I’m still upset about my conversation with Jim yesterday. I need some reassurance, so ..I call my friend Marty; a financial planner in Laguna Beach. He sounds really shook. He tells me that he’s having panic attacks and trouble sleeping at night. Three years ago, about the height of the real estate market ..he was afraid the bubble was going to burst ..so he sold his ranch in Trabuco Canyon and moved to a small apartment in town. He put the money he made into the stock market. Now he’s watching his investments evaporate ..and says it feels like he stepped off a cliff ..and he’s still falling. I guess he didn’t see it coming ..but then ..who did. Worst part of it is, he says, his clients call him everyday going: “Marty, I can’t take it anymore ..cash me out.” I tell him to hang-in there ..ride it out (surfing term) ..it can only get better. He says he’s gotta’ go now and put dinner ..or his head ..in the oven. The poor guy feels worse than I do. I conclude that it doesn’t matter which party is in power ..the markets are like a cycle inside a cycle inside a cycle. Government has about as much chance of harnessing that as they do the weather.
6 comments:
It seems to me that a lot is controlled by the mouth... those words that make action, or not.
that's true ..Kennedy said in ten years we'd land a man on the moon ..and we did. I think we can do that in other areas as well. Thanks
Panic, is what I mean... sometimes I think certain powers that be cause undue panic, in order for those powers that be to control the flow of money.
That’s for sure ..the language of fear is definitely a means of control.
My brother-in-law lost everything in his 401K. I am guessing he had everything in aggressive stocks. Man it sucks to him now!
When Bush took Office my college friend came back from London for his mom's probate and turned stocks into Ferraris saying, "It's better to have what rich people can buy."
He was almost car-jacked in Oakland, if that cop hadn't come around the corner to Lake Merrit . .
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