My friend Ben Carlson has a (typically) terrific piece up on how market action and sentiment impact us. It’s hilarious and true, especially on a day like today with oil and stocks desperately seeking a bottom. Here’s a taste.
Bull Markets: Fear of missing out.
Bear Markets: Fear of being in.
Bull Markets: I knew I should have had more of my portfolio in stocks.
Bear Markets: I knew I should have had more of my portfolio in bonds.
Bull Markets: That guy’s been calling for a crash for years — he’s an idiot.
Bear Markets: That guy just called the crash — he’s a genius.
I encourage you to read it in full.
I also encourage you to watch the video version below. Be careful out there.
After every football victory, the California Golden Bears declare that the ground on which they stand is Bear Territory. “You know it! What? You tell the story! What? You tell the whole damn world this is Bear Territory!” Watch this particularly lively rendition after a win in The Big Game over Stanford (starting about 1:20 in; my youngest is at the top of the screen and was number 46 for Cal).
Lots of experts and alleged experts in recent days have been declaring that we’re in a different sort of “bear territory” as the market has gotten off to perhaps its worst start to a year ever. Continue reading
Anybody who has spent more than a few minutes on the web has seen some amazing doomsday predictions. Among my favorites are those relating to the great Yellowstone Caldera volcano, which is often described as about ready to blow and destined to create terror and mayhem even though Yellowstone is pretty calm as giant caldera systems go. For example, check out the following headline from the Toronto Sun on March 9, 2014, which provides a good representative sample of the genre.
On October 19, 1987, Wall Street saw its biggest one-day percentage drop ever. The Dow fell 22.6 percent on that “Black Monday.” Today marks the 25th anniversary of that crash. MarketWatch provides a look at 10 “great” financial market crashes through the ages here.