Wow – What a Ride!

History in the making – probably. Bank failures, unprecedented federal action, political impasse, global consequences and the stock market gyrations. My two cents

- Politicians will be politicians: They may be our leaders and may spout bipartisan cooperation to address national issues but ultimately it is politics. Maximum milage from a situation with limited risk or exposure is the mantra. And that is what we have seen over the last few days – amazing!

- When the time is right: When Hank Paulson proposed a more rigorous government role to stem this crisis early this year – no one listened. The time was not right. Now he is the man of the hour. For some events to transpire everything needs to come together – time, place and skills. If you are struggling at something – don’t give up – understand what component is missing and work on that. Maybe you are ahead of your time.

- So this is a crash: You have heard about it but now you have lived thru one. Markets down 7-8% in a session - yikes! Remember it is a game of averages and if you want to time markets you need to ask yourself – am I feeling lucky?

- Wall Street versus Main Street: That is the perception. Main street bailing out Wall Street – maybe but is it bad? I don’t know all the details of the plan but to assume that Wall Street and Main Street are decoupled is a fallacy. Market downturn, credit unavailability and housing woes will impact Main Street. It is not about finding excuses and scapegoats but about finding solutions and moving on.

I am pretty sure the show has just begun and more fireworks can be expected. Stay tuned!


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