Written during one of the many market adjustments, this one in 2011.
Markets Chewed it Off
I broke one of my rules and looked at my portfolio early Tuesday morning, and all I could think of was the comment from Beverly Hills Cop, when Axel’s boss tells him about how badly he was yelled at by the chief:
You damn right, wise ass! The mayor called the Chief, the Chief called the Deputy Chief, the Deputy Chief just chewed my ass out! You see I don’t have any bit of it left, don’t you?
This is kind of like most of us folks who are in the markets feel right now, but remember as Axel points out “You still got a little ass there”, and it will grow back too. Most of the talking heads are saying we should all just calm down and let the system work, but it is much like looking at a gruesome car accident on the highway. You know you shouldn’t look, you know you shouldn’t slow down, but you end up doing it, because you just want to see it (and then you wish you hadn’t). As a wise person once said to me during a particularly nasty time at work:
This too shall pass, like a jagged, urethra shredding kidney stone, but it will pass.
That is your happy investing expression for the day. Any other useful turn of phrases to help us get through this particularly jagged and shredding time on the markets?
As the day ended I broke the rule again and saw that there was a certain amount of rebound in the market as well, but is it rebound or is it dead fish bounce? Hope it’s a rebound (Canadian Banks seem to be coming back nicely).
Maybe my ass is growing back a bit?
These are very reassuring words (and perhaps by end-of-day tomorrow the markets will have made up for most of their losses).
Glad to see your blog is back online (got a 404 the other night!)
I didn’t lose my ass, but it is testing me! I agree this is temporary or we will get through it.
I see you sitting a little different, be honest you lost a little of your ass… it’s OK, just blame it on the pit bull down the road.