Friday, October 12, 2007

Dumb Luck and Emotional Need

Today, work intervened - not much time to monitor the economy, the markets and Google from my desktop. Usually, I keep the Stock Channel running in one window, with the sound turned down. And I'm in and out of Cramer all day long. I can't believe how much smarter I am now than I used to be.

I used to be really dumb: in May, 1998, the market had gone up 30% a year for three years and I thought, this can't go on, so even though I had never heard of "Sell in May...", I sold in May. Everything. Then I went away - I didn't think about the market during June, July, August or September. In early October, I was shocked to learn how much everything had gone down. On October 9, I bought back in.

Now I fret about every turn of the market. I read tons of intelligent speculation. And so, with great precision, I sold everything again - the day before the Fed acted and set off the greatest bull market in history, if Kudlow can be believed.

Yesterday, Google ended down a fin and I was surprised to find that it took the bloom off my evening. I need Google every day in this time of shame and humiliation.

But today, all is well again. Up fifteen. GOOG is in its Engine, and all's right with the world.

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