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Hunkered Down & Waiting . . .
Posted By Barry Ritholtz On October 29, 2012 @ 9:09 am In Markets,Psychology | Comments Disabled
I never panic when these storms come. We live right near the water, but we are 75 feet above sea level, and set back 120 yards or so from the high tide line. My neighborhood often loses power, so we are well prepped. We take these things in stride.
Long before the weekend, we had all the usual precautions set: We have lots of dry food and bottled water stored, plenty of batteries, paper goods, and an emergency hand crank radio with cell phone charger built in at the ready. SOP.
When we know the storm is coming, we tank up the cars, get cash from ATM, take in the outdoor furniture cushions, flip over the tables, buy extra propane for grill, lock the grill wheels, remove the dangling/light stuff, put the garbage cans in the garage. We fill freezer bags with water, they go in the freezer (they will keep food cold for a few days if we loser power). Charge up everything that can be charged.
You know, the usual suburban prep stuff.
I always wonder how the people freaking out last minute forgot the “advance” part of advance planning. Last night, the gas stations and supermarkets were mobbed.
This is so similar to investing: People never seem to think about the future before the storm, instead flipping out during or afterwards. Here’s some free advice: The time to read the card in the seartback in front of you is when you are before takeoff and on the tarmac — not when the oxygen masks drop after the plane dives 5,000 feet.
This morning, I took the AWD wagon out to top it off at 8am (you cant pump gas if electricity goes out). There is a light drizzle, 10-20 mph winds. Roads were mostly empty, gas stations had plenty of gas, supermarket deserted.
It was kinda creepy.
I got a touch of the paranoia. So on the off chance that we would be without power for a week, I bought yet more emergency rations: Dried fruit, powerbars, bottled water, canned tuna, crackers, etc. Gas stations had plenty of fuel, Supermarkets shelves were well stocked.
PS: All you fiat money folks — the little green pieces of paper in my wallet bought me food, gas, water, supplies and medicine. Since you think they have no value, please contact me and I give them a good home.
Be back soon . . .
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