Not exactly what the Japanese stock market needed this morn as a confidence booster after two days of panic selling. Now one of the principals involved in the Livedoor scandal has committed suicide.
The panic stock selling may affect US markets we are told by the pundits.
No problem. Everyone foresaw this and has moved to cash.
Just kidding.
After the 1986 US stock Market crash, one of the usual responses of the New York stock market guru set was when they were asked how they were bearing up under all the stress, would simply say that they had foreseen everything and had moved to cash the prior week. It became a real, sick but dry New York joke. So, no matter how much money one loses in an energy stock market panic or whatever, the response is form #1, "It's no problem, I moved to cash last week. "
O.K. Now we're prepared for anything.
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