Hi all,
Happy New Year.
I saw the headlines that shouted (screamed?) that the markets were down at the end of the year.
But what a bunch of crap. Have they no shame?
Ok, the S&P average hit 3829 on December 28, 2022. If you compare that value to the year earlier value of 4791, it might give you a heart attack or at least indigestion. That's down around a thousand points and we all know that's a lot of points.
But that's a little like comparing your weight on January 2023 to when you were in high school.
What's going on here? All you have to do is recognize a few things. First, stock markets do jump around. Volatility is no stranger to stock prices.
Second, that high 4791 value in December 2021 was a peak. It was a tall peak. It doesn't take a lot to fall off a peak.
Third, compare the recent number of 3829 to the end of 2020 of 3756 or the end of 2019 of 3258. There is definitely some growth there. Have some champagne.
Fourth, throw all these numbers into your trash smasher. Light a doobie and know with some confidence that the market is like your teenager. It grows in fits and starts but generally gets bigger over time. If you don't believe me, compare photos of junior when he was 6 years old to his/her pimply teenage snapshot. He's definitely a lot bigger. Do the same with the S&P 500.
Now don't you feel better? Tax deductible gifts to the LSD Mental Health Fund are always a great late Christmas gift.
Did I saw Happy New Year?
Lots of business, product, and technical changes. I know one engineered by a GT mechanical engineer that will improve the battery market.!
ReplyDeleteDear LSD. ‘appy New Year! The NASDAQ ‘n DOW are two other marketz. Their levels for yearz end’n fer ’21 ‘n ’22 are below. The Tuna seemz partial to the statement that marketz are down fer the year. But, as you imply, marketz overall are up since we be in high school . . . ‘n thatz the long-term trend ‘n likely to continue. More poignant, ‘n to a point, however, the Tuna believz, are the balances of retirement accountz . . . reportedly down 20% - 30%. Shure, some folkz can be sanguine ‘bout recent market downturnz ‘n upbeat ‘bout long-term prospectz, but the Tuna ‘n otherz with retirement accountz aren’t popp’n champagne korkz. Likely, giv’n current domestic ‘n ferin political situations ’23 will be a volatile ‘n lackluster year for investorz.
ReplyDeleteNasdaq Dow
Jan. 3, 22 15,622 36,338
Jan. 3, 23 10,346 -34% 33,147 -9%
Nevertheless, he’ll open’n a kold boddle of chardonnay in a couple of hourz! Cheerz!
You might have to find a cheaper champagne/chardonnay. That should free up some capital.
Delete