From AP: "The Dow Jones industrial average was down nearly 200 points with 40 minutes of trading left. It closed up 153."
That isn't you and me making the market flop around like that. Honestly I don't think anyone has a clue about what is happening to cause all that volatility. The news providers have all kinds of reasons but I really can't believe them. After all, the Greek debt crisis didn't start this morning and I doubt if it was solved this afternoon. The debt problems here in the U.S. aren't going away either, neither are the ridiculous retirement deals our cities and states have made. So we are left with volatility for it's own sake. And isn't it fun!
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3 comments:
I think we do better in the casinos, at least there you get some enjoyment while losing money, in addition to free drinks
My FIL used to ridicule me for investing. He said exactly that except we had no casinos, "You may as well just take it down to the horse track!" he would say.
In retrospect, he was probably right. He kept his money in a bank savings account that paid less than 1% and probably ended up ahead. Plus he never had any of "those" days!
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