5.08.2010

Greece did that?!?

Investor A: "Good G-d! What is that unbearable whooshing sound?"
Investor B: "That's the stock market plummeting past us."
Investor A: "Was it pushed out of a window? It's falling so fast!"
Investor B: "It may have been, ask those guys over there."

CEOs of the Nasdaq and NYSE point accusingly at each other

I guess the past six days made for a useful experiment. I had previously estimated that my portfolio had a beta of 2. If the Dow Jones were to rise 1%, my stocks should rise by twice that. So now that the Dow Jones has dropped more than 7% in the past six days, my portfolio has fallen, as expected, about 14.5%. Math high five!

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