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Financial Market Report

The Financial Crisis

It's easy to get scared when you listen to the talking heads -- and when the Congress (the Republicans especially) so irresponsibly and even irrationally votes down the so-called bailout that, while imperfect, would at least allow us to regroup.

At such a moment it's important to remember these axioms:

1) Financial markets always overreact  and then correct.
For example, yesterday's precipitous drop in the Dow (more than seven hundred points) and today's partial recovery (over three hundred points up as I write).

2) Never pull the trigger (or the plug) when markets are in chaos. Better to do nothing. Today is the last day of the quarter, and quarterly statements are about to be issued. You may want to file yours without reading it first.

3) Don't panic. If you are prone to panic, reread # 2 above.

4) History repeats itself -- but always with variations. Despite comparisons to 1929, there are major differences, legal protections in place along with the apparatus to implement necessary regulatory changes  as well as changes in accounting methods to preclude such upheavals in the future.

January 12, 2023

January 03, 2023

November 03, 2022

October 07, 2022

October 29, 2021

October 28, 2021

July 16, 2021

April 19, 2020

January 22, 2020

November 14, 2019

June 20, 2019

May 04, 2019

April 17, 2019

March 29, 2019

September 10, 2018

July 19, 2018

May 25, 2018

February 06, 2018

October 03, 2017

Best American Poetry Web ad3
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BAP ad
"Lively and affectionate" Publishers Weekly


I left it
on when I
left the house
for the pleasure
of coming back
ten hours later
to the greatness
of Teddy Wilson
"After You've Gone"
on the piano
in the corner
of the bedroom
as I enter
in the dark

from New and Selected Poems by David Lehman

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