esrosedotblog

OK. WHY AM I NOT FREAKED OUT?

The markets are in terrible shape.

How come I am not more upset?

Because this has happened maybe four times since I retired. 2001 and 9-11, the big meltdown, the little meltdown two years ago, and, well, it is serious but, let's face it. The guy next door died last week. He isn't worried about it.

More? What goes down must go up. This will bottom when people see bargains and start buying. Also when they come to their senses and realize that S&P is a bullshit outfit who never ever downgraded the banks when they were failing.

Why else? Because my broker's management committee has already sent me a nice, rational summary of the equity markets and the municipal markets that satsify my questions. That is what I am in. They are more circumspect about T-Bills but that is another matter.

More. I have no plans to cash in my paper. If was going to do that today or tomorrow I would be jumping off the patio out back. Three inches. Not a bad fall.

But I am not.

This is all paper loss as it is all paper gain when that happens.

I am diversified, I am optimistic by nature. And I have never really lost anything big up to now and so why now?

Labels: economy