Audio clip: Adobe Flash Player (version 6 or above) is required to play this audio clip. You also need to have JavaScript enabled in your browser.
We have been riding this wave of volatility long enough that 7%-9% market swings do not have the same shock and awe impact they had a few weeks ago. This acceptance of the wild swings has provided me with an opportunity to step away from the initial emotional feelings that came from this roller coaster.... anger at the politicians in Washington, anger with the SEC (remember I had a visit paid to my firm last year by the SEC, and now looking back I can not help but wonder if they should have been using their resources on Wall Street instead of Fiduciary Planning firms like mine), amazement at how people claim to be victims when they purchased $300,000 homes making $60,000, and of course the big fish at the investment banks that packaged up the oh so appealing poo poo mortgage backed securities. However, I am past all of that, and now focusing on where we are with this market and economy.
Keep reading →