Friday’s stock market ride resumes the roller coaster ride of the past weeks, as the Dow Jones dangerously nears the 8000 level. Old man Greenspan’s admission that he might have been wrong about predatory de-regulation and sell-offs by the foreign markets have triggered a widespread panic within the financial universe. No one can figured out where is the bottom.
I suggested 0000 to several investment friends at a gala event hosted by the Plaza Hotel.
“It can’t go that low.” Joel had been betting ‘bear’ for years.
“7500 has to be the bottom.” Alex’s hedge fund was clobbered over the past year.
“I still think 0000, because most of the stocks have no value and 0000 would reset the clock to a new meter.” I said with the confidence of someone who owns nothing and owes everything, although without a forwarding address for my creditors to harass me into thinking that I’m a bad man. “My only worry is that 0000 is not low enough.”
“They Dow Jones can’t go below zero.”
“The Romans had no mathematical concept of zero. Where are they now?”
Joel and Alex went to their wives. They had heard enough of my bullshit. I wonder how they’re feeling this afternoon.