Friday, January 24, 2014

D. C. Jones

As in, Dow "Carnage" Jones, an old friend who made a glorious cameo today.

When I heard "irrationally exuberant" Nobel Prize winner Robert Shiller confess, "I'm still investing in the stock market," I knew something like this was coming although the healthy 300-point drop was still a bit of a surprise. Indeed, Shiller is a leader of indexes, if not men precisely, and when the leader roars, we mice press an ear to the cheese.

Earlier today, I kept squinting at the public screen to see if I was reading the lower right corner correctly, but, of course, that was mainly because my eyes are so poor from reading, writing, and grading papers. Anyway, I suspect we will see some more wacky new highs this year, but that's based on no concrete evidence I have access to as of this writing. And, it's not investment advice either. Haha. But it's not.

Maybe in closing I should note that at a 16K+ opening bell, today's 318-point drop was of less than 2 percent. That's bound to make everyone feel better about their lavish weekend plans.

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