Tuesday, November 04, 2008

Wednesday, October 08, 2008

You know, I keep hearing and reading about "retirement accounts devastated by the stock-market dive" and how someone needs to do something to restore them. But, but, but... if you're more than 20 years from retirement (like I am), you've got 20 years to make up the loss. And to make up the loss, you need to get 2% higher annual return over that 20 years -- which, frankly, is within the margin of estimating error to predict 20-year returns. And if you're five years from retirement, or already retired, then you'd be an idiot to have so much of your retirement account in equities that it'd be "devastated by the stock-market dive".

So can we all stop wailing about the devastated retirement accounts?

Saturday, September 27, 2008

Words That Have Never Been Spoken

Juan Williams, on NPR's Weekend Edition Saturday, speaking words that have probably never before been spoken:

"... tough going with Katie Couric in that interview."

Friday, September 26, 2008

My Head is Exploding

Two articles that are up on CNN.com right now:

McCain To Show Up For Debate After All

...McCain's campaign said the Republican presidential nominee believed enough progress had been made for him to travel to Mississippi to participate in the debate...
Bailout Talks Implode, Leaving Economy's Fate Unresolved

...One day after President Bush said the nation's economy is at grave risk, lawmakers argued over competing counterproposals and wound up without any apparent financial bailout deal on the table.
I can't comment. It's just too surreal.