Jeff Saut recently quoted a WSJ article:
Memo to investors: This is what you get paid for.
Volatility. Stomach-churning drops. Watching your paper wealth evaporate.
Stock market profits aren’t free.
Garbage collectors (at least, in non-union towns) know they have to turn up in the morning and pick up people’s trash in order to get paid. Piano teachers know they have to teach piano to pay the rent. Shop keepers have to tend to a shop.
Only investors in the stock market expect to be like the lilies of the field. They toil not, neither do they spin. Could Wall Street just send us the checks every month please?
The reality is that investors have to earn their money, through
brains and nerves. The brains can mean doing smart things – like buying
Apple when it started to turn around. More often they simply not doing
dumb things, like buying Pets.com.
The nerves mean not panicking or getting swayed by fear, at the bottom, or greed, at the top.
I cannot disagree with the concepts expressed here — investing ain’t easy, and once it gets shaky, markets separate the Men from the Boys.
There is much to be said for recognizing the myriad difficulties associated with deploying cash, managing risk, allocating assets and preserving capital.
However, I am rather uncomfortable with that title: Why It’s a Great Time to Be an Investor.
‘Cause it reminds me way too much of the NAR campaign It’s a great time to buy or sell a home!
That was from 2006 — how do did THAT work out?
It’s a great time to buy or sell a home! (November 2006)
Analyzing why "It’s a great time to buy or sell a home!" (November 2006)
Why It’s a Great Time to Be an Investor
WSJ, July 2, 2008 10:38 a.m.
New Home Completions, 1968-2008 click for ginormous chart Major New Home Building Housing expansions since 1968 are marked as a red horizontal line at bottom. They previously lasted 2-4 years (71-73; 76-79; 83-87) The most recent boom far exceeded all previous expansions, running form 1992 – 2003 — then exploding upwards for another 3 years…Read More
The most interesting Jazz album I have heard this year has been Herbie Hancock’s tribute disc to Joni Mitchell — River: The Joni Letters.
Mitchell’s poetic folk and jazz style lends itself well to a more pure jazz interpretation, and Hancock does just that. It does the material great justice.
Considering how fabulous the disc is, it sold next to nothing before winning a Grammy for Album of the Year — and not a whole lot more since. That’s a shame, as it is a cool delight. Perhaps last year’s messy and inconsistent A Tribute To Joni Mitchell is to blame… except for k.d. lang’s languid version of Help Me, the rest of the album was mostly a bust.
That’s a shame, because this album really deserves a chance to shine on its own. Hancock is a legendary jazz musician, keyboardist, and producer. His star-studded list of vocalists includes Corinne Bailey Rae ("River"), Norah Jones ("Court and Spark"), Tina
Turner ("Edith and the Kingpin"), Luciana Souza ("Amelia"), Leonard
Cohen ("The Jungle Line"), and Mitchell herself ("Tea Leaf Prophecy"). Saxophonist Wayne Shorter adds a smooth and mellow flavor throughout.
One of the highlights of the disc is River (see video below). Hancock creates a fine balance between jazz improvisation and adult pop. Listen to how he arranges this song, pulling its jazz essence to the fore, while Corinne Bailey Rae wraps her voice perfectly around this Mitchell composition.
Perfect for our Friday Night Jazz session . . .
Herbie Hancock featuring Corinne Bailey Rae – River