I Lost Money Today nthe Stock Market
Sometimes I write about investments that have gone up, so I thought it would be a good idea to confess that almost every stock I own went down today when the stock market went down. Bummer.
What happened to cause today’s declines? Absolutely nothing. The fundamental factors that make me believe stocks are very good investments today–low inflation, low interest rates, rising productivity, rising profits, and the storm watch themes like dividends and telecom reform that you see on our website–are just as true tonight as they were before the market opened this morning.
Reminds me of the joke I remember from long ago about there being two kinds of life insurance you can buy in Beirut, minutely and hourly.
Sometimes I think we would be much better off if we only got to see stock prices once a year on our birthday. Equities are for making money over years, not days.
In response to today’s declines I sold exactly zero shares of stock. Hope it goes down again tomorrow so I can buy some more good stuff cheap.
The S&P 500 is up 13% over the past year. The Dow closed at 10,610 today; it was 7500 a little more than 2 years ago. Hang in there investors. It’s going to be fine.
JR
Hi John,
Just found your blog yesterday. Enjoying it!
Stocks have been dropping, but I think a 1 -2 week relief rally is underway, as of yesterday. Then, another downturn into late September, to provide the next excellent buying opportunity.
Over the next two years stocks will fly higher.
Tony
This article adds to your credability.
“I Lost Money Today nthe Stock Market”
If it is any consolation, and the rest of the article indicates that you don’t need any: You havn’t lost any money because you did not sell.
At the moment, it is all phycological.