How much longer am I going to look like a complete moron by writing this section? Stop panicking and buy and I keep condoning this even though markets reach many lows last week, the Dow and S&P hitting marks they hadn’t seen since 1996.
Not looking good for investors unless you’re in the bear market and if that’s the case, you may just be kicking ass. Not that I care. And I won’t sit up here and give credit to bearish investors because, right now, the market is Kodiak bear bear.
*the bear has been chasing investors for most of 2008 and all of ’09 so far
All in all, I already mentioned last week that there was a strong chance the markets would hit some record lows this week, knowing that I still believe we’re seeing the bottom around here somewhere. I feel a little bit of a rally this week although there isn’t much out there yet to indicate my basis for an argument.
However, my point with the market is the same point I try to make with betting on sports: human nature does nothing but speculate before the actual outcome of a scenario. We believe many things due to past facts and behaviors regarding the matter at hand. This is no different from the markets.
We watch news that is filled with “crisis language” every day we wake up until we lay our heads down to sleep. When all we’re hearing is the sky is falling, most people are going to believe the damn sky is probably falling. Why? Because the news told us and we follow the news.
So, while Wall Street is telling us the market sucks and not to buy, I have a few questions of my own that I’d like a little more clarification on:
If Las Vegas is losing so much money, why were there lots of people in an off the Strip casino on a Sunday night last weekend?
Why was the Cheesecake Factory so incredibly crowded for brunch today?
Why was Disneyland filled with thousands of amusement park lovers on a Wednesday afternoon?
In no way am I indicating that a recession doesn’t exist. That’s far from the truth. What I am merely telling you all is that not everything you hear is what it really is. Especially from the media. Mostly from the media.
So, you should stop panicking and buy. If you can’t afford it, don’t buy it. Things don’t get any easier than that. Just remember this: if everyone around you says the sky is falling and you look outside and the sky is blue and clear, do you still believe them?
*everyone has become Chicken Little
