Market uncertainty, life goes on
The fall season is progressing along, been busy at work and at school. For the most part I’m enjoying my classes, my unincorporated business organizations course is giving me more perspectives on the operations of small businesses and partnerships. Definitely opens your eyes to what kind of responsibilities, legal and financial headaches, really, owning your own business has. In my Remedies class we’re covering the bottom line of a lot of cases that we flew over in con law, property, and contracts, mostly going to the most central question of all, that is after all is said and done, after the plaintiff wins his case, how does the court proscribe the appropriate remedy to make the plaintiff whole again? And more tricky, when, if at all does the Defendant need additional punishment for the wrong?
Been keeping a wary eye on the market, it’s getting pretty depressing watching it rocket up and down. Since the brutal crashes from a few weeks ago, the market has seen drastic ups and downs, close to 9% swings, heavy volatility all around. It’s become a sick ritual getting up at 4am, getting ready for work, only to see the London stock exchange futures way down, and the Asian markets wrapping up another down day of trading. Been spending a lot of time it seems, sitting in my cubicle at work and getting distracted by the DOW and S&P way down in the red, highly caffeinated talking heads talking about investment strategies, screaming at times, for calm in the markets. Meanwhile a lot of small investors are quickly taking their life savings out of the market, apparently deciding its too dangerous to play at all.
Then a few days later, a crazy rally, usually as a result of some optimistically spun economic report, or announcement from the government that there will be another bailout. It’s really hard to tell what is up and what is down, what and who to believe really.
Whatever gains I had preserved about a year ago due to some luckily placed re-allocations in my stock holdings are quickly dwindling, percentage-wise. For the time being I’m glad that I’m gainfully employed, and not involved in any variable rate debt or consumer debt. Due to this insane housing market we’ve been seeing for the past few years, I held off on saddling down a mortgage, a decision that I’ve come to appreciate again and again. There is a matter of some student loans, but I was able to lock about half of it at a very low interest rate through consolidation about a year ago. I have been keeping a wary eye on our finances, planning out different scenarios and what we would do. For now there doesn’t really seem like there’s anything we can do. Just sit and suffer.
In the meantime I’ve been keeping an unofficial log of spare change I’ve been coming across walking around the city. I’ve been tracking it down loosely on my paper calendar at work. It’s pretty surprising how much change people leave lying around. So far in the past month I’ve found at least a few pennies a day, with the occasional dime or quarter. I’ve also found a $5 bill, and a metrocard with $20 on it. I guess when times are tough, you try to do what you can.