Well, if you’re getting on in years, you have the core of your retirement fund in TIPS, which have done very nicely the last couple of weeks. So that’s a silver lining. (I wouldn’t rush to buy them now; they’re not cheap.)
And if you’re young, then your plan of living beneath your means and investing the difference every month is working brilliantly: With the recent carnage, you get to buy your shares on sale. Huzzah! (You can tell I’m a little shellshocked when I start Huzzahing. A first for this column. Huzzah!)
I continue to hold out considerable hope for the individual stocks and warrants I’ve mentioned. But I don’t think yesterday morning was the cheapest we’ll ever see things. (Fortunately, I am usually wrong. Huzzah!)
In eras past, rough times for the market have sometimes stretched on a long time. The Dow that first touched 1,000 in 1966 did not make contact again until 1982 – 16 years. And that could be the case this time, too – we’ve dug ourselves quite a hole. Then again, the world has speeded up (and the Dow was not particularly high at 14,000 when measured in Euro or gold terms – the dollar has fallen drastically in 7 years). I wouldn’t be amazed to see America begin to get back on track with a new Administration next year. By 2011 (when some of our SPAC warrants expire), housing prices might still not be where they were last year, yet we might look back and see good gains in some of our speculations.
Or not, which is why we make them only with money we can truly afford to lose.
And speaking of a New Administration:
A POWERFUL NEW WEBSITE
Or new to me, anyway. Create your own web-based surveys at surveymonkey.com.
I couldn’t resist trying it out, and now I want to see how it works collecting data.
I’ve asked you about your preference for President.
I chose the option to have all the names listed randomly – so just because YOU see Ron Paul listed first doesn’t mean I’ve given him top billing. Someone else may see him last.
All four questions are optional – and will take just a minute or two to answer. Ba-bing, ba-bing, ba-bing. Huzzah!
I chose the option NOT to receive your IP address, in part because I’m not sure what an IP address is and in part because I believe in a secret ballot.
Quote of the Day
The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state.~Adam Smith, The Wealth Of Nations
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