Last weekend, I went back to Colgate University for a meeting. Its been about 30 years since I graduated. This time was a bit different as we were in the basketball locker room and went to a football game and I was amazed and happily shocked at the massive changes. Most of the people that i was with were somewhat apathetic about the football scoreboard the size of a small town and the plush basketball locker room with leather chairs. Thats because they had a much more recent and clearer persepctive than I did.
Today’s market is like that. We are mired in Friday’s 200 point down day and the constant negativity that we are hearing about the US and capitilism. Investors need PERSPECTIVE too.
In March, the Dow traded around 6600. Bear Stearns and Lehman collapsed. Anarchy and the collapse of capitilism were around the corner. THe market and the American investor/consumer pschye have dramaitcally recovered. Our way of life no longer hangs in the balance and a day or two (or a month or two) of downside movement in the market is more normal than not after the move that we have seen since March.
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Tuesday, November 3rd, 2009
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