Saturday, November 15, 2008

Stock Market

I wish the stock market was like the way I think it was during most of my dad’s life: a reasonably safe place to secure your fortune by investing in companies that you believe in, returning fairly predictable rates, most in the form of dividends distributed quarterly or so, rather than what it’s become during mine: a way to speculate wildly on the value of some intangible asset that may or may not bear any relation to the everyday work of the company it represents.

In other words, give me back a time when the book value of say, Coca-Cola exceeds that of eBay (for all I know, especially these days, it might, but my point being: I wish there was a stronger correlation between what people spend their money on and the stock value of the companies that sell those things.)

As freaked out as I continue to be about the ongoing demise of my family’s nest egg, I’m taking solace from the belief that maybe this is finally the correction the Market’s been needing since the dot-com boom; (of course, I’m also taking solace from the usual variety of recreational self-medications, but that’s for another post.)

Besides, I would much rather have Obama be President than my being rich. (I’m not saying there’s any correlation there, it’s just that every time I turn to the financial pages and get sick to my stomach, I just have to flip back to the headlines and feel relatively good all over again.)

And who knows? By January 21st, the economy might be roaring again. (And sure, the Mariners might win the World Series next year, too, but there’s a big difference between logically possible and actually in the realm of the somewhat probable.)

Mark my words: I don’t think the Dow is going to fall much lower, but then again, I’m the same guy who bet 10 bucks last Saturday that the Washington Huskies would beat the spread.


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