Saturday, March 01, 2008
Are We Really Experiencing Something New?
For those of you who think that we are in the final stages of an inevitable Apocalypse, perhaps this Time magazine cover from 1974 will shake you loose from your stupor.
"That which has benn is what will be" Ecclesiastes 1:9 "that which is done is what will be done, and there is nothing new under the sun"
Indeed, there is nothing new under the sun, or as another once put it - "The only thing new is the history you don't know" - paraphrased.
In October of 1974 the Dow Jones Industrial Average was 700. That's right, 700.
My Point: Don't let today's media fool you into thinking that somehow we're experiencing something new and out of the ordinary. We will make it through, like we always do and those who panic will be the ones who miss out on the next big upswing which will inevitably occur (though I can't say when).
Stop worrying about the market, stay focused on what's important - you know what that is.
Scott Dauenhauer, CFP, MSFP, AIF