The Dow is Falling, The Dow is Falling!
Mar 7th, 2008 by Wes
Thursday March 6th at 10:00 p.m. I check my daily NYSE update newsletter and find the down dropped 214.60 to 12,040. Another huge drop in the Dow and the market is falling to its knees. Oh well, off to bed for a good nights sleep. I told my wife the Dow will dip below 12,000 tomorrow. The last substantial correction below 12,000 was Nov. of 2006. Nearly all of the gains for the last 16 months are gone. Neither one of us went to bed worried. We both had a good nights sleep.
When I check the opening bell at 7:30 a.m. on March 7th, the Dow was down another 120 points. Never fear. Sounds like a good day to go skiing. So I got my gear and went up to the mountain. 35 degrees, blue skies, great snow, untracked corn rows, miles and miles of freshly groomed runs, no lines, unlimited terrain, gorgeous views of the snow covered mountains, and wonderfully warm gentle sunshine to bask in while riding the quiet chair lift back up to heaven. An unbelievable great morning to spring ski in the mountains of Idaho. Back home by 1:00 and the Dow is down 197 points and I am not bothered. Why not? Because I do not own any stocks in the NYSE anymore.
Last year I sold my equities and transferred my money into cash flow producing, passive income creating assets. I diversified my portfolio overseas. I did not diversify according to commercially recognized commission-based financial plan theories. I truly diversified my portfolio into appreciable assets in overseas markets. I do not have to worry about the NYSE anymore. I do not have to allow my attitude for the day be reflective of whether or not the market is up or down. My mood is no longer dictated by the Dow. The Dow can go up or the Dow can go down, either way I will have a Tao of a Day.
