Another down day on Wall Street, and people upset that they "lost" $XXX today."
I know many have deep "mark to market" allegiances, but when their accounts are down $25K, do they really feel the same sense of loss as if they had permanently misplaced an envelope with 250 hundred dollar bills? Or as though they had totalled an uninsured small car, sunk a boat, etc?
If anyone really felt that way, it's hard to believe they would invest in bonds or equities at all.
I seldom check my balances. This afternoon I own just as many shares of just as many companies as I had at the start of the week. The health of these companies is generally impacted little/not at all by the stock market, and I'll continue to get dividends just as before, and share prices eventually bounce back. I don't need to liquidate my shares tomorrow.
Maybe we just like to commiserate with others about decreases in account balances, and it sounds dramatic to say "I lost twenty-five thousand dollars today" but (to me) it hardly feels like the kick-in-the-gut of a more tangible loss of property.
I know many have deep "mark to market" allegiances, but when their accounts are down $25K, do they really feel the same sense of loss as if they had permanently misplaced an envelope with 250 hundred dollar bills? Or as though they had totalled an uninsured small car, sunk a boat, etc?
If anyone really felt that way, it's hard to believe they would invest in bonds or equities at all.
I seldom check my balances. This afternoon I own just as many shares of just as many companies as I had at the start of the week. The health of these companies is generally impacted little/not at all by the stock market, and I'll continue to get dividends just as before, and share prices eventually bounce back. I don't need to liquidate my shares tomorrow.
Maybe we just like to commiserate with others about decreases in account balances, and it sounds dramatic to say "I lost twenty-five thousand dollars today" but (to me) it hardly feels like the kick-in-the-gut of a more tangible loss of property.