the levels of hysteria that are on show on the business news channels on TV regarding a relatively modest drop* in share prices over the past few months are getting ridiculous. to paraphrase a wise internet fish, it’s like no one has any medium term memory anymore.
that chart shows an approximate return of 33%. banks give a return on your mid-term deposits that are in the range of 9%.
if so-called ‘investors’ are not happy with a return of 33% for a year, there’s only one reason and that is pure unadulterated Greed. which is the primary reason that capitalism, in almost all shapes and forms, sucks like a black hole.
* the recent drop has been about 27-28%. however, this distaste should be quelled by long term graphs – check it out – 2yr graph here and even more emphatically with the 5yr figures here
similarly, one can have lots of fun with the ‘Nifty’ broad-based index as well
(Disclosure: Both my parents now work in Stock Market – related activities, and i’m really depressed about that)
You get your blood money from the stock market?!
You are out of the club, MISTER!
p.s. Thanks for the love over at Dr. Jerkfish’s site.
aif, it tends to skip cycles. My parents were Republicans, and I expect my child to construct skyscapers out of puppy bones for multinationals. Then his/her child will be a smart-ass writer.
ah, the infamous ‘Alex Keaton Effect’. it’s all clear to me now :)
The hysteria gripping the news channels and laymen currently is no different from the one that gripped them when the markets went beyond 20k. Some things will never change.
very true, lazybug.
of course, when the markets hit 20K, only one of my parents were in stock-related madness so i only had to hear about it half the time.