Thursday, July 26, 2007

The Dow falls more than 300 points 

The Dow Jones Industrial Average fell today more than 300 points, largely on worries over the health of lenders. Cardinalpark's post yesterday afternoon on the state of the credit markets turned out to have been exquisitely timed.

I have virtually unbounded faith in the opportunity in the American economy -- we live in wonderful times -- so I remain fully invested in equities. Yes, there is some chance that we will slide into recession -- Democrats who care more about victory than the poor are almost hoping for it -- but even that bad result will only lay the foundation for the next boom.


By Anonymous Anonymous, at Sun Jul 29, 06:28:00 AM:

Quite, BUT.
Reading the entrails, wouldn't it have been better to sell pre the drop, go to cash, and choose a lower re-entry point the original holdings (MORE shares) and/or, for the favorites on your (presumed) "watch list"?  

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