Yesterday...the stock market dropped by 200 points. Life didn't end...the world didn't stop spinning...but our family stock fund lost some money.
I didn't bother to check and see how much...I just saw the fund was 'in the red' yesterday. We've had a lot of days 'in the red' honestly. But we just keep chugging along...hoping that at some point...likely years from now...the economy will recover enough that we'll make back all the 'red' that we lost.
I saw in today's paper...that billionaire Warren Buffett lost money in the drop in the stock market yesterday as well. In fact...the article said he lost over $400 million. Like I said...I didn't check how much we lost...but I'm reasonably certain it wasn't $400 million!!
Now...before we get too concerned for Mr. Buffett...let me put his loss in perspective. Even though he lost $400 million...he still has $44 billion left.
To break that down...that's equivalent to you pouring $1 worth of change in your hand...and then dropping a penny of it on the ground. Some people wouldn't even bother to waste their effort to bend down to pick up the penny. After all...it's 'just' a penny.
I'm guessing Mr. Buffett isn't worrying too much about that 'penny' he lost. When the market begins to pick up again...he will likely make that 'penny' back...and then some.
Hopefully...we will too.
Dan
Wednesday, March 7, 2012
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