Just woke up after falling asleep on March 27, 2007.
Exactly one year ago today.
I was awaken by a shouting headline. Something about stocks tumbling and BREAKING NEWS. My friend in FairyTale Land, Chicken Little said to bail out and come back in a year for some bargains.
I sold everything after the close on 3/27/2007. The DOW closed at 12,397. I suspect that by now the whole world knows about the housing mess and all and that it would be a great time to consider buying up some stocks from all the desperate sellers. Oh, I see that houses dropped 20%. That’s cool. It appears that there is a credit crunch/panic. That should help.
So … what’s the DOW at today ?
12,302 !
Are you freakin’ kidding me ? Down 0.8% in a year.
