Sunday, August 23, 2015

I'm Worried About Steve

August 21, 2015
My Name is Steve. I Lost 3.7% Thursday

Let's start dealing with reality, folks. After 36 years of investing I have learned that the day to day movements of the market are unknown and unknowable in advance. It is only when the fundamentals change can we get a truer sense of where things should be headed down the road.

He apparently started investing in 1979. What a fantastic time to start! He might have lost a bit in those earliest years but boy, he's sure had quite the run. My hat is off to him for having the good luck in inadvertently timing that so well. And congratulations to his parents too for that matter. They timed the pregnancy perfectly. Heck, he probably wasn't even required to fight in a world war. Nicely done!

Now he'd like to start dealing with reality and changing fundamentals. I assume he's finally noticed that only three of the S&P 500 companies are still rated AAA. That's gotta be a bit depressing for someone who believes in fundamentals as strongly as he clearly does. And then there's the whole ZIRP thing. Since 1979, there's really been nothing quite like it, except in Japan of course.

Thursday was really hard on him. Can't you just feel his desperate plea for help? The signs are there if you look closely. He doesn't want you to panic any more.

Friday must have been even worse. Why won't he give us an update? Has anyone seen him? What will he try next? I'm very worried about his well-being and state of mind.

Steve, we know you are an Executive VP at Zacks. If the market continues lower for whatever reason, know that you are not alone. We have your back. Don't let the darkness consume you.

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