Several months ago, I was on a business trip in California. We had met with interesting and influential people, accomplished what he'd hoped to, and I couldn't ask for better business partners. It was a perfect business trip until a chance conversation with someone I'd known as a child. And in the space of moment -- my capable, in control-of-my-world adult self dissolved; I was again a young girl who felt incompetent, fearful, and out-of-control.
After the market rallied nearly 11% on Monday, it dropped 1.5% yesterday, and another 9.3% today. Given that I manage money for a living, and am experiencing this manic market firsthand, I find myself somewhat sympathetic to stories of folks stuffing their money under a mattress. Do I think that taking a moment to be kind to ourselves -- to nurture ourselves -- is probably in order. In fact, curling up for a quick nap on that mattress under which we are thinking of stuffing our money might not be a bad idea. But then what? Do we really liquidate all our positions, and sit entirely in cash?
Said Sarah Ban Breathnach, "Dream, do, detach." Google lost about $13 billion worth of value on Thursday evening. Why? -- you ask. Wasn't their income up by 28% over the past year? Yup. Isn't that pretty impressive? I mean, I'd like to see my income increase by nearly 30% in just one year. It is impressive. But....everyone expected Google's income to go up by 29%. What? People dumped Google because its income was 1% shy of expectations? Yup.