Monday, August 29, 2011

MIA all over again

Well, I've fallen off the 'regular blogger' wagon again.  No particular reason except a distinct lack of thought on my part.  We've been having record high temps lately.  Las Vegas broke 4 or 5 high marks and the low temps were also hotter than usual so the weather guy has been having fun.  Missing out on Irene didn't hurt anyone's feelings.

This morning we walked our 2.5 miles (4km) then showered.  We had the radio on and when we got out of the shower the announcer said it was 85F (29.4C).  By the time I'd shaved and brushed my teeth, he announced it was 89F (31.6C)!  That's just silly.

In an article on Yahoo taken from The Street a guy from Standard & Poors is saying that the stock market will remain volatile for at least September and probably this is a new normal situation.  "Who or what deserves the blame? High frequency trading, hedge funds, inverse and leveraged ETFs, take your pick," he says.  Well, doesn't that just make you feel all warm and fuzzy!  He's probably right though.  All these new products that weren't available in the past (except hedge funds) have got to be changing the rules.  It's up to the investor to sort out ways to deal with the new reality.  So far my response has been to buy something I like and hold it for some time.  It's kind of a head-in-the-sand approach but as long as I'm diversified and can take some profits when they appear it should work.  At least I hope so! 

One of the new rules requires mutual funds to identify individual purchases of stock so for a fund like Fidelity's Capital Appreciation (FDCAX), Yahoo Finance shows 3 holdings of UAL, 2 of VMED.L and 2 of CVX in their top 10 holdings!  Well, isn't that just helpful.  Google isn't quite so stupid but I usually prefer Yahoo Finance.  Looks like I'll have to change my habits there as well.  Good thing I'm not totally stuck in the mud.

Gotta go.  Real life calls.  Have a good one!

1 comment:

JoeinVegas said...

I agree with your other postings, that the stock market is nothing other than a gamble of it's own making, of no useful value. Too bad the economy worries about it.