Economic Crazytown

I woke up at 5am today. Unable to sleep.

So, I've been hearing this rumor lately that the economy isn't so doing so hot and the stock market has been kind of hiccuping...

...And I logged into my Fidelity portfolio of stocks and mutual funds that I don't really look at and pay some smartypants to manage, curious to see what's been going on in there.

I don't know what I expected to see. Maybe I was expecting that Fidelity is more smartypants than the rest of America and somehow is doing something like shorting everything to make sure its investors are somehow making money out of this financial mayhem?

But no...they aren't.



So I had a decision to make.

I called my dad.

My dad, who is normally the king of Mr Mcsmartypants Town and has sound advice for pretty much everything, scratched his head, and I think for the first time in his life said, "I don't know what to do."

On top of that, he said "Ask Felix."

So I called my maven friend Felix (after sending him several frantic emails to each of his email addresses as well as leaving 3 messages with his secretary) and asked him what he thought about pulling the plug on my entire portfolio.

When he didn't completely disapprove of what I was thinking, I had my answer.

And so...after waiting for an hour and a half to talk to my Fidelity rep...I pulled the plug and liquidated everything.

.........................................

I'm sorry for contributing to the worldwide panic.

In that sense I feel bad.

But I could have a bought a car this past month. And from what little I do know about everything, it seems like we're in free-fall and things aren't going to change for a while.

I know the economy will rebound eventually.

But I asked my Felixfriend if the rebound would happen today or tomorrow. And he said "Probbbbbably not."

I could have told you that.

Felix, before he left to return to the work insanity that is currently his life, also told me a funny trader joke. Something about how the only thing that goes up in a time like this is correlation.

I laughed. It was funny. That's an incredibly expensive joke.

............

So....I'm out.

Good luck to you all.

And may God have mercy on our souls.