft) today as they were a week ago — I hope you can be philosophical about it. After years without a correction — or even, perhaps, a bear market — these things happen. And even offer potential opportunities. Stocks are on sale. They could get a lot cheaper — or snap back. But a decade or two from now they are likely to be a lot higher.
To calculate just how badly you did yesterday — or anything else you’re in the mood to calculate — dinkytown.net offers a complete suite of personal finance calculators, free. Lots to play around with.
Quote of the Day
Many [managing agents of New York cooperative apartment buildings] promote arbitration and mediation. This would prevent cases like the recent one in which $130,000 in legal fees were exhausted to decide who should pay for window bars costing $924.~The New York Times, October, 1995
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