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Monday, December 29, 2003
(The link above may break after a month, I don't know.)
Today's Doonesbury consists of a character complaining that her portfolio is down 20% this year. I don't know, and cartoonist Trudeau doesn't mention, what here portfolio consists of, but I think it's intended as a slap against the economy.
The thing, though, is that the character must be investing in fairly risky investments to have lost 20% this year. For comparison purposes, as of right now, the S&P 500 is up 25.55% for the year, while the dow is up 24.75%.
I'm not an expert in investing, by any means. Although I sort of understand the stock market, doing things like buying and selling short remain mysterious to me. Bonds are also an enigma. But it sure seems to me that a character must have real trouble investing if she was able to miss the market by 45%.
Indeed, I think the big market news in the next few weeks will be the dow crossing 10,587.60, which is the level that it was at when the President took office. This will be important because it will take out of the election race the meme that the market went down during Bush's tenure, instead forcing his opponents to argue that it didn't go up as much as it could have, a much harder case to make.
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