Welcome
Welcome, finally, to my website. Here's info on me, my books and other writings, what I'm up to, and the inevitable deeply self-absorbed blog. Visit, graze, leave a comment, then go out into the sunshine and read.
Does a bear market shit in the woods?
Why do we pay any attention at all to the stock market?
This isn't a glib question, nor is it one that lacks financial understanding (though I do glaze over when the words 'mutual' and 'fund' are put together). But, really, come on, now, the stock market? It's as greedy and emotionally unbalanced as a three-year-old boy and just as given to petulant mood swings.
For something that is almost completely theoretical (as in it's only the perceived value of a company; Who's doing the perceiving? And why should they be trusted if they perceive AOL to have more value than all of TimeWarner?), it's given ridiculous weight as an economic barometer. It's like trying to predict the world agricultural outlook by how fast a field of sheep run from one side to the other.
It's meaningless, folks! It always has been. So it's tumbling a bit, so a few billionaires lost a few billions that they'll easily earn back next week. So what? Go read a book and send your spare money to Africa. Honestly.
