We saw the worst week of our lives on Wall Street this week. While this should have been scary for me, the sum total of my investments are some sizable IRAs, which I’ve had enough discipline not to check the balance of.
After the stock market got done throwing up on itself, I made my first foray into individual stocks, and bought a healthy position in a very stable company. I bought it because of the dividend, since I think the stock market is just as likely to go up or down next week.
Hank Paulson is trying to quickly work out a plan to invest money directly into banks, with the government taking an equity stake. This is something the administration has been vocally against for a long time, so it’s surprising (and somewhat comforting) to see them do something they’re not inclined to do.
So, what will Tuesday bring? Some of my friends thought it would have been good for the markets to have another day this week to sort things out. Some changed their minds, and decided a 3-day weekend was a good idea. I haven’t changed my mind. I think the 3-day weekend may just be what the doctor ordered.
But we still could drop 500 pts at the opening bell.