I just added a new theme to my tags: Upbeats in Downtimes. It's about
seeking bits of hope between all the discouraging headlines. Getting
past the Wall St. mess, however long it takes, will have a whole lot to do
with sustaining hope and restoring confidence.
My first nominee for this new tag goes to the white-boarding "Fast Draw Team" on CBS Sunday Morning. Today's vignette was about "Market Monsters" and how to face them down. Very clever. As the FD fellows suggest, if you dump a stock or a fund, that money is gone and you're just out of luck. But if you hold on, there still is at least a chance that it will come back.
To anyone of Boomer age, this has to feel like Deja Vu All Over Again.
Hold your breath and hold on until those stocks come back is just what the hub and I told ourselves circa
Y2K. But in the long run, it did pay us to wait until some of those
tech stocks recovered.
We weeded and pruned, of course. Even did a bit of bottom feeding and bargain hunting (and I still wish we'd put some Google in that bargain basket at yesterday's prices).
But the real point, both then and now, is that if we all give up on the market, the whole thing could topple. So I am still doing my best to tolerate some time under water again while holding my breath.
We weeded and pruned, of course. Even did a bit of bottom feeding and bargain hunting (and I still wish we'd put some Google in that bargain basket at yesterday's prices).
But the real point, both then and now, is that if we all give up on the market, the whole thing could topple. So I am still doing my best to tolerate some time under water again while holding my breath.
P.S. If you visit the link above, take a moment to look screen right for a list of
past Fast Draw vignettes (e.g. "Offshore drilling" or "Mount
Education"). They have a real knack for nailing essential aspects of
complex issues with quirky, quick visuals that leave you smiling too.
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