Posted by Tim Stobbs on November 18, 2008
Oh wonderful Mr. Market, let me thank you for these days.
For showing me the the stupid plans of baby boomers who left too much money with you despite the fact they want to retire next year.
For providing me a literal army of stupid seller to buy cheap stocks from.
For giving me comfort that I won’t be as stupid as they have been when I retire. Oh thank you Mr. Market.
I think I’m going to have to develop a religion on this. I watch the news again tonight and saw yet more ‘worried retirees’ talking about their pensions while I sat in front of the screen looking on in disgust. I was thinking what’s wrong with you people haven’t you hear of bonds, GIC’s?!? Didn’t it occur to you all to not keep the money your planning to buy your groceries in something a little stable?!?! Gee whiz, even Derek Foster with his all stock portfolio is just living on the dividends rather than the principle is smart enough to know you don’t sell now.
What is wrong with people? Didn’t it occur to everyone that buying everything on credit and not saving would be a bad idea for the long run? Or is that big screen TV really giving you that much comfort now that you are facing an extra five more years of work before you retire (if your lucky)? Are you enjoying your granite counter tops just before your house got foreclosed?
All of these thoughts have been screaming in my head lately as I look at the growing mess with a smirk of satisfaction on my face. Why? Because of all the chaos, fear, greed and uncertainty are everywhere now and they all point to one thing. Living a simple frugal life with little debt and modest wants is a great way to enjoy a happy life. Damn it feels good to be right after years of people looking at my strange when I said “No, I don’t want to go out for lunch I can’t afford it right now.”