I don’t know about you, but I just bought a bunch of AAPL stock. I was feeling pretty smart about the whole thing too when I put in the order at $109.
Today the stock closed at $97.
As it turns out, some wingnut pushed a story that Steve Jobs had suffered a heart attack, and the market reacted.
If we backed up a few (2) months, we’d see Apple stock valued as high as $179. Speculation regarding Jobs’ health, economic uncertainty in the financial sector, and an upcoming election, however, have all added to the perception that somehow the stock is now risky.
People seem content to let unrelated events pile up and guide decisions. They stop acting on ideas, and they overreact to loud noises. They forget the golden rule.
And yes, you have to click the link to get to the golden rule. Godspeed.
Ah, but you’ve forgotten the wisdom of Men In Black. “A person is smart; people are dumb, stupid, panicky animals, and you know it.”
Hey, there’s a telegraph pole in the background of that video! Historical inaccuracy!
Eh. The stock will be back up. Don’t worry about it. Invest for the long term.
I am waiting for GOOG to drop to $200, MSFT makes an offer for GOOG and screws YHOO. That would be the best irony.